24 Hour Account Access and Electronic Funds Transfer Agreement & Disclosures

Transcription

1 24 Hour Account Access and Electronic Funds Transfer Agreement & Disclosures Debit /ATM Access AUDREY (24-hour telephone teller) Pre-authorized Credits and Debits Home Banking EFT Service This agreement summarizes certain rights and responsibilities which you (the Member) and we (Affinity Federal Credit Union) have under the Electronic Funds Transfer Act. It applies whenever you use Affinity s electronic services. Electronic Services or EFT Service means a service in which you or someone else uses electronic means to make deposits (credits) or withdrawals (debits) to/from your Affinity accounts. An EFT transaction is made by electronic means when, for example, it is made at an automated teller machine (ATM), through a store s Point-of-Sale (POS) terminal, via AUDREY, our 24-hour telephone teller or Home Banking. By using a Debit Access, Business Debit Access, ATM Card, computer or telephone, AUDREY, or by initiating a pre-authorized transaction, you agree to be bound by these disclosures and by any amendments made now and in the future by us to these disclosures. Types of Available Electronic Funds Transfers You may use a properly encoded Debit Access, Business Debit Access or Affinity ATM Card with a Personal Identification Number (PIN) at any electronic facility (i.e., ATM or POS terminal) that accepts the card(s) to do one or more of the following: 1. Withdraw cash from your Savings, Affinity Checking or Money Manager (at applicable ATMs). 2. Obtain cash from your PrivateLine (LOC). 3. Deposit cash or checks to your Savings, Affinity Checking, or Money Manager. 4. Transfer funds between: a) your Savings and Affinity Checking.

2 b) your PrivateLine (LOC) and your Savings Account. c) your PrivateLine (LOC) and your Affinity Checking. 5. Obtain the available balances from your Savings Account, your Affinity Checking, your PrivateLine (LOC) and your Money Manager Account (at applicable ATMs). 6. You may authorize a Merchant or other payee to make a one-time electronic payment from your checking account using information from your check to: Pay for purchases Pay for bills You may use your AUDREY PIN to: 1. Obtain up-to-the-minute information and perform transactions to your Affinity accounts. Refer to the AUDREY Service Code Card for a complete list of transactions. 2. Sign up for Internet Account Access. Home Banking can be used for: 1. Telephone Bill Payment. 2. Internet Bill Payment. 3. Internet Account Access. Your Personal Identification Number (PIN) The Debit Access, Business Debit Access, ATM Card, AUDREY and Home Banking related PIN provides you access to your Affinity accounts. You acknowledge that your PIN is an identification code that is personal and confidential and that use of the PIN with the card is a security method by which the Credit Union helps to maintain the security of your account(s). Therefore, you agree to take all reasonable precautions that no one else learns your PIN. You understand that reasonable precautions include, but are not limited to: (a) You agree not to tell or disclose your PIN to any other person; (b) You agree not to write your PIN on your card; (c) You agree not to keep a written record of your PIN near your card. This means that you will not keep the PIN in the same wallet, cardholder, envelope or place where you keep your card. Limits and Restrictions on EFT Transactions Cash withdrawals and point of sale transactions have limitations. The day for withdrawal limits begins at 12:00 PM each BUSINESS day and ends at 12:00 PM the next BUSINESS day. There are certain limitations on the frequency of use of the Debit Access, Business

3 Debit Access and ATM Card each business day. These limitations are not revealed for security reasons. Purchases made by your Debit Access, Business Debit Access are limited to a total of the available balance in your Affinity Checking each business day. You will be denied use of the Debit Access, Business Debit Access, ATM Card or Home Banking if you exceed the daily withdrawal or purchase limit; if you do not have adequate funds available in your account; if you do not enter the correct PIN or if you exceed the frequency usage limitations. The receipt provided by the terminal will notify you of the denial. There is a limit on the number of such denials permitted. Attempts to exceed the limit will result in the machine retention of your Debit Access, Business Debit Access or ATM Card at the terminal. The number of attempts that result in the machine retention are not revealed for security reasons. Limitations on frequency of transfers: Due to federal regulations, you are allowed no more than 6 preauthorized transfers or withdrawals from each savings or money market account and only 3 of the 6 transfers can be made by check, draft, debit card, or similar order within a calendar month. There are no limitations on transfers from your checking account. Bill Payment Service payments via the Internet or Phone may take up to 5 days to reach payee/vendor. Overdrafts You agree not to make or authorize anyone else to make a withdrawal from your account(s) that would overdraw your account(s). If an overdraft occurs, you will have to pay the amount overdrawn promptly. You may also be subject to an overdraft fee. Overdraft fees may be imposed in connection with check, ATM, in-person, or other EFT withdrawals. If you have an agreement with us under which we make loan advances to cover overdrafts, you may create overdrafts as provided in that agreement. However, we do not have to permit or cover any overdraft that exceeds your approved PrivateLine (LOC). Overdraft is not available and will not transfer funds if it is in a delinquent status. Charges for Electronic Funds Transfer Transactions made at proprietary ATMs No fee will be imposed for Debit Access, Business Debit Access or ATM Card transactions made at Affinity-owned ATMs conveniently located at many of our branches.

