Educators C r e d i t U n i o n Online Disclosures

Transcription

1 Educators C r e d i t U n i o n Online Disclosures Educators Credit Union Internet Account Access and Bill Payment Services Agreement and Disclosure This Internet Account Access Agreement and Disclosure ( Agreement ) describes your rights and obligations as a user of the Internet Account Access service or the Bill Payer service ( Services ). It also describes the rights and obligations of Educators Credit Union. Please read this Agreement carefully. By requesting and using one of these Services, or authorizing any other persons to uses these services, you agree to comply with the terms and conditions of this Agreement. 1. Definitions The following definitions apply in this Agreement; a. Authorized Representative refers to a person with authority (with respect to the account); b. Bill Payment is the online service that enables the scheduling of bill payments using a personal computer; c. ISP refers to you Internet Service Provider; d. Internet Account Access is the internet-based service providing access to your Credit Union account(s); e. Online Account means any Credit Union account or loan from which you will be conducting transactions using a Service; f. Home banking is Educators Credit Union s online banking; g. Password is the member-generated code or PIN (Personal Identification Number) selected by you or assigned to you for use during the initial sign-on, or the code you select after the initial sign-on, that establishes your connection to the Service and without which you cannot access the Service; h. PC means your personal computer which enables you, with the Internet browser and ISP, to access your Online Account; i. Time of day references are to Central Standard time; j. User ID is the Credit Union-generated identification code assigned to you for your connection to the Service; k. We, us, Or Credit Union refers to Educators Credit Union which offers the Services and which holds the accounts accessed by the Services; l. You, or your refers to the owner of the account or the authorized representative. 2. Access to Services The Credit Union will provide instructions (accessed by clicking the on-line Help button, once you have signed into the Service) on how to use the Internet Account Access and Bill Payment services. You will gain access to your Online Accounts through the use of your

2 Internet-enabled device, your ISP, your password and your User ID. You may access your online Accounts 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software. You can initiate our Internet Account Access Service at any time by following the online instructions provided. Note that during your first sign on you will be required to give your address. You will be required to complete an application and to receive prior Credit Union authorization in order to enroll in our Bill Payment service. This enrollment process assures that your selected credit union account is eligible and in good standing for the service. The process also verifies that appropriate security measures are in place to protect your privacy while using this service. Please allow up to three (3) days for your application to be reviewed and your Bill Payment service to be initiated. For purposes of transactions, the Credit Union s business days are Monday through Friday. All Online Credit Union transaction request received after 11:00 p.m. Central Standard Time on business days and all transactions that are requested on Saturdays, Sundays, or holidays on which the Credit Union chooses to remain closed will be processed on the Credit Union s next business day. The Credit Union s business day begins at 9:00 a.m. Central Standard Time. a. Account Access. You may access any of your Credit Union personal accounts online, including savings, checking, and club accounts, certificates of deposit, and loan accounts. b. Transfer of Funds. In addition to viewing account information, you may use Internet Account Access to conduct the transfer of funds. You may make one-time transfers or schedule future or recurring transfers such as transfers to make loan payments. You may transfer funds between your checking accounts and share savings accounts and from your checking or share savings accounts to your club accounts. NOTE: Because regulations require the Credit Union to limit preauthorized transfers (including Internet Account Access transfers), the following limitations apply; You can make no more than six 6) transfers per statement period by preauthorized or automatic transfer or by telephone or Internet Account Access from any money market or savings account. c. Additional Services. New services may be introduced for Internet Account Access from time to time. The Credit Union will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be provided to you concerning these services. 3. Schedule of Fees and Costs. There is not a fee for Internet Account Access. The Credit Union may in the future institute a monthly Bill Payment fee; if and when this happens, you agree to pay such fee. You also agree that the Credit Union shall give a minimum of 30 days notice prior to changing or increasing a Bill Payment fee. Fees related to all accounts are available on request. You agree to pay all payments scheduled by you from your Bill Payment account and by any person authorized by you to use the PIN for Internet Account Access or Bill Payment services, together with any additional charges you may incur for making such payments using this service. You agree to pay any fees and charges assessed against your online accounts under the terms of Agreement, the Fee Schedule, and any other agreement you

