Answer:
To answer this completely we would have to be familiar with the terms in the agreement and the terms that may be attached to your application. Generally though, an application is a request for a service that provides you with information. The agreement specifies the terms and conditions to which the bank and customer agree. These are different documents in most cases, but could be combined.
If you give each customer using the product a copy of the terms, it isn't necessary to put them online. Doing so, however, will give you a ready reference instead of re-sending them to folks upon request.
First published on BankersOnline.com 11/12/07