GEICO Federal Credit Union Online Banking, Mobile Banking and Bill Pay Agreement and Disclosure

Transcription

1 GEICO Federal Credit Union Online Banking, Mobile Banking and Bill Pay Agreement and Disclosure This Online Banking, Mobile Banking and Bill Pay Agreement and Disclosure ( Agreement ) contains terms and conditions governing GEICO Federal Credit Union s (GEICO FCU) Online and Mobile Banking Internet Access service (also called GEICO FCU Online Banking ) and Online Bill Pay Service (also called Bill Pay ). You understand that by using one of the services available through GEICO FCU Online and Mobile Banking and Bill Pay, you agree to the terms and conditions applicable to that service as set forth in this Agreement. Please keep a copy of this Agreement for your records. If you are unable to print a copy or need assistance, please contact GEICO FCU. This Agreement is in addition to the other terms and conditions previously disclosed to you concerning your account(s) with GEICO Federal Credit Union. As described more fully in this Agreement GEICO FCU Online and Mobile Banking and Bill Pay are Internet-based services that permit you, through the use of a personal computer or Internet-enabled device, to: (1) Obtain balance and recent transaction information on your share and loan accounts with GEICO FCU. (2) Transfer funds between certain accounts linked to your membership number; (3) Download account information. (4) Reorder Share Drafts, if the last order was placed by the credit union. (5) View tax Information (6) Change your password online (7) Pay bills online (8) View statements online 1. DEFINITIONS In this Agreement, the following words have the meanings given below: You and Your mean each person who enrolls for GEICO FCU Online and Mobile Banking and Bill Pay, authorized users and all account owners if the accounts are joint accounts, jointly and severally. Password means your code for Online Banking and your code for Bill Pay you select from time to time. We, us, our, or GEICO FCU refer to GEICO Federal Credit Union. Service(s) means the account transfer, inquiry, and account request, which are available to you through GEICO FCU Online and Mobile Banking and Bill Pay. 1 of 11

2 Account and Accounts mean those Share Draft Checking and Share Savings Accounts from which you may make withdrawals and transfers through the Service. Transaction means electronic funds transfer (EFT) to or from your account conducted through the Service. Business Days means Monday through Friday, excluding Federal Holidays. 2. GENERAL TERMS a. Enrollment: You must be a member of GEICO FCU in good standing, have met the $25 minimum share balance requirement for your S1 regular Share Savings Account and must register online. b. Computer Requirements: You are required to acquire and maintain, at your own expense, access to the Internet and an Internet browser with sufficient security and encryption capacities as required from time to time. You are responsible for the maintenance of your personal computer or other Internet enabled device, the purchase and use of virus protection software and for obtaining technical support from the manufacturer for your personal computer, Internet browser, software and other auxiliary devices (such as a printer). Support from GEICO FCU is limited to assistance on the use of GEICO FCU Online Banking and questions regarding Transactions processed on your account. You represent that you have considered the security procedures of GEICO FCU Online Banking and find that the security procedures are commercially reasonable for verifying that a request or other communications purporting to have been issued by you is, in fact, yours. In reaching this determination, you have considered (and will continue to monitor and consider) the size, type and frequency of requests and other communications that you anticipate issuing to us. c. Use of and other Electronic Communications: You agree that we may provide this Agreement, amendments to this Agreement, and other communications regarding Transactions, including periodic statements, electronically in a format that allows visual text to be displayed on your personal computer or other electronic equipment. You agree to review these communications when a link for such items is provided or when an message is sent to you. d. Password: When you enroll in Online Banking, you must choose a user name and password. If access is requested for more than one account, you must enroll each account separately. You acknowledge that if there is more than one owner of your account, all owners on your account are authorized to process transactions through GEICO FCU Online Banking using one Password. No employee of GEICO FCU will have access to, or knowledge of your Password, and you should not disclose your Password to us. 2 of 11

