Online Banking

EnrollForgot Password

Online Banking Disclosures, Terms, and Access Agreement

Privacy and Confidentiality

Boundary Waters Bank is strongly committed to protecting your security and confidentiality. We will guard our information from third parties except for the following situations:

  • When it is necessary to complete a transfer as requested by you.
  • In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant when you have authorized the disbursement of such information.
  • In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal processes.
  • In order to give information to any government agency or official having legal authority to request such information.
  • If you give us written permission.

Authorization To Charge Account

You are responsible for all transfers you or your authorized representative make using online banking. You authorize us to debit your designated account(s) for any transactions completed with online banking. You agree that we may comply with transfer instructions entered by any one person using an authorized access code and password, regardless of the restrictions placed at the account level, i.e., two signatures required or minor no withdrawal.


Funds must be available in the account from which you wish to transfer funds on the date you enter the transaction.  If your account does not have available funds to complete a transfer, the transfer will not be completed.

If Online Banking transactions are made before 6pm on a business day that we are open, we will consider that day to be the day of the transaction.

Online Banking transactions made after 6pm on Friday or on Saturday or Sunday, and Monday prior to 6pm are considered to be made on Monday's business day.

Business days are defined as "every day except Saturdays, Sundays and federal holidays."

Restrictions on Transfers from Savings and Money Market Accounts

Under FDIC Rules and Regulation D, you may make an unlimited number of deposit or transfers into a savings or money market account; however, you may make no more than six transfers or withdrawals out of such an account per account statement cycle (not counting transactions made at ATMs, in person transactions or automatic transfers). Transfers made by telephone, personal computer or funds automatically transferred from a savings or money market account to another deposit account for overdraft protection are counted toward the six total permitted per account statement cycle transfers or withdrawals. If you exceed the restrictions more than three times during a 12-month period, or excessively during a statement cycle, we will close the savings or money market account and transfer the funds to a checking account.

Periodic Statements

The date and amount of transfers made through online banking will be shown on the online banking screen and will also be shown on your printed statements for the accounts from which and to which the transfer is made.

Notification of Unauthorized Use

If you believe an unauthorized person knows your access code and/or password, or that someone has transferred money without your permission, call Customer Service at 877-365-6181.

Your Liability for Unauthorized Use

You are responsible for keeping your password and account information secret. If you allow others to access your accounts, you are responsible for any transactions they authorize from your accounts.

Tell us immediately if you believe your access code or password has become known to an unauthorized person or if an unauthorized transaction has occurred involving your account.

If you tell us within two business days after you learn that your access code and password have become known by an unauthorized person, you can lose no more than $50.00 if an unauthorized person used your access code and password without your permission to process a transaction.  If you do NOT tell us within two business days and we can prove that we could have stopped someone from using your access code or password without your permission if you had told us, you could be liable for as much as $500.00.

Also, if your statement shows electronic funds transfers that you did not make or authorize, tell us at once. If you do not tell us within 60 days after the statement date, 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.

Error Resolution

In case of errors or questions about your electronic deposit transactions, call 877-365-6181 or write to:

Boundary Waters Bank
601 East Sheridan Street
Ely, MN  55731

If you think your statement is wrong or if you need more information about an electronic transaction listed on the statement, contact us as soon as possible. We must hear from you no later than 60 days after we sent the FIRST statement date on which the problem or error appeared, and you must:

  • Tell us your name and account number
  • Describe the electronic transaction you are unsure about, and explain why you believe an error has occurred or why you need more information
  • Tell us the dollar amount and dates of the suspected error

If you tell us verbally, we may require that you send your complaint or question in writing within ten business days. We may require you to provide your complaint in the form of an affidavit.

We will determine whether an error occurred within ten business days of receiving your inquiry 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 provisionally credit your account within ten business days for the amount you think is in error, so that you will have the use of your 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 ten days, we may not provisionally credit your account.

If you are a new customer, for electronic funds transfers occurring during the first 30 days after the first deposit is made to your account, the applicable time periods for action by us are up to 20 business days (instead of ten) and 90 calendar days (instead of 45).

We will tell you the results of our investigation within three business days after completing the investigation.  If we determine that there is no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Termination or Discontinuation

In the event you wish to discontinue using Boundary Waters Bank's online banking service, contact Boundary Waters Bank in writing or send us an electronic mail message. We may at any time terminate your online banking service. We will mail notice of termination to you at your address as shown on Boundary Waters Bank's records.

Security Procedures

By accessing online banking, you hereby acknowledge that you will be entering a protected web site owned by Boundary Waters Bank, which may be used only for authorized purpose.  The Bank may monitor and audit usage of the system and all persons are hereby notified that use of services constitutes consent to such monitoring and auditing. Unauthorized attempts to upload information and/or change information on this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986.



New Online Bill Pay


Payments Made Easy! NO more late fees, no more stamps or running to the post office.

View a tutorial!