4 Transactions made at non-proprietary ATMs Debit Access, Business Debit Access or ATM Card transactions made at ATMs owned by other financial institutions are subject to the following policy: No fee will be imposed on any withdrawal, transfer, or inquiry up to a total of eight (8) per month. Any withdrawal, transfer, or inquiry beyond this limit each month will be subject to a $1.50 fee. An unlimited amount of deposit transactions are available each month at no fee. You may, however, be subject to a service fee imposed by the financial institution owning the ATM. Affinity has no control over these fees. Transactions made at Point-of-Sale Terminals There is no fee for Debit Access, Business Debit Access or ATM Card transactions made at point-ofsale terminals; for example the use of your Debit Access, Business Debit Access or ATM Card for the purchase of gasoline or groceries at participating merchants. Receipts and Written Records of Transactions You will receive a printed terminal receipt for each Debit Access, Business Debit Access and/or ATM Card purchase transaction at the time of the transaction. You will receive a monthly statement showing the status of your account(s), transactions made during the past month, and any charges we may impose for such transactions. If you have arranged for a transfer to be made to your Account by the same person or company, you can contact us at the telephone number listed to find out whether or not the transfer has been made. If you have arranged to make regular payments from your account, the person you are going to pay will tell you, 10 days before each payment, when the payment will be made and how much it is going to be. Liability for Unauthorized Use CONTACT US IMMEDIATELY if you believe that your Debit Access, Business Debit Access, ATM Card, or PIN, has been lost or stolen or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning our Member Service Center at (800) or (908) (outside U.S.) is the best way of keeping your loses to a minimum. You could lose all of your money in the account(s) if you take no action to notify us of the loss of your Debit Access, Business Debit Access, ATM Card, or PIN. If you notify us of the loss your liability will be as follows: 1. If you contact us within two business days of the

5 loss or your discovery of the loss, you can lose no more than $50.00 if someone used your Debit Access, Business Debit Access, ATM Card, or PIN without your permission. 2. If someone used your Home Banking Service, Debit Access, Business Debit Access, ATM Card, or PIN without your permission, you could lose as much as $ if you DO NOT contact us within two business days after you learn of the loss and we can prove that we could have prevented the loss if you had contacted us. 3. Also, if your monthly statement shows transfers or purchases that you did not make and you do not contact us within 60 days after the statement was mailed to you, you may not get back any money after the 60 days, if we can prove that your contacting us would have prevented the losses. Where to Call/Write Call: (800) or (908) (outside of the continental U.S.) Monday Friday, 8:00 AM 7:00 PM Saturday, 8:00 AM 1:00 PM Write: Affinity Federal Credit Union. Member Service Center, P.O. Box 621, Basking Ridge, NJ Pre-Authorized Credit Service Kinds of Transactions You may arrange to have third persons make regular deposits to your account(s) by electronic means. Charges for Deposits No additional charge is imposed on your account because you have this service. Pre-Authorized Debit Service Kinds of Transactions You may arrange to have third persons make regular withdrawals from your account(s) by electronic means. 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 or damages. However, there are some exceptions. We will not be liable, for instance: 1. If through no fault of ours, you do not have enough money in your account to make the transfer. 2. If the transfer would go over the credit limit on your PrivateLine.