3 have with the Credit Union. If you do not pay any amounts owing to the Credit Union under this Agreement (including overdrafts on your Bill Payment account), you authorize the Credit Union, in its sole discretion, to add any amount owing to the Credit Union to the balance of any Loan or Line of Credit you have with the Credit Union. Additionally, if legal action is necessary to enforce this Agreement or collect any amount owing to the Credit Union or collect any fees or charges assessed under this Agreement, the Credit Union has the right, subject to applicable law, to payment by you of all attorneys fees and cost, including fees on any appeal and any post judgment actions. You agree that such legal action may be filed and heard in the county and state in which the Credit Union s principal place of doing business is located, if allowed by applicable law. Any disputes regarding this agreement shall be within the jurisdiction of the court of the county in which the credit union s principal place of doing business is located. 4. Statements and Notices. You will continue to receive your regular account statement either monthly or quarterly, depending on the type of account. Members with checking accounts will receive monthly statements. Members who do not have a checking account will receive a statement at least quarterly, as well as for any month in which an electronic transfer transaction is executed. Statements and notices will be mailed to you at the most recent address you have given the Credit Union. Notice to any of you will be notice to all of you. You agree to promptly notify the Credit Union in writing of any address change. Additionally, you agree to notify the Credit Union in writing at least ten (10) Business Days in advance of any change in your Checking Account or your general Credit Union status. 5. Use of Your Security Password/PIN (Personal Identification Number) To access your online accounts, you must use your Internet Access Account Password. Authorized use of your Password/PIN for any Internet Account Access transaction or Bill Payment transaction is an order by you for that transaction on your Online Accounts. Delivering your Password/PIN to another person constitutes authorization of that person to conduct any Internet Account Access inquiry or transaction on your Online Accounts. You will be liable for all authorized Internet Account Access transactions. You will hold your Password/PIN in strict confidence. You will have the capability to change your Password using the Internet Account Access and Bill Payment services. You are encouraged to change your password periodically as a privacy and security precaution. In order to protect yourself against fraud, you should adhere to the following guidelines: Do not give out your account information, Password/PIN, or User ID; Do not leave your PC unattended while you are in the Credit Union s Internet Account Access site; Never leave your account information within range of others; and Do not send privileged account information (account number, Password/PIN, etc.) in any public or general system. If you believe your Password/PIN has been lost or stolen, or if you suspect any fraudulent activity on your account, call the Credit Union immediately between 9 a.m. and 5 p.m. Telephoning the Credit Union is the best way of minimizing your losses and liability (See Sections 11 and 12 of this

4 Agreement). If the Credit Union receives such notice, the Credit Union may, at its discretion, freeze your Online Accounts to prevent further electronic access. If you believe your Password has been lost or stolen, please use the Password change feature within the Internet Account Access section of the Web site to change your Password. 6. Electronic Mail ( ). If you send the Credit Union an message at the Credit Union will be deemed to have received it on the following business day. You may not rely on if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur. NOTE: transmissions outside of the Internet Account Access site are not secure. We advise you not send us or ask for sensitive information such as account numbers, Password/PIN, account information, etc. via any general or public system. However, if you do wish to contact us electronically, please use the Message Center provided in our Internet Account Access site. You are encouraged to use this secure form of when you do choose to use communication with the Credit Union regarding inquires about an electronic funds transfer error resolution, reporting unauthorized transactions, or contacting the Credit Union regarding other concerns of a confidential nature. 7. Term and Termination a. Term. This Agreement will become effective on the Effective Date and shall remain in full force and effect until termination in accordance with the following provisions. b. Termination. We may immediately terminate your electronic account access privileges (including the Bill Payment Service) without notice to you under the following circumstances: You do not pay any fee required by this Agreement when due; You do not comply with this agreement or any agreement governing your deposit or loan accounts; Your accounts are not maintained in good standing; or We may terminate this Agreement or your use of the services for any reason at the Credit Union s sole discretion. We will notify you as required by applicable law if we terminate this Agreement or your use of the Services for any other reason. c. Termination for Convenience. To terminate this Agreement, you must notify the Credit Union, providing your name and address, indicating the Service(s) you are discontinuing, and stating the termination date of the Service(s). When Bill Payment is terminated, any bill payments prescheduled to be made through Internet Account Access will also be terminated. Your final charge, if any, for the Bill Payment service will be assessed at the end of your statement cycle. Notice of termination shall not be effective on the Credit Union until the business day after the business day on which such notice is actually received by the Credit Union. You may notify the Credit Union by any one of the following methods:

