Electronic Funds Transfer Agreement and Disclosure
This Electronic Funds Transfer Agreement is the contract which
covers your and our rights and responsibilities concerning the electronic
funds transfer (“EFT”) services offered to you by Big
Island Federal Credit Union (“Credit Union”). In this
Agreement, the words “you” and “yours” mean
those who sign the application or account card as applicants, joint
owners, or any authorized users. The words “we,” “us,”
and “our” mean the Credit Union. The word “account”
means any one or more share and share draft accounts you have with
the Credit Union. Electronic funds transfers are electronically
initiated transfers of money from your account through the electronic
funds transfer services described below. By signing an application
or account card for EFT services, signing your Card, or using any
service, each of you, jointly and severally, agree to the terms
and conditions in this Agreement and any amendments for the EFT
services offered.
1. EFT Services. If approved, you may conduct any one or
more of the EFT services offered by the Credit Union.
- VISA Debit Card. You may use your Card to purchase
goods and services from participating merchants.
However, you may not use your card to initiate any type of
gambling transaction. If you wish to pay for goods and
services over the internet, you may be required to provide card
member security information before you will be permitted to
complete the transaction. For internet purchase
transactions you may be required to use a password associated
with your Card before you will be permitted to complete the
transaction. You agree that
you will not use your Card for any transaction that is illegal
under applicable federal, state, or local law. Funds to cover
your Card purchases will be deducted from your share draft account. If
the balance in your account is not sufficient to pay the transaction
amount, the credit union will pay the amount and treat the transaction
as a request to transfer funds from other deposit accounts,
approved overdraft protection accounts or loan accounts that
you have established with the Credit Union. If you initiate
a transaction that overdraws your Account, you agree to make
immediate payment of any overdrafts together with any service
charges to the Credit Union. In the event of repeated overdrafts,
the Credit Union may terminate all services under this Agreement. You
may use your Card and PIN (Personal Identification Number) in
automated teller machines of the Credit Union, PLUS, Prizm,
Exchange Networks, and such other machines or facilities as
the Credit Union may designate. At the present time, you may
also use your Card to:
- Make deposits to your share and share draft accounts.
- Withdraw funds from your share and share draft accounts.
- Transfer funds from your share and share draft accounts.
- Obtain balance information for your share and share draft
accounts.
- Make POS (Point-of-Sale) transactions with your Card and
PIN (Personal Identification Number) to purchase goods or
services at merchants that accept VISA.
- Order goods or services by mail or telephone from places
that accept VISA.
The following limitations on the frequency and amount of
VISA Debit Card transactions may apply:
Because of the servicing schedule and processing time required
in ATM operations, there may be a delay between the time a deposit
(either cash or check) is made and when it will be available for
withdrawal.
- 1-Touch Teller (Audio Response). If we approve the
1-Touch Teller audio response access service for your accounts,
a separate PIN (Personal Identification Number) will be assigned
to you. You must use your PIN (Personal Identification Number)
along with your account number to access your accounts. At
the present time you may use the audio response access service
to:
- Withdraw funds from your share and share draft accounts.
- Transfer funds from your share and share draft accounts.
- Obtain balance information for your share, share draft
and loan accounts.
- Make loan payments from your share and share draft accounts.
- Determine if a particular item has cleared.
- Verify the last date and amount of your payroll deposit.
Your accounts can be accessed under the 1-Touch Teller audio
response service via a touch tone telephone only. 1-Touch
Teller service will be available for your convenience twenty-four
(24) hours per day. This service may be interrupted for a
short time each day for data processing.
- See Section 2 for transfer limitations that may apply
to these transactions.
The Credit Union reserves the right to refuse any transaction
which would draw upon insufficient funds, exceed a credit
limit, lower an account below a required balance, or otherwise
require us to increase our required reserve on the account.
All checks are payable to you as a primary member and will
be mailed to your address of record. The Credit Union may
set other limits on the amount of any transaction, and you
will be notified of those limits. The Credit Union may refuse
to honor any transaction for which you do not have sufficient
available verified funds. The service will discontinue if
no transaction is entered after numerous unsuccessful attempts
to enter a transaction, and there may be limits on the duration
of each telephone call.
-
Preauthorized EFTs.
- Direct Deposit. Upon instruction of (i) your employer
or (ii) the Treasury Department or (iii) other financial
institutions, the Credit Union will accept direct deposits
of your paycheck or of federal recurring payments, such
as Social Security, to your share and/or share draft account.
- Preauthorized Debits. Upon instruction, we will pay certain
recurring transactions from your share and share draft account.
- See Section 2 for transfer limitations that may apply
to these transactions.
- Electronic Check Conversion/Electronic Returned Check Fees.