3 You agree to change your Password immediately after your initial sign-on, and to periodically change your Password to prevent unauthorized access to your account. You will hold in strict confidence your Password and you will NOT select a Password that may be easily discovered (such as your birth date). You agree that you will NOT write down your Password. This action invites misuse of accounts if such items are lost or stolen. You should protect your Password, as you would cash, credit cards or checks it is the key with which someone can access your accounts. e. Transactions and Authority to Charge Account: Access to your accounts to process Transactions may be made through GEICO FCU Online Banking. You authorize us to charge or deduct from your Account any Transactions completed through the use of the Services, including the amount of any transfer that you make and any charges for the Services. You authorize us to process Transactions according to the instructions received through the Services. You understand that by making transfers through the Services, we rely on the Account and other identifying numbers you supply. In addition, you understand that Transactions will be made according to those Account and other identifying numbers (and a deduction from your Account will be made), even if such numbers do not match the beneficiary or Account you intended to pay or transfer funds to. You authorize us to initiate any reversing entry or reversing file and to debit your Accounts with us or elsewhere, in order to correct a mistaken credit entry. If, by mistake, the use of your Password permits you to withdraw funds from an account that you should not be allowed to use in such a manner, we may charge the amount involved to a valid Account owned by you. You agree not to conduct Transactions that would overdraw any Account in excess of your balance or overdraft limit. If you do so, then you owe us the amount immediately, plus any applicable service charge. We may also deduct, without prior notification to you, the amount you owe from any of your accounts, or, if you have an overdraft protection loan account, the overdrawn amount will be considered as a request for a loan advance, at our discretion. f. Collection Expenses: You are liable to us for any loss, cost or expense we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, costs or expenses from your Account without prior notice to you. If we bring legal action to collect any amount due or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post judgment collection actions. g. Reporting a Lost Password or Other Unauthorized Transaction: If you believe that your Password has been lost, stolen, or used by an unauthorized person or that someone has transferred or may transfer funds from your account without your permission, you will tell us at once. 3 of 11

4 The fastest way to notify us is to call 1 (800) or speak with your GEICO FCU branch manager during business hours on any Business Day. Business Days are Monday Friday, excluding federal holidays. Check with your branch for specific Member Service hours. Or, you may write to us at: GEICO Federal Credit Union One GEICO Plaza Washington D.C If you recover your Password after you have notified us, you will not use it unless we tell you otherwise. h. Responsibility: You are responsible for all Transactions made on your accounts by anyone with your Password, including unauthorized Transactions, subject to the limitations set by applicable law. Legal limitations on your liability for unauthorized Transactions are summarized in Section 4(a) below. You agree to hold us harmless for any and all Transactions you authorize (either in writing or by your words or conduct) on your Account. We have no obligation to monitor the use of your Password or notify you if unusual activity occurs. i. Termination and Amendment: We may terminate or cancel your right to make Transactions or cancel this Agreement with you at any time. We may give notice of termination or cancellation, but we are not obligated to do so. If you close your account, your accounts become overdrawn or if you lose your member in good standing status, GEICO FCU may cancel this Agreement immediately. Failure to use the Service for a consecutive period of 6 months may result in termination of your access to the Service and you must re-enroll to use the Service. Your Password may not be used after we terminate it. You may terminate or cancel your access to GEICO FCU Online Banking by giving us written notice specifying that you wish to terminate. Termination of the Service by one account owner terminates access for all account owners. Your written notice of termination will become effective no later than two Business Days after we receive your notice. Any termination will NOT affect any liability incurred by you prior to termination. We may change the terms under this part at any time by electronically transmitting or mailing a copy of the changes to your most recent account address on file. Unless we are required to give you advance notice by law, changes are effective on the date changes are mailed or transmitted, unless a later time is stated in the notice. Use of your Password after the effective date of the change will acknowledge your acceptance of that change. j. System Malfunction: You will not attempt to make a Transaction when GEICO FCU Online Banking informs you (or other circumstances give you reason to believe) that the system is closed or is not operating properly due to a technical malfunction, or is unable to initiate the Transaction you desired. 4 of 11

