Disclosure
of terms and conditions
for Electronic Funds Transfer
The purpose of this disclosure is to inform
you of certain rights that you have under the Electronic Funds Transfer
Act.
1. Definition and Identification
of Terminals available to Cardholders
For purposes of this disclosure of terms
and conditions, a "terminal" includes automated teller machines
(ATMs), point of banking (FOB) terminals, and point of sale (POS) terminals
(special store terminals at which payments for purchases may be made.)
POB & POS terminals are used with the assistance of a retail store
clerk or other operator. An ATM terminal can be used without the assistance
of another person.
2. Transfer of Available Funds
You may use your debit card with your personal
identification number (PIN) to conduct any of the following
transactions:
a) withdraw cash from your share draft
account
b) although we do not encourage it, you may be able to deposit cash,
checks or drafts to your share draft account at participating ATMs
c) transfer funds between savings and share draft accounts
d) line of credit (t-OC) advance
Some of these services may not be available
at all terminals.
3. Other Network Transaction Access
From time to time, we may make arrangements
with other networks to grant card access. We shall inform you when such
arrangements are made, describe the services that are available to you,
and discuss the charges that may be incurred at that time. Network participation
is identified on the back of the card.
4. Limitations of Dollar Amount
You may withdraw up to $500 per business
day from any ATM, POB or POS terminal, provided the funds are available
from your account. You wilf be denied the use of your card if you exceed
the daily withdrawal limit, do not have adequate funds available in your
account, or you do not enter the correct personal identification number.
The receipt provided by the terminal will notify you of the denial. There
is a limit on the number of such denials permitted. Attempts to exceed
the limit will result in machine retention of your card. The number of
attempts that result in machine retention is not revealed for security
reasons.
5. Notification of event of loss
or unauthorized transfer
If you believe your card or personal identification
number has been lost or stolen, or that an unauthorized transfer from
any of your accounts has occurred or may occur, please contact the credit
union immediately by calling (315) 593-3131 or writing to: NestEgg Federal
Credit Union 726 W. Broadway, Fulton, NY 13069. A new card may be issued
to you at that time and a "hold" will be placed on your old
card. After such time, if you find your old card, you must notify us and
return your old card. If you attempt to use your old card, it will be
captured and retained by the terminal.
6. Deposit and Payment Information
(This information is only applicable for
full function depository ATM units only) Deposits and payments made at
the terminal are posted to your account(s) according to the rules and
regulations (Regulation CC) of those account(s). A two-day "hold"
will be placed on deposited funds.
7. Your rights to receive documentation
of transactions
You will receive a printed receipt for each
transaction that you make at the time of the transaction. You will receive
a monthly statement showing the status of your account(s), transactions
made during the past month, and any charges that we may impose for such
services and transactions.
8. Liability for unauthorized transfers
Contact us IMMEDIATELY if you believe your
card or personalidentification number has been lost or stolen. Telephoning
us at the credit union's phone number is the best way of keeping your
losses to a minimum. If you take no action to notify us of the loss, your
liability will be as follows:
a) If you contact us within two (2) business
days of the loss or your discovery of the loss, you can lose no more
than $50, if someone used your card and personal identification number
without your permission.
b) If someone used your card and personal identification number without
your permission, you could lose as much as $500 if you do NOT contact
us within two (2) business days after you learn of the loss, and we
can prove that we could have prevented the loss had you contacted us.
9. Business Days
Our business days are 9:00 a.m. to 4:30
p.m. weekdays. Saturday, Sunday, and holidays are not included.
10. In case of errors or questions
about your transactions
Telephone us at (315) 593-3131 or write
us at:
NestEgg Federal Credit Union
726 W. Broadway
Fulton, NY 13069
as soon as you can, if you think your statement
or receipt is wrong, or if you need more information about a transaction
listed on the statement or receipt. We must hear from you no later than
sixty (60) days after we sent you the FIRST statement on which the problem
or error appeared. You must provide us with the following:
a) your name, account number, and card
number
b) description of the error you are unsure about, and explain as clearly
as you can why you believe it is an error or why you need more information
c) the dollar amount of the suspected error
If you tell us orally, we require that you
send us your complaint of question in writing within ten (10) business
days. W? 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 recredit your account within ten (10) business days for the amount
you think is in error, so that you can have the use of the money during
the time it takes us to complete our investigation. If we do not receive
your complaint or question in writing within ten (10) business days, we
may not recredit your account. If we find that there is no error, we will
send you a written explanation within three (3) business days after we
finish our investigation. You may ask for copies of the documents that
we used in our investigation. If we credit your account with funds while
investigating an error, you must repay those funds to us if we conclude
that no error has occurred.
