Bill Payer Agreement and Disclosure Statement

This Agreement governs your use of our Online Banking and Bill Payer Services. By subscribing to the Services or using the Services, you agree to the terms of this Agreement. Please read this Agreement carefully and keep a copy for your records.

Ownership of Site. Bank of the Ozarks ("Bank") is a registered trademark belonging to Bank of the Ozarks Inc., a bank holding company headquartered in Little Rock, Arkansas. Bank of the Ozarks is a state-chartered bank with its main office in Little Rock, Arkansas. All information, including text and graphics, contained in the Site is subject to a copyright by the Bank, Bank of the Ozarks Inc., and Postilion Corporation.

Products and Services Offered on the Site. Not all products or services offered on the Site may be available where you live. The Bank reserves the right to determine your eligibility for any product or service subject only to federal or state law. The Bill Payer service is provided by an independent, third-party service provider, CheckFree.

Disclaimer of Warranties and of Liability. The Bank does not warrant the adequacy or accuracy of information in third party sites linked to or from our Site and disclaims any liability for any errors or omissions in third-party sites linked to or from our Site. The Bank is not liable for any direct, indirect, special, incidental, consequential or punitive damages or lost profits arising in connection with the Site or any interruption, delay in its operation, computer virus, loss of data or otherwise. CheckFree warrants payments will be delivered to your Payees; however, CheckFree does not guarantee that any or all Payees will accurately or reliably post or credit your payment.

Transmission of Information to Bank. All information you transmit to us becomes the property of the Bank, and the Bank is free to use such information so long as its use is not contrary to state or federal laws. You may not transmit any obscene, libelous or defamatory messages to us. All communications you send to us may be shared by the Bank with any of its affiliates unless you notify us to the contrary.

Online Bill Payer Services. You may direct the Bank to make payments from your Transaction Account to third parties ("Payees") whom you have selected to receive payments if you subscribe to Bill Payer (the "Service").

You may make payments through the Service to any business, merchant or professional that generates a bill or invoice for products or services provided to you on your behalf and that has an address we can verify ("Business Payee"). You may also make payments through the Service to individuals, family or friends for non-business purposes ("Individual Payees"). Payments may be made only to Payees with a United States payment address. You may not make a payment of alimony, child support, taxes or other governmental fees or court-directed payments or initiate deposits to another account through the Service.

By providing the Bank with the names and account information of those persons or entities to whom you wish to direct payment, you authorize the Bank to follow the payment instructions that it receives from you. When the Service receives a payment instruction, you authorize the Bank to charge your transaction account on the selected Send Payment Date and remit funds to the designated payee on your behalf.

Using the Service.

You may use any personal computer with Internet access to initiate transfers and payments through the Service. To use the Service, you must provide to the Bank via the Online Banking Site information that identifies your Payees through the Online Banking Site. You must provide sufficient information about a Payee to permit the Bank to properly direct a payment and permit the Payee upon receipt of a payment to identify you as the payment source.

BILL PAYMENT SCHEDULING

Bill Payments begin processing two (2) Business Days prior to your Scheduled Payment Date. Therefore, the Service will not permit you to select a Scheduled Payment Date less than two (2) Business Days from the current date. When scheduling Bill Payments, you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your Payee statement unless the Due Date falls on a non-Business Day; if the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date. Scheduled Payment Dates should be prior to any late date or grace period. In certain rare situations, a Bill Payment may take four (4) Business Days to be processed, in which case the Service will notify you within the website.

PAYMENT AUTHORIZATION AND PAYMENT REMITTANCE

By providing the Service with account information of the Payee to which you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with Payee directives. When the Service receives a Payment Instruction, you authorize the Service to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you. You certify that any Payment Account you add to your profile is an account from which you are authorized to make payments, and any payment you make using the Service will debit/charge a Payment Account that you are legally authorized to use. You also authorize the Service to credit your Payment Account for payments returned to the Service by the United States Postal Service or Payee, or payments remitted to you on behalf of another user of the Service. The Service will use its best efforts to make all your payments properly. However, the Service shall incur no liability and any Service Guarantee shall be void if the Service is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances: 1. If, through no fault of the Service, your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account; 2. The payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction; 3. If, through no fault of the Service, a Payee that makes available to you split-payment functionality (in which your payment may be split and allocated in various ways that such Payee may offer) does not split and/or allocate the payment in accordance with your Payment Instruction; 4. You have not provided the Service with the correct Payment Account information, or the correct name, address, phone number, or account information for the Payee; and/or, 5. Circumstances beyond control of the Service (such as, but not limited to, fire, flood or interference from an outside force) prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances. Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a payee which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper Payee any previously misdirected transactions, and, if applicable, for any late payment related charges.