5 k. Agreement Controls: Both you and we will be bound by the terms of this Agreement. The instructions given by GEICO FCU Online Banking on how to use the Services as well as written instructions for GEICO FCU Online Banking are a part of this Agreement. If there is a conflict between the terms of this Agreement and something said by our employees, you agree that these terms control. This Agreement is governed by federal law and, to the extent not preempted, the laws of Maryland (excluding conflicts of law principles). l. Circumstances in Which We will Disclose Account Information to Third Parties. We will disclose information to third parties about your Account or Transactions that you make: When it is necessary for completing Transactions; To verify the existence and condition of your account to a third party such as a credit bureau, consumer reporting agency, merchants, etc.; In the course of making reports or returns required by federal or state law, to comply with any government agency, court order, or applicable law and to our supervisory agency; As permitted by Maryland law, including the Right to Financial Privacy Act and the Fair Credit Reporting Act; As described in the Privacy Notice we give you from time to time; When you authorize us to do so. 3. DETAILED DESCRIPTION OF SERVICES Unless otherwise indicated, the information in this section applies to Services available through GEICO FCU Online Banking. a. General Availability: You may use the Service day or night, 7 days a week by signing on to GEICO FCU Online Banking and entering your membership number and Password for the Services desired. The Services may be temporarily unavailable for scheduled routine maintenance or technical difficulties experienced by us or our agents. b. Types of Transactions Available through the GEICO FCU Online Banking System and Limits on Transactions: The Service, with your membership number and your Password, may be used to make the following Transactions or requests: Transfer funds between your account types, make a transfer to an account from a Line of Credit Account, or make a transfer from your account to make a payment on GEICO FCU loans. 5 of 11

6 Make balance inquiries in regards to your share, certificate and loan accounts, make inquiries concerning recent deposits, withdrawals and payments, and view recent account statements. Submit a request or advance on certain loans and make inquiries on the status of a loan request submitted through GEICO FCU Online Banking. Download transaction information from GEICO FCU Online Banking. Except as provided in this paragraph, you may make any number of Transactions among your Accounts through Service as long as you stay within the available funds for the Account. For Savings and Money Market Accounts, you may make no more than six (6) pre-authorized transfers from such an account (including transfers made through the Service, and automatic transfers to cover check overdrafts monthly). No more than three (3) of the six (6) may be made (subject to availability) by check, debit card or similar order. For security reasons, there may be other limits on the number or dollar amount of Transactions you may make through the Service. Transactions conducted through the Services are processed at the time you conduct them. You may not cancel or stop a Transaction once made. c. Documentation and Verification of Transactions: You will be asked to confirm a Transaction; the Transaction is considered to be complete only after you have had the opportunity to review the details of the Transaction. Confirmation that the Transaction has been accepted will be given; however you will not receive a reference number or transaction receipt. You should record the information about the Transaction in the register you keep for the account; this will help in resolving any problems that may occur. If you have a connected printer, you should be able to print a copy of the confirmation supplied. Information concerning Transactions conducted through the Service will be shown on your periodic statements for the appropriate accounts. A statement will be generated monthly, unless there are no Transactions in a particular month. In any case, a statement will be generated at least quarterly. Refer to Section 4, concerning your duties to report errors and questions. d. Circumstances Under Which Transactions Cannot Be Made: From time to time, Transactions cannot be made for one or more of the reasons listed below. Through no fault of ours, you do not have enough money available in your Account to make the Transaction, The Transaction would exceed your credit limit on your Overdraft or other Line of Credit, Circumstances beyond our control (such as fire or flood) prevent the Transaction, despite reasonable precautions we have taken, The funds are subject to legal process or other encumbrance restricting such Transaction, 6 of 11

7 You have not properly followed instructions for operation of the Services, The Transaction would exceed one of the established limits contained in this Agreement, Your computer or Internet-enabled device, phone lines or GEICO FCU Online Banking was not working properly or was temporarily unavailable, and this problem was apparent or should have been apparent to you when you attempted the Transaction, If the funds in your account are not available due to compliance with legal processes such as garnishment, tax levy, court order, as permitted in our Member and Account Agreement with you, We have received incomplete or inaccurate information from you or a third party involving the account or Transaction, We have reasonable basis for believing that unauthorized use of your Password or Account has occurred or may be occurring, You or we have terminated or cancelled this Agreement or closed the account, We will NOT be liable for failing to make a Transaction to or from your Account on time or in the correct amount under any of these circumstances. 4. ADDITIONAL PROVISIONS ON UNAUTHORIZED, LIABLITY AND ERROR RESOLUTION a. Liability for Unauthorized Transactions: If you believe your Password is lost or stolen and tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone uses your Password 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 and we can prove that we could have stopped someone from using your Password without your permission if you had told us, you could be liable for as much as $ Also, in ALL cases, if your statement shows Transactions that you did not make, you should tell us at once as provided in Section 2 (g). If you do not tell us within 60 days after the statement was made available 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. b. In Case of Errors or Questions About Your Transactions: Write us at GEICO Federal Credit Union (GEICO FCU), One GEICO Plaza, Washington D.C , as soon as you can, if you think your statement or confirmation is wrong or if you need more information about a Transaction listed on the statement or confirmation. We will not accept notification by . We must hear from you no later than 60 days after we send the FIRST statement on which the problem or error appeared. You must: 7 of 11