11. Disclosure of account information
to third parties
We will disclose information about your
account of the transactions you make to third parties only under the following
circumstances:
a) where it is necessary to complete
the transaction
b) to verify the existence and standing of your account with us upon
the request of a third party such as a credit bureau
c) to comply with government agencies or court orders
d) in accordance with your written permission
e) in order to comply with government or an administrative agency summonses,
subpoenas, orders, or court orders
f) upon receipt or certification from a federal agency or department
that a request for information is in compliance with the Right to Financial
Privacy Act of 1978
12. Our liability for failure to
complete an electronic funds transfer transaction
If we fail to complete a transaction to
or from your account on time or in the correct amount, according to your
agreement with you, we will be liable for damages caused by our failure
unless:
a) there are insufficient funds in your
account to complete the transaction through no fault of outs
b) the funds In your account are uncollected
c) the funds In your account are subject to legal process
d) the transaction you request would exceed the funds in your account
plus any available overdraft credit
e) the terminal has insufficient cash to complete the transaction
f) your card has been reported lost or stolen and you are using the
reported card
g) we have a reason to believe that the transaction request is unauthorized
h) the failure is due to an equipment breakdown that you knew about
when you started the transaction at the terminal
i) circumstances beyond our control (such as fire or flood) prevent
the transfer, despite reasonable precautions that we have taken
j) you attempt to complete a transaction at a terminal which is not
a permissible transaction listed above
k) the transaction would exceed security limitations on the use of your
card We shall only be liable for actual proven damage if the failure
to make the transaction resulted from a bona fide error despite our
procedures to avoid such errors.
13. Other terms and conditions
a) Use and care of your card
If you use the card at a merchant location, the merchant acts for you
(as your agent) in completing the transaction. You may not stop payment
of any transaction made with the card. Use of this card is also subject
to the rules of the government agencies that regulate credit unions.
You will take proper care of your card, ensuring that your PIN is not
given to any other person or written on the card. If it is lost or stolen
you will notify the credit union immediately.
b) Overdrawing your account
You agree that you will not use the card to overdraw your account. If
an overdraft in your account does occur, you will pay the full amount
of the overdraft to the credit union immediately upon request including
the current fee for overdrafts. This paragraph does not apply to overdraft
protection on share draft accounts and overdraft protection line of
credits.
c) Legal fees
If we initiate any legal action to collect money owed to us under this
agreement, including any counterclaim, you agree to pay all our costs
for such action including any reasonable attorney's fees. The provision
does not apply to any action in connection with any line of credit account.
In such cases, the line of credit agreement will govern these costs.
14. Amendments and cancellations
The credit union has the right to amend/change
or cancel services offered from time to time. We will notify you at least
twenty-one (21) days before a change will take effect if it will cause
you greater costs or liability, or if it will limit your ability to engage
in electronic payments or deposits. We do not have to notify you in advance,
however, if the change is necessary for security reasons. If the credit
union does cancel you card, it will be your obligation to promptly return
all outstanding cards.
*"ln exchange for being issued
a credit union debit card I (we) agree to be legally bound by the following
terms and conditions:
I. Accounts
I have the transaction (share draft) account(s) with you set forth on
my application form included with this agreement. I hereby request that
you issue to me one or more card(s) to be used at participating merchants
and Automated Teller Machines (ATMs) to:
1) purchase goods or services
2) withdraw cash
3) make or arrange for deposits
4) transfer funds
5) make advances
Or to obtain the other services now offered
or which may be added in connection with any such account(s). I agree
that each Merchant, ATM, POB, POS transaction shall be subject to the
terms of this agreement and the rules and regulations of the account(s)
with you to which the transaction is charged or credited.
II. ATM and Personal Identification
Number (PIN)
I understand that an ATM is an automated teller. It can and will perform
many of the same tasks as a human teller. I acknowledge that the PIN
which is assigned to me, when used with my card, is my signature, identifies
the bearer of the card to the ATM, and authenticates and validates the
directions given just as my actual signature and other proof identify
me and authenticate and validate my directions to a human teller. I
acknowledge that my PIN is an identification code that is personal and
confidential and that the use of the PIN with the card is a security
method by which you are helping me to maintain the security of my account(s).
Therefore, I agree to take all reasonable precautions so that no one
else learns my PIN. I also understand that reasonable precautions include,
but are not limited to, the following:
a) not telling or disclosing my PIN
to any other person
b) not writing my PIN on the card(s) issued to me
c) not keeping a written record of my PIN near my card(s).This means
I agree not to keep my PIN in the same wallet, cardholder envelope
or place where I keep my card(s).
III. Liability for Unauthorized
Transactions
I agree to contact you at once if I believe my card(s) or PIN has been
lost or stolen or money is missing from my account(s). I also agree
that if my monthly statement shows transactions that I did not make;
and I do not contact you within sixty (60) days after the statement
was mailed to me, I may not get any money lost after that time. I agree
that if I give my card a PIN to someone else to use, I am responsible
for any use to the card by them.
IV. How to contact the credit
union
I should contact the credit union immediately if an unauthorized transfer
from my account has occurred, or if I believe my card has been lost
or stolen by phoning NestEgg Federal Credit Union at (315)593-3131.
V. Charges
I agree to pay the charges or transaction fees that are charