Common use of Online Username and Password Clause in Contracts

Online Username and Password. You accept that the username assigned to you and the password which is chosen by the you upon the initial Log In to Online Banking, conclusively determines his/her/its identity and consequently enables us to carry out the effects of any operation activated with such instruments. (Please note: You are required to change the Password assigned by the Bank to you upon initial Log In to Online Banking for security purposes). Consequently you are responsible for all actions, dispositions, transfers etc. that are carried out under the Username and Password whether the use is authorized by you or not, you and your Agents are wholly responsible for maintaining the confidentiality of the username, password and Eligible Account information regardless of the fact that it may have been provided by us to you or directly selected by you.