8 Tell us your name and account number, Describe the error or the Transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information, and Tell us the dollar amount of the suspected error. GEICO FCU will investigate your complaint and tell you the results within 10 business days (or 20 business days for foreign-initiated transactions or 20 business days for all transfers resulting from pointof-sale ATM/debit card transactions) after we hear from you in writing. If it is determined that you were charged in error, we will credit your account within the initial 10 business days. In the event that more than the initial 10 business days is needed for the GEICO FCU investigation, we may take up to 45 calendar days (90 calendar days for foreign-initiated transfers and all transfers resulting from point-of-sale ATM/debit card transactions or if the EFT occurred within 30 days after the first deposit to a new account was made) to complete the investigation. If GEICO FCU takes more than the initial 10 business days to complete the investigation, we will temporarily credit your account for the amount in question. However, if we determine there is no error, the temporary credit will be removed immediately from your account and we will send you a written explanation within three (3) business days after we complete the investigation. 5. SCHEDULE OF FEES FOR THE GEICO FCU ONLINE BANKING SERVICE All fees are subject to change at any time, without advance notice. A current list of charges can be found in the Schedule of Fees, which is available at any branch office, online or by calling GEICO FCU. 6. OTHER ACCOUNT TERMS, APPLICABLE LAW The terms of this Agreement are to be construed in a manner that is consistent with the other terms of your Account Agreement with GEICO FCU. If a term or provision in this Agreement is inconsistent with a term or provision in your other agreements with GEICO FCU, and not otherwise required by applicable law, the other agreement term or provision controls this Agreement. This Agreement will be construed under applicable federal law and the law of the state where the account is established. 7. ONLINE BILL PAY SERVICE After your acceptance of this Agreement and completion of the subsequent online registration you will be notified by when the Service has been activated for you. This process should not take longer than three Business Days. We reserve the right to refuse enrollment in the Online Bill Pay Service to any member who does not meet the Online Bill Pay Service criteria established by us. Included in these criteria are the requirements that subscribers to this Service must live within the United States, its possessions and territories and that the applicant is a member in good standing at GEICO FCU. a. Online Bill Pay Service(s) By providing the Online Bill Pay Service with the names and account information of those entities and/or persons to whom you wish to direct payment, you authorize the Service to follow the Payment Instructions that it receives from you or your authorized user through the Online Bill Pay Service. When 8 of 11

9 the Service receives a Payment Instruction, you authorize it to debit your Account and remit funds on your behalf. Your accounts will continue to be subject to the agreements otherwise governing them, except where it is noted in this Agreement. Additionally, each account and Online Bill Pay Service will be subject to the following: 1. The terms or instructions appearing on a screen when using a Service; 2. GEICO FCU s rules, procedures and policies that are provided to you that are applicable to each account, GEICO FCU s Online Banking, Mobile Banking and Bill Pay Agreement and Disclosure; 3. Applicable state and federal laws and regulations. b. Scheduled Payments It is your responsibility to schedule your bill payments in such a manner that your obligations will be paid on time. Payment Instructions entered after the Cutoff Time or on a non-business Day will be considered entered in the Online Bill Pay Service on the next Business Day. If you properly follow our procedures, and the Online Bill Pay Service fails to send a payment according to the Payment Instructions received, GEICO FCU will bear responsibility for all late charges. c. Stop Payments A bill payment is "In Process" starting at the Cutoff Time on the Payment Date. A bill payment is a "Pending Payment", starting from the time you enter Payment Instructions until the payment is "In Process." You may cancel or edit any Pending Payment through the Online Bill Pay Service. There is no charge for canceling or editing a Pending Payment. You may not stop a payment after it is In Process. EXCEPT AS HEREIN PROVIDED IN THIS AGREEMENT, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUND TRANSFERS. THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT. d. Payment Methods Payment will be made to your Payee either by electronic delivery or by check. The method of payment depends upon the processing method that can be accommodated by the Payee or Online Bill Pay Service Provider (e.g., some Payees are unable to accept electronic payments). e. Prohibited Payments The following payment types are prohibited through the Service: 1. Tax Payments; 2. Court Ordered Payments; 3. Payments to Payees outside of the United States or its possessions/territories; 4. Payment for illegal activities; 5. Persons/Entities Prohibited by the Office of Foreign Asset Control; 6. Collection Agency. f. Limited Liability The Service will provide the best efforts to make all your payments properly. However, we shall incur no 9 of 11