Exclusions of Warranties. The Service and related documentation are provided "as is" without any warranty of any kind, either expressed or implied, including but not limited to the implied warranties of merchantability and fitness for a particular purpose.

Password and Security. A login ID and password are used to initiate transfers and payments through the Services. You authorize us to follow any instructions entered through the Service using your ID and password. Because your password can be used to access money in your accounts, you should treat the password with the same degree of care and secrecy that you use to protect cash and other sensitive personal financial data. You agree not to give Online Banking access to any unauthorized individuals. You acknowledge that said security procedures are commercially reasonable. You authorize and direct the Bank to transfer funds on the basis of the designated account numbers even if such number identifies a person or account you did not intend. If you believe that someone may attempt to use the Service without your consent or has transferred money without your permission, you must notify the Bank at once by calling us at 1-800-274-4482 during normal customer service hours (Monday through Friday, 8 a.m. to 6 p.m. CST).

In the Event a Service Transaction is Returned. In using the Service, you are requesting the system to make payments for you from your Transaction Account. If we are unable to complete the transaction for any reason associated with your Transaction Account (e.g., there are insufficient funds in your account to cover the transaction), the transaction may not be completed.

Equipment. You are responsible for obtaining, installing, maintaining and operating all equipment used to perform transfers and payments through the Service. We will not be responsible for any errors or failures from the malfunction or failure of your equipment.

Cost of the Service. For the bill payment service, there is no fee for the first 15 payments made per statement cycle. $.50 will be charged for each payment made in excess of 15 during the statement cycle. These fees will be charged to the individual's primary account as designated on the enrollment form. Other account fees will be charged in accordance with the Bank's fee schedule.

Alterations and Amendments. The terms of this Agreement, applicable fees and service charges may be altered or amended from time to time. In such event, you shall receive a written notice as required by regulation at your address as it appears on the Bank's records. Any use of the Service after you receive the notice of change will constitute your agreement to such change(s). Further, from time to time, the Bill Payer Service may be revised or updated, thus rendering prior versions of the Service obsolete. Consequently, the Bank reserves the right to terminate this Agreement as to all such prior versions of the Bill Payer programs, services and/or related material and limit access to the Service's more recent revisions and updates.

Address or Banking Changes. You agree to provide us with prompt, written notification of any address change. Send your written notice to: Bank of the Ozarks, Deposit Operations Department, P.O. Box 196, Ozark, AR 72949 or ebank@bankozarks.com

Termination or Discontinuation. In the event you wish to discontinue the Service, you must contact the Online Banking Department in writing. Written notice of service discontinuance must be supplied ten (10) days prior to the actual discontinuance date and must be sent to: Bank of the Ozarks, E-Banking Dept., P.O. Box 196, Ozark, AR 72949 or ebank@bankozarks.com. The Bank may terminate Service to any individual at any time. Neither termination nor discontinuance shall affect your liability or obligation under this Agreement. Your access to the Bill Pay Service will be terminated after three consecutive months of inactivity.

Merchant or Payee Limitation. The Bank reserves the right to refuse to pay any person or entity to whom you may direct a payment. The Bank is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. This notification is not required if you attempt to pay tax or court-related payments, which are prohibited under this Agreement.

Information Authorization. Your enrollment in the Service may not be fulfilled if the Bank cannot verify your identity or other necessary information. Through your enrollment in the Service, you agree that the Bank reserves the right to request a review of your credit rating at its own expense through an authorized bureau. In addition, you agree that the Bank reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems.

Disputes. In the event of a dispute regarding the Service, you and the Bank agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Bank which supersedes any proposal or prior agreement, oral or otherwise, and any other communications between you and the Bank relating to the subject matter of this Agreement. If there is a conflict between what one of the Bank's employees says and the terms of this Agreement, the terms of this Agreement shall control.

Assignment. You may not assign this Agreement to any other party. The Bank may assign this Agreement to any future, directly or indirectly, affiliated company. The Bank may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

No Waiver. The Bank shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Bank. No delay or omission on the part of the Bank in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Captions. The captions of Sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions for this Agreement.

Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Arkansas without regard to its conflicts of laws provisions.

Definitions.

"Business Day" means every day except Saturdays, Sundays and most legal holidays.

"Payment Date" means the day payee is scheduled to receive the payment and your account will be debited for the amount of the bills you select to pay. We recommend you schedule your payments five (5) business days before their actual due date.

"Site" means the Bank of the Ozarks website at http://www.bankozarks.com.

"Transaction Account" means your Bank of the Ozarks checking account. The term does not include your Bank of the Ozarks savings or money market account. Please refer to the Electronic Funds Transfer Disclosure for the limitations on the frequency of transfers from your money market demand account.