5 By sending an to Insert in the Subject Line: Internet Account Access and Bill Payment; By calling (254) or (800) ; or By writing a letter and either sending it to the following address: PO Box 20728, Waco TX , or by giving the letter to a Member Services Specialist at any of the Credit Union s locations. If a fee is assessed to the Service, and you are not paying the monthly service charge, we may convert your account to inactive status. We may also convert your account to inactive if you do not sign on to the service or have any transaction scheduled through the Service during any consecutive 90-day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service. 8. Liability. a. Our Liability. This section explains our liability to you only to the extent that any other agreement, notices or disclosure have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to your Internet Account Access of Bill Payment services accounts. Unless otherwise required by applicable law, we are only responsible for performing the Internet Account Access and Bill Payment services and delineated in this Agreement. We will be liable for the amount of any material losses or damages incurred by you resulting directly from our gross negligence. We will not be liable to you in the following instances: If through no fault of the Credit Union, you do not have enough money in your account to make the transfer; If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevent the transfer despite reasonable precautions that we have taken; If there is a hold on your account, or if access to your account is blocked in accordance with the Credit Union s Internet Account Access policy; If your funds are subject to a legal proceeding or other encumbrance restricting the transfer. If your transfer authorization terminates by operation of law; If you believe someone has accessed your accounts without your permission and you fail to notify the Credit Union immediately; If you have not properly followed the instructions on how to make a transfer included in this Agreement; If we have received incomplete or inaccurate information from you or a third party involving the account or transfer; or If we have a reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring or if you default under this Agreement, your membership and account agreement with the Credit Union, a credit agreement or any other agreement with us, or if we or you terminate this Agreement. IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR

6 CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT. b. Indemnification. You agree to indemnify, defend and hold us, our affiliate companies, directors, officers, employees and agents harmless against any third party claim, demand, suit, action or other proceeding and any expenses related to an Internet Account Access or Bill Payment Account; c. Third Parties. We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an internet browser provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), by an internet access provider, or by an online service provider. d. We will not be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an Internet Account or Bill Payment account; e. Virus Protection. The Credit Union is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, your files, and your hardware. 9. General Terms and Conditions. a. Credit Union Agreements. In addition to this Agreement, you and the Credit Union agree to be bound by and comply with the requirements of all the agreements applicable to each of your Online Accounts. Your use of the Internet Account Access Service or the Bill Payment Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review these other disclosures carefully; including disclosure of charges that may be imposed for electronic funds transfers completed as well as disclosure of any limitations upon your rights to make electronic funds transfers, and you should carefully review the fee schedule contained in this Agreement. We will automatically deduct the fees, if any, related to the Bill Payment service from your Bill Payment Account each month. If a fee is assessed we will automatically deduct the fees, if any applicable, related to the Internet Account Access service from your specified account each month. b. Changes and Modifications. The Credit Union may modify the terms and conditions applicable to the Services from time to time. We may send any notice required by applicable law to you via , except as prohibited by applicable law, and you will be deemed to have received this notice three days after it is sent. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice. c. Captions. The captions of sections in this Agreement are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement. d. Assignment. We may assign this Agreement to an affiliate of the Credit Union or any successor in interest in the event of a merger, reorganization, change of control, acquisition or sale of all or substantially all assets of the business to which this Agreement is related without the other party s prior written consent.