6 3. If the automated teller machine does not have enough cash. 4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer. 5. If circumstances beyond our control, such as a fire or flood, prevent the transfer despite reasonable precautions that we have taken. There may be other exceptions stated in our agreement with you. Right to Stop Payment of Pre-Authorized Transfers If you have made arrangements with us to make a regular payment or withdrawal out of your account(s), you can stop these payments by following these directions: (a) notify the company crediting/debiting your account(s) in writing of the stop payment; (b) send a copy of that letter to Affinity Federal Credit Union, P.O. Box 621, Basking Ridge, NJ Attention: Operations Department/ACH Stop Payment, 3 business days prior to the scheduled transfer. If you have made arrangements to make recurring or installment payments from your Visa Debit Card you can stop these payments by notifying Affinity either (a) orally by calling us at ; (b) in writing by sending a letter to Affinity Federal Credit Union, PO Box 621, Basking Ridge, NJ , Attention: Card Products Department at least 3 business days prior to the scheduled date of the electronic transfer. In the event the stop payment request is oral, you have 14 days from the oral notification to send something in writing. In the event we do not receive the written notification within 14 days of the oral request, the stop-payment order ceases to be binding. Notice of Varying Amounts of Pre-Authorized Transfers If these regular payments may vary in the amount, we will tell you, 10 days before each payment, when it will be made and how much it will be. Business Days Our business days are Monday through Friday (8:00 AM to 7:00 PM ET) except holidays. Information Disclosure We will not disclose information to third parties about your accounts or transaction(s) unless: 1. It is necessary to verify the existence or condition

7 of your account(s) for a third party, such as a credit reporting agency or merchant. 2. It is needed to comply with a government agency or court order. 3. You give us written permission. In Case of Errors or Questions About Your EFT Transactions Telephone us at (800) or (908) (outside the U.S.) or write to us at: Affinity Federal Credit Union, Member Service Center, P.O. Box 621, Basking Ridge, NJ Contact us as soon as you can if you think that your statement or receipt is wrong or if you need more information about a transaction listed on your statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. You must provide us with the following: 1. Tell us your name, member account number, Debit Access, Business Debit Access or ATM Card number. 2. Describe the error or the transaction that you are unsure about, and explain as clearly as possible 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, you must also send your complaint or question in writing within 10 business days. We will tell you the results of our investigation, within 10 business days for Debit Access, Business Debit Access or ATM Card transactions or 20 business days for Debit Access, Business Debit Access POS purchase transactions after we hear from you, and will correct any error. We may take up to 45 days or more for Debit Access, Business Debit Access or ATM Card transactions or 90 days for Debit Access, Business Debit Access purchase transactions to investigate your complaint or question. If we decide to do this, we will recredit your account within 10 business days for the amount that you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. For errors involving new accounts, point of sale, or foreign initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. If we do not receive your complaint or question IN WRITING within 10 business days, we may not recredit your account.

8 If we decide there is no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we use in our investigation. If we have credited your account with funds while we were investigating an error, we will debit your account for those funds if no error has occurred. Change of Name/Address You must notify us promptly and in writing of any change in your name and/or address. You can also update your information online through Internet Account Access. Amendments and Cancellation The Credit Union can, at any time (subject to legal restrictions), amend this agreement or cancel your privileges to use your Debit Access, Business Debit Access, ATM Card, and Home Banking. You agree that the Debit Access, Business Debit Access and ATM Card are the property of the Credit Union and are not transferable. You agree to destroy or return to us any card(s) in your possession at our request. If you no longer wish to use the card(s), destroy it at once by cutting it in half and returning it to Affinity. Effective Date This agreement becomes effective when you sign or use the card or any service. Multicurrency Conversion Transactions made in foreign countries will be billed to you in US dollars. Conversion to US dollars is determined by a rate selected by the card processor from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate the card processor itself receives or the government-mandated rate in effect for the applicable central processing date plus 1 percent currency conversion fee. Single-Currency Converstion (Visa Only) Transactions made in foreign countries processed in US dollars are known as single-currency transactions. Single-currency transactions are subject to an.80% International Service Assessment (ISA) fee. The single-currency ISA fees will appear as a separate item on your statement for each transaction completed in a foreign country in US dollars. It is important to note that transactions conducted in US military bases, territories, embassies, or consulates; and fund transfers will not be subject to the.80% ISA fee (05/11)