If you pay for something with a check or share draft you may
authorize your check or share draft to be converted to an electronic
fund transfer. You may also authorize merchants to electronically
debit your account for returned check fees. You are considered
to have authorized these electronic funds transfers if you complete
the transaction after being told (orally or by a notice posted
or sent to you) that the transfer may be processed electronically
or if you sign a written authorization.
- On-Line Branch Electronic/PC EFTs. If we approve the
On-Line Branch Electronic/PC access service for your accounts,
a separate Security Code will be assigned to you. You must
use your Security Code along with your User ID to access your
accounts. At the present time, you may use the On-Line Branch
access service to:
- Transfer funds from your share and share draft accounts.
- Obtain balance information for your share, share draft
and loan accounts.
- Make loan payments from your share and share draft accounts.
Your accounts can be accessed under the On-Line Branch Electronic/PC
access service via personal computer. On-Line branch service
will be available for your convenience twenty-four (24) hours
per day. This service may be interrupted for a short time each
day for data processing. We reserve the right to refuse any transaction
which would draw upon insufficient funds, exceed a credit limit,
lower an account below a required balance, or otherwise require
us to increase our required reserve on the account. All checks
are payable to you as a primary member and will be mailed to your
address of record. We may set other limits on the amount of any
transaction, and you will be notified of those limits. We may
refuse to honor any transaction for which you do not have sufficient
available verified funds. The service will discontinue if no
transaction is entered after numerous unsuccessful attempts to
enter a transaction, and there may be limits on the duration of
each access.
- There is no limit to the number of inquiries, transfers,
or withdrawal requests you may make in any one day.
- See Section 2 for transfer limitations that may apply to
these transactions.
f. On-Line Bill Pay (Bill Payment). We will not
process any bill payment transfer if
the required transaction information is incomplete.
We will withdraw the designated funds from your share draft
account for bill payment transfer by the designated cut-off time on
the date you schedule for payment. We will process your bill
payment transfer within a designated number of days before the rate
you are scheduled for payment. You must allow sufficient time
for vendors to process your payment after they receive a transfer
from us. Please leave as much time as though you were sending
your payment by mail. We cannot guarantee the time that any
payment will be credited to your account by the vendor.
- There is no limit on the number of bill payments per day.
2. Transfer Limitations.
For all share accounts, no more than six (6) preauthorized,
automatic, or telephone transfers and withdrawals may be made
from these accounts to another account of yours or to a third
party in any month, and no more than three (3) of these six (6)
may be made by check, draft, or access card to a third party.
If you exceed these limitations, your account may be subject to
a fee or be closed.
3. Condition of EFT Services.
- Ownership of Cards. Any Card or other device
which we supply to you is our property and must be returned
to us, or to any person whom we authorize to act as our agent,
or to any person who is authorized to honor the Card, immediately
according to instructions. The Card may be repossessed at any
time at our sole discretion without demand or notice. You cannot
transfer your Card or account to another person.
- Honoring the Card. Neither we nor merchants authorized
to honor the Card will be responsible for the failure or refusal
to honor the Card or any other device we supply you. If a merchant
agrees to give you a refund or adjustment, you agree to accept
a credit to your account in lieu of a cash refund.
- Foreign Transactions. VISA Purchases
and cash withdrawals made in foreign
currencies will be debited from your account in U.S. dollars.
The exchange rate between the transaction currency and the
billing currency used for processing international transactions
is a rate selected by Visa from a range of rates available in
wholesale currency markets for the applicable central processing
date, which rate may vary from the rate Visa itself receives or
the government-mandated rate in effect for the applicable
central processing date. The exchange
rate used on the processing date may differ from the rate that
would have been used on the purchase date or cardholder
statement posting date. A fee of 1% of the amount of the
transaction, calculated in U.S. dollars will be imposed on all
multi-currency foreign transactions, including purchases, cash
withdrawals and credits to your account. A fee of 0.8% of
the amount of the transaction, calculated in U.S. dollars will
be imposed on all single currency foreign transactions,
including purchases, cash withdrawals and credits to your
account. A foreign transaction is any transaction that you
complete or a merchant completes on your card outside of the
United States, with the exception of U.S. military bases, U.S.
territories, U.S. embassies or U.S. consulates.
- Security of Access Code. You may use one or more
access codes with your electronic funds transfers. The access
codes issued to you are for your security purposes. Any codes
issued to you are confidential and should not be disclosed to
third parties or recorded on or with the Card. You are responsible
for safekeeping your access codes. You agree not to disclose
or otherwise make your access codes available to anyone not
authorized to sign on your accounts. If you authorize anyone
to use your access codes, that authority shall continue until
you specifically revoke such authority by notifying the Credit
Union. You understand that any joint owner you authorize to
use an access code may withdraw or transfer funds from any of
your accounts. If you fail to maintain the security of these
access codes and the Credit Union suffers a loss, we may terminate
your EFT services immediately.