7 e. Notices. Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically. f. Disclosure of Information. We will only disclose information to third parties about your account or the transfers your make under the following circumstances: Where it is necessary for the provision of Internet Account Access and for completing transfers; In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; In order to comply with government court orders, or other reporting requirements; If you give us your permission; or To the Credit Union affiliated companies. g. Governing Law. This Agreement is governed by the laws of the State of Texas and applicable federal law. Electronic Funds Transfer Disclosure Consumer s Liability for Unauthorized Transfers and Advisability of Prompt Reporting. Tell us AT ONCE if you believe your Password/PIN have been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your Account (plus your maximum Line of Credit). If you tell us within two (2) business days, you can lose no more than $50 if someone used your Password/PIN without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Password/PIN, and we can prove we could have stopped someone from using your Password/PIN 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. Telephone Number and Address to Be Notified in the Event of An Unauthorized Transfer are listed below. If you believe your Password/PIN has been lost or stolen or that someone has transferred or may transfer money from your Account or Line of Credit without your permission, call (254) , (800) , or write us at Educators Credit Union, PO Box 20728, Waco TX What Constitutes a Credit Union Business Day: Business days are Monday through Friday; Federal holidays are not included. Types of Available Transfers and Limits on Transfers. Internet Account Access and Bill Payment Service Transactions and Limitations. You may access your Online Accounts by using your Password/PIN and Internet Account Access and Bill Payment Service to: Checking, savings and money market. You may use the Bill Payment Service to request that bills be paid from your Checking Account. There are no limitations on the number of bills you can pay. Payment orders received by us after 11:00

8 p.m. Central Standard Time on a business day or any time on a non-business day (Saturday, Sunday, or a holiday) will not be processed until the next business day. FOR SECURITY REASONS THERE ARE OTHER LIMITATIONS ON THE NUMBERS AND AMOUNTS OF TRANSFERS AND BILL PAYMENTS YOU CAN MAKE USING YOUR Password/PIN. Charges for Transfers or Right to Make Transfers. You will not be charged a fixed fee per month for use of the Internet Account Access Service. You may be charged a separate fixed monthly fee for access to the Bill Payment service, which will also be based upon your checking account relationship with the Credit Union. This fixed fee, if any, will be charged regardless of whether the Internet Access Service or Bill Payment service was used during the billing cycle. You agree to pay such charges and authorize the Credit Union to charge your Checking Account for these amounts and any additional charges that may be incurred by you (or your Share Savings Account if you have no checking account relationship with the Credit Union and only enroll in our Internet Account Access service). Any fees associated with your standard share savings and checking accounts will continue to apply. You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or Internet service providers. Right to Receive Documentation of Transfers. You will get a monthly account statement from us for your Checking Account(s). If you do not have a Checking Account, you will get a quarterly account statement from us for your Share Savings Account(s), unless there are no electronic transfers in a particular month. In any case, you will get a statement at least quarterly. If you have arranged to have a direct deposit made to your account at least once every sixty (60) days from the same source and you do not receive a receipt for such deposits, you can find out whether or not the deposit has been made by using the Internet Account Access service or by calling (254) or (800) This does not apply to transactions occurring outside the United States. Disclosure of Account Information to Third Parties. We will disclose information to third parties about your account or the transfers you make: Where it is necessary for completing transactions; In order to verify the existence and condition of your account to a third party, such as a credit bureau, merchant, or Payee; To a consumer reporting agency for research purposes only; In order to comply with a government agency or court orders; or If you give us your written permission. Credit Union s Liability For Failure to Make Transfers, Liability for Direct or Consequential Damages. If we do not complete a transfer (including Bill Payments) 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:

9 If, through no fault of ours, your Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft; The bill payment processing center is not working properly and you know or have been advised by the Credit Union about the malfunction before you execute the transaction; The Payee mishandles or delays a payment sent by the Credit Union; You have not provided the Credit Union with the correct name, phone number or account information for the payee; or Circumstances beyond the Credit Union s control or that of the bill payment processing center (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. Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled to be initiated, and we do not do so, we will be liable for your losses or damages. There may be other exceptions stated in our agreements with you. Stop Payment Rights. If you have arranged to make regular electronic funds transfers out of your account(s) for money you owe others, you may stop payment on preauthorized transfers from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notifications. If we do not receive the written confirmation the oral stop payment order shall cease to be binding fourteen (14) days after it has been made. Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay is required to 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. In Case of Errors or Questions About Your Electronic Transfers. Telephone us at (254) , (800) , or write us at Educators Credit Union, PO Box Waco TX 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; 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 in writing within ten (10) business days. We will

10 determine whether an error occurred within ten (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 forty-five (45) days (ninety (90) days if the transfer involved a pointof-sale transaction or is a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount 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. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. We will tell you the results within three (3) business days we may not credit your account. We will tell you the results within three (3) 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.