10 liability if it is unable to complete any payments initiated by you through the Service because of the existence of any one or more of the following circumstances: 1. If, through no fault of ours, your Account does not contain sufficient funds to complete the payment or transfer, or the transfer would exceed the credit limit of your established line of credit account, if applicable; 2. The Online Bill Pay Service provider's processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction; 3. The Payee mishandles or delays a payment sent by the Service in a timely manner; 4. You have not provided the Service with the correct names, phone numbers, or account information for those persons or entities to whom you wish to direct payment; 5. Circumstances beyond the Service's control (such as, but not limited to, fire, flood, interference from an outside force or delays or losses caused by the U.S. Postal Service) that prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances; 6. For other exceptions to your liability as stated in our Electronic Fund Transfer Agreement and Online Banking, Mobile Banking and Bill Pay Agreement and Disclosure; 7. For any indirect, special or consequential damages, except to the extent such limitation of liability is not permitted by law. It is your responsibility to ensure there are sufficient funds in your Accounts to complete your Payment Instructions. If your Account has insufficient funds due to your scheduled bill payments, we may still pay your bill. We will notify you and charge you a NSF Fee. Please refer to our Schedule of Charges for the fee amount. We will not provide any additional notice concerning payments not made due to insufficient funds and we will not incur liability for incomplete transactions resulting from insufficient funds. You may verify transactions were processed by selecting the "Bill Payment" menu option. Provided none of the foregoing exceptions to the Service's performance obligations are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a person or entity which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Account. g. Payment Processing GEICO FCU is not required to make a payment that will overdraw the balance in your designated Accounts. We may, at our sole discretion, pay a scheduled bill payment which exceeds the balance in the Accounts. Should you have insufficient funds in your Accounts to cover your Processed Payments, you are responsible for satisfying all Processed Payment amounts and associated fees. Except as limited by your Account or Loan Agreements, your total payments for a Processing Day may not exceed $9, through the Online Bill Pay Service. No single payment may exceed $9, For security reasons we may further limit the frequency or dollar amount of transactions from your Account. h. Fees and Charges As a participant in the Online Bill Pay Service, you will be responsible for any and all hardware, software, telephone charges or Online Service Provider fees which you incur by using the Service. Additionally, the fees that have been separately disclosed to you on GEICO FCU s Schedule of Charges in connection with your Account(s) will continue to apply. You agree to pay such fees and charges, and authorize GEICO 10 of 11

11 FCU to charge your Account for these amounts and any additional charges that may be incurred by you. From time to time, the fees may be changed. We will notify you of any changes as required by law. In using the Online Bill Pay Service, you are requesting the system to make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Account (for example, there are not sufficient funds in your Payment Account to cover the transaction), the transaction may not be completed. In these cases, you agree that a non-sufficient funds (NSF) fee will be charged in accordance with GEICO FCU s established and published fees. Further, you also agree that a NSF fee may be charged to your account even if the payment is not returned but is paid and overdraws your Account. By enrolling for and using this Online Bill Pay Service you agree that GEICO FCU has the right to transfer funds from your available balance on your line of credit account as well as from all of your Share Accounts to recover funds for all payments that have been requested to be paid by you and your authorized user: this includes accounts on which you are the primary member-owner, as well as accounts on which you are the joint owner. i. Payee Limitations The Online Bill Pay Service reserves the right to refuse to pay any person or entity to which you may direct a payment. The Online Bill Pay Service is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. j. Information Authorization Through your enrollment in the Online Bill Pay Service, you agree that GEICO FCU (or its third-party bill pay service provider) reserves the right to request a credit agency report and/or a review of your credit rating at its own expense through an authorized credit agency/bureau. In addition, you agree that the Service reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems. 8. EXCLUSION OF WARRANTIES THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. 11 of 11