- Joint Accounts. If any of your accounts accessed under
this Agreement are joint accounts, all joint owners, including
any authorized users, shall be bound by this Agreement and,
alone and together, shall be responsible for all EFT transactions
to or from any share and share draft or loan accounts as provided
in this agreement. Each joint owner, without the consent of
any other account owner, may, and hereby is authorized by every
other joint account owner to, make any transaction permitted
under this Agreement. Each joint account owner is authorized
to act for the other account owners, and the Credit Union may
accept orders and instructions regarding any EFT transaction
on any account from any joint account owner.
4. Fees and Charges. There are certain fees and charges
for electronic funds transfer services. From time to time, the
charges may be changed. We will notify you as required by applicable
law.
If you use an ATM not operated by us, you may be charged a
fee by the ATM operator and by any national, regional, or local
network used in processing the transaction (and you may be charged
a fee for a balance inquiry even if you do not complete a fund
transfer). The ATM surcharge will be debited from your account
if you elect to complete the transaction or continue with the
balance inquiry.
- VISA Debit Card Fees.
- $1.00 charge for ATM transactions at machines we do not
own (nonproprietary) after six (6) per month.
- Replacement card fee of $15.00 per card.
- Replacement card rush fee of $50.00 per card.
- Replacement card PIN rush fee of $50.00 per card
- Preauthorized EFT Fees.
- Non-sufficient funds fee of $20.00
- EFT stop payment fee of $5.00
- Bill Payment Fees
- $6.00 service fee per month
5. Member Liability. You are responsible for all EFT transactions
you authorize. If you permit someone else to use an EFT service,
your Card or your access code, you are responsible for any transactions
they authorize or conduct on any of your accounts.
Tell us AT ONCE if you believe your card has been lost or stolen
or if you believe someone has used your Card or access code or otherwise
accessed your accounts without your authority. Telephoning is the
best way of keeping your possible losses down. You could lose all
the money in your account (plus your maximum overdraft line of credit).
If a transaction was made with your Card or Card number without
your permission, and was either a VISA or Interlink transaction,
you will have no liability for the transaction, unless you were
grossly negligent in the handling of your account or card. For
all other EFT transactions, including ATM transactions or if you
were grossly negligent in the handling of your account or card,
your liability for an unauthorized transaction is determined as
follows.
If you tell us within two (2) business days you can lose no more
than $50 if someone used your Card without your permission. If
you do NOT tell us within two (2) business days after you learn
of the loss or theft of your Card, and we can prove we could have
stopped someone from using your Card without your permission if
you had told us, you could lose as much as $500.00
Also, if your statement shows transfers that you did not make,
tell us at once. If you do not tell us within sixty (60) days after
the statement was mailed to you, you may not get back any money
lost after the sixty (60) days if we can prove that we could have
stopped someone from making the transfers if you had told us in
time. If a good reason (such as hospital stay) kept you from telling
us, we will extend the time periods. If you believe your Card has
been lost or stolen or that someone has transferred or may transfer
money from your account without your permission, call:
(808) 935-9778
Fax: (808) 934-7572
or write to:
Big Island Federal Credit Union
66 Lono Street
Hilo, Hawaii 96720
6. Right to Receive Documentation.
- Periodic Statements. Transfers and withdrawals made
through any ATM or POS terminal, Debit Card transactions, audio
response transactions, preauthorized EFTs or electronic/PC transactions
will be recorded on your periodic statement. You will receive
a statement monthly unless there is no transaction in a particular
month. In any case, you will receive a statement at least quarterly.
- Terminal Receipt. You will get a receipt at the time
you make any transaction (except inquires) involving your account
using an ATM, POS terminal, Debit Card transaction with a participating
merchant.
- Direct Deposit. 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 (such
as a pay stub), you can find out whether or not the deposit
has been made by calling (808) 935-9778. This does not apply
to transactions occurring outside the United States.
7. Account Information Disclosure. We will disclose information
to third parties about your account or the transfers you make:
- As necessary to complete transfers;
- To verify the existence of sufficient funds to cover specific
transactions upon request of a third party, such as a credit
bureau or merchant;
- To comply with government agency or court orders; or If you
give us your written permission.
8. Business Days. Our business days are Monday through
Saturday, excluding holidays.
9. Credit Union 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 or our agreement
with you, we may be liable for your losses or damages. However,
we will not be liable for direct or consequential damages in
the following events:
- If, through no fault of ours, there is not enough money in
your accounts to complete the transaction, if any funds in your
accounts necessary to complete the transaction are held as uncollected
funds pursuant to our Funds Availability Policy, or if the transaction
involves a loan request exceeding your credit limit.