ELECTRONIC FUNDS TRANSFER DISCLOSURE

As a customer of Bank of the Ozarks, you may be taking advantage of the Online Banking and Bill Payer services we offer which are subject to the Electronic Funds Transfer Act. The following disclosures, some of which may not be applicable to your particular situation, are required to be given.

Consumer Liability for Unauthorized Transfers.

Tell us AT ONCE if you believe your password has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus the maximum overdraft line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your login ID and password without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your password, and we can prove we could have stopped someone from using your password without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Contact in Event of an Unauthorized Transfer. If you believe your login ID and password have been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 1-800-274-4482 or write: Bank of the Ozarks, Attn: Online Banking Department, P.O. Box 196, Ozark, AR 72949.

Business Days. For the purposes of these disclosures, our business days are Monday through Friday, excluding most holidays.

Types of Available Transfers and Limits to Transfers.

(1) Account Access. You may use your Online Banking login ID and password to: (i) Transfer funds between your checking, savings or money market account via the Internet. (ii) Review your account balance. (iii) Make payments on your Bank of the Ozarks loans. (2) Preauthorized Transfers. We are equipped to: (i) Accept certain direct deposits to your checking, savings or money market account. (ii) Allow you to pay bills via the Internet from your checking account. (3) Limitations on Frequency of Transfers. According to federal law, transfers from a money market or savings account to another account or to a third-party by preauthorized, automatic or telephone transfer are limited to six per month. There is no limit on the frequency of cash withdrawals from our ATMs. Each transaction in excess of the limit will be charged in addition to other fees and charges. (4) Limitations on Dollar Amounts of Transfers. Each payment through our Bill Payer service must be at least $1 and cannot exceed $9,999.99 or your available balance, whichever is less. You may transfer any amount between your accounts with Online Banking, up to your available balance.

Charges for Transfers or Right to Make Transfers. The first 15 bills paid each statement cycle via the Bill Pay Service will not be assessed a fee. For each bill paid after the first 15, a $.50 fee will be assessed in addition to other account fees. The Pay-As-You-Go account also includes a $0.35 fee for each check written or bill paid using the Bill Payer service. Please refer to our Truth in Savings Disclosures and fee schedule for a complete listing of account fees and charges.

Right to Receive Documentation of Transfers.

(1) Online Banking and Bill Payer Transactions. All transactions made via the Internet will be confirmed to you electronically during the session. (2) Preauthorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed at the end of this disclosure to find out whether or not the deposit has been made. (3) Periodic Statements. You will get a monthly account statement unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

Stop Payment Procedures for Preauthorized Payments.

(i) Stop Payment Rights and Procedures. (i) For Online Banking transfers, you may cancel or amend an order electronically only as prompted during the session. After the session ceases, your transfer order is not subject to change. There is no fee assessed for canceling an Online Banking transfer order. (ii) For payments you authorized through the Bill Pay Service, you may cancel those payments electronically through the Service. You may cancel the payments at any time before the Send Payment Date. There is no fee for stopping payment of a Bill Payer payment order. (iii) If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how: Call the telephone number or write us at the address listed at the end of this disclosure, in time for us to receive your request at least three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. We will charge you $35 for each stop payment order you give. (2) Notice of Varying Amounts for Payments You Authorize Outside of the Bill Payer Service. If these regular payments may vary in amount, the person you are going to pay should tell you, ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set. (3) Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Bank of the Ozarks Liability for Failure to Make Transfers.

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses and damages. However, there are some exceptions. We will not be liable, for instance: (1) If you, through no fault of ours, do not have enough money in your account to make the transfer; (2) If the transfer would go over the credit limit on your overdraft line; (3) If the Payee mishandles or delays a payment sent by the Bill Payer service; (4) If the Service was not working properly and you knew about the breakdown when you started the transfer; (5) If you have not provided the Service with the correct names or account information for those persons or entities to whom you wish to direct payment; (6) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; and (7) There may be other exceptions stated in our agreement with you.

Disclosure of Account Information to Third Parties.

We will disclose information to third parties about your account or the transfers you make: (1) where it is necessary for completing transfers, or (2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (3) in order to comply with a government agency or court order or (4) if you give us your written permission.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS

Telephone or write us at the telephone number or address listed at the end of this disclosure as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

1. Tell us your name and account number (if any).

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If the notice of error involves an electronic fund transfer which originated from a point of sale transaction made with a Check Card, the applicable time period shall be 90 calendar days in place of 45 calendar days.

Bank of the Ozarks Attn: Deposit Operations
P.O. Box 196
Ozark, AR 72949
1-800-274-4482

eStatements - An eco friendly alternative to paper statements.