1. Account Access. You may:
(a) Have direct deposits made to your account at least once every 60 days from the same person or entity;
(b) Have preauthorized payments made from your account;
(c) Withdraw cash from your statement account;
(d) Make deposits to your statement account at ATMs that we own or operate. (ATMs that we own will be identified as such;
(e) Transfer funds from your statement account(s) to another account in this institution;
(f) Pay for purchases at places that have agreed to accept this card untilizing its point-of-sale transfer feature;
(g) Pay for purchases at places that have agreed to accept ths card using its debit card feature;
(h) Authorize the transfer of funds by telephone from your statement account(s);
(i) Authorize the transfer of funds from your statement account(s) for the purpose of paying your bills through your home computer;
(j) Authorize third parties to electronically debit your account at point of purchase locations or otherwise utilizing information about your account which you provide to such third parties and which transfer we elect to honor.
(k) Pay for fees for electronic representament of dishonored check where you have agreed that such fees may be debited to your account electronically.
Some of these services may not be available at all terminals, or available in conjuction with all accounts. You may have chosen to limit access by electronic means to one or more of your acconts.
2. Electronic Check Conversion.
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:
(i) Pay for purchases, or (II) Pay bills. This is called an electronic check conversion and is a process in which your check is used as a source of information, for the check number, your account number, and the number that identifies youir financial institution. The information is then used to make a one-time electronic payment from your account, an electronic fund transfer. The check itself is not the method of payment. It is important to remember that with this type of transaction, the transfer of funds may be immediate.
3. Limitations on Frequency of Transfers. You may have chosen to limit access by electronic means to one or more of your accounts.
(a) You may make unlimeted cash withdrawals from our terminals each day.
(b) You can use your telephone bill payment service to pay unlimited bills each day.
(c) You can use our point-of-sale transfer service for unlimited transactions each day;
(d) You can use the debit card feature for unlimited transactions each day;
(e) You can use your home computer bill paying service for unlimited transactions each day;
(f) For security purposes, there are limits on the number of transfers you can make using our terminals. There may be other limits that apply to your card if you use your card outside of the United States of America.
4. Limitations on Dollar Amounts of Transfers.
(a) You may withdraw up to $500.00 from our terminals each day. If we issue you two cards with separate PINs, you can withdraw up to $500.00 utilizing either card for a daily maximum of $500.00 in the aggregate utilizing your available balance.
(b) You may buy up to $500.00 worth of goods or services each day using the point-of-sale transfer feature of your card. If we issue you two cards with separate PINs, you can purchase up to $500.00 using either card for an aggregate of $500.00 per day utilizing your available balance.
(c) You may buy up to $1000.00 worth of goods or services each day using the debit card feature of your card. If we issue you two cards with separate PINs, you can purchase up to $1000.00 using each card for an aggregate of $1000.00 per day utilizing your available balance.
(d) The limitations shown above in paragraph A and B are further limited to $500.00 per day in aggregate.
(e) At any time you may limit the amount to be withdrawn to $500.00 per day upon written notice to this institution.
(e) For security reasons, there are other limits on the transfers you can make using our terminals, authorized telephone transfers service, or other electronic transfer system. There may be other limits that apply to your card if you use your card outside of the United States of America.
5. Limitations on Preauthorized Transfers. If your account is a statement savings deposit account or a money market statement account, you may not make more than 6 transfers per month to another account with us or to a third party by means of preauthorized or automatic transfer, order or instructions, or by check, draft, debit card, or similar order made by you and payable to third parties.
6. Fees. Refer to our regularly published schedule of service charges for the applicable fees which you may be charges.
(a) Per Transfer Charge. We may charge you for each transfer you make using our electronic fund transfer services as per our most recently published schedule of service charges.
(b) Account Maintenance. We may charge you a fee each month to maintain your account(s) with us, if you fail to maintain the required monthly balance amount as per our most recently published schedule of service charges.
(c) Interest. We pay interest on accounts accessed by these services as per our regularly published schedule of interest rates.
(d) Fees Imposed by Others. When you use an ATM not owned or operated by us, you may be charged a fee by the ATM operator or any network used to complete the transfer and you may be charged a fee for a balance inquiry.
7. Confidentiality. We will disclose information to third parties about your account or the transfers you make:
(a) Where it is necessary for completing transfers, or
(b) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
(c) In order to comply with a government agency or court order, or
(d) Where it is necessary for legal, collection, accounting or auditing purposes, or
(e) If you give us your written permission (authorization shall automatically expire after 45 days)
8. Documentation.
(a) Preauthorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money. You can call us during our business hours at 781-599-0096 to find out whether or not the deposit has been made.
(b) Periodic Statements. You will get a monthly account statement, unless there are no transfers in a particular month. In any case you will get the statement at least quarterly.
(c) Passbook Account where the only Possible Electronic Fund Transfers are Preauthorized Credits. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time your brought in your passbook.
(d) Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using an electronic terminal such as an automated teller machine, cash-dispensing machine or point of sale terminal. Vendors are not required to provide a receipt if the transaction is less than $15.00.
(e) Documentation as Evidence. Any documentation provided to you which indicates that an electronic fund transfer was made shall be admissible as evidence of such transfer and shall constitute prima-facie proof that such transfer was made.
9. Preauthorized Payments.
(a) Right to Stop Payment and Procedure for Doing So. If you have told us in advance to make regular payments our of your account you can stop any of these payments. Here's how: Call us at the 781-599-0096 or write to us at River Works Credit Union, 947 Western Avenue, Lynn, Ma 01905 in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after your call.
(b) Notice of Varying Amount. If these regular payments may vary in amount, the person you are going to pay will tell you 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.
(c) Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
10. Financial Institution's Liability. 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:
(a) If, through no fault or ours, you do not have enough money in your account to make the transfer.
(b) If the transfer would go over the credit limit on your overdraft line.
(c) If the terminal or system was not properly working and you knew about the breakdwon when you started the transfer.
(d) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
(e) If the automated teller machine where you are making the transfer does not have enough cash.
(f) If the funds are subject to legal process or other encumbrance restricting such transfer.
(g) There may be other exceptions stated in our agreement with you.
The initiation by you of certain electronic fund transfers from your account will, except as otherwise provided in this agreement, effectively eliminate your ability to stop payment of the transfer.
UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT, YOU (THE CONSUMER) 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.
Termination of this Agreement. You may terminate your right to use your card or code by calling us at our telephone number during our business hours or writing to us at the address shown on the front of this disclosure. If you call, we may require you to put your request in writing and get it to us within ten (10) days after you call.
In Case of Errors or Questions About Your Electronic Transfers. Telephone us at 781-599-0096 during our business hours or write to us at River Works Credit Union, 947 Western Avenue, Lynn, Ma 01905 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 you the FIRST statement on which teh problem or error occurred.
1. Tell us your name and account number (if any).
2. Describe the error or transfer you are unsure about, adn 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 hte suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 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 45 days to investigate your complaint or question. If we decide to do this, we will recredit your account within 10 business days for the amount you think is an 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 10 business days, we may not recredit your account.
We will tell you the results within 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.
EFT Agreement