- If you used your Card or access code in an incorrect manner.
- If the ATM where you are making the transfer does not have
enough cash.
- If the ATM was not working properly and you knew about the
problem when you started the transaction.
- If circumstances beyond your control (such as fire, flood,
or power failure) prevent the transaction.
- If the money in your account is subject to legal process
or other claim.
- If funds in your account are pledged as collateral or frozen
because of a delinquent loan.
- If the error was caused by a system of any participating
ATM network.
- If the electronic transfer is not completed as a result
of your willful or negligent use of your Card, access code,
or any EFT facility for making such transfers.
- If the telephone or computer equipment you use to conduct
audio response or electronic/PC transactions is not working
properly and you know or should have known about the breakdown
when you started the transaction.
- Any other exceptions as established by the Credit Union.
10. Notices. All notices from us will be effective
when we have mailed them or delivered them to your last known address in the Credit
Union’s records. Notices from you will be effective
when received by the Credit Union at the address specified
in this Agreement. We reserve the right to change the terms
and conditions upon which this service is offered. We will
mail notice to you at least twenty-one (21) days before
the effective date of any change. Use of this service is
subject to existing regulations governing the Credit Union
account and any future changes to those regulations.
The following information is a list of safety precautions regarding
the use of Automated Teller Machines (ATM) and Night Deposit
Facilities.
- Be aware of your surroundings, particularly at night.
- Consider having someone accompany you when the ATM or night
deposit facility is used after dark.
- If another person is uncomfortably close to you at the
time of your transaction, ask the person to step back before
you complete your transaction.
- Refrain from displaying your cash at the ATM or night deposit
facility. As soon as your transaction is completed, place
your money in your purse or wallet. Count the cash later
in the safety of your car or home.
- If you notice anything suspicious at the ATM or night deposit
facility, consider using another ATM or night deposit facility
or coming back later. If you are in the middle of a transaction
and you notice something suspicious, cancel the transaction,
take your Card or deposit envelope, and leave.
- If you are followed after making a transaction, go to the
nearest public area where people are located.
- Do not write your personal identification number or code
on your ATM card.
- Report all crimes to law enforcement officials immediately.
11. Billing Errors. In case of errors or questions about
electronic funds transfers from your share and share draft accounts
or need more information about a transfer on the statement or
receipt,
telephone us at the following number or send us a written notice
to the following address as soon as you can. We must hear from
you no later than sixty (60) days after we sent the FIRST statement
on which the problem appears. Call us at:
(808) 935-9778
or write to:
Big Island Federal Credit Union
66 Lono Street
Hilo, Hawaii 96720
Fax: (808) 934-7572
- Tell us your name and account number.
- Describe the electronic transfer you are unsure about, and explain
as clearly as you can why you believe the Credit Union has made
an error or why you need more information.
- Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint
or question in writing within ten (10) business days.
We will tell you the results of our investigation 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 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 of
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.
* If you give notice of an error within thirty (30) days after
you make the first deposit to your account, we will have twenty
(20) business days instead of ten (10) business days.
** If you give notice of an error within thirty (30) days after
you make the first deposit to your account, notice of an error involving
a point of sale transaction, or notice of an error involving a transaction
initiated outside the U.S. its possessions and territories, we will
have ninety (90) days instead of the forty-five (45) days to investigate.
NOTE: If the error you assert is an unauthorized VISA transaction,
other than a cash disbursement at an ATM, we will credit your account
within five (5) business days unless we determine that the circumstances
or your account history warrant a delay, in which case you will
receive credit within ten (10) business days.
12. Termination of EFT Services. You may terminate this
Agreement or any EFT service under this Agreement at any time by
notifying us in writing and stopping your use of your Card and any
access code. You must return all Cards to the Credit Union. You
also agree to notify any participating merchants that authority
to make bill payment transfers has been revoked. We may also terminate
this Agreement at any time by notifying you orally or in writing.
If we terminate this Agreement, we may notify any participating
merchants making preauthorized debits or credit to any of your accounts
that this Agreement has been terminated and that we will not accept
any further preauthorized transaction instructions. We may also
program our computer not to accept your Card or access code for
any EFT service. Whether you or the Credit Union terminates this
Agreement, the termination shall not affect your obligations under
this Agreement for any EFTs made prior to termination.
13. Governing Law. This Agreement is governed by the Bylaws
of the Credit Union, federal laws and regulations, the laws and
regulations of the state of Hawaii and local clearinghouse rules,
as amended from time to time. Any disputes regarding this Agreement
shall be subject to the jurisdiction of the court of the county
in which the Credit Union is located.
14. Enforcement. You are liable to us for any loss, cost
or expenses 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 a legal
action to collect any amount due under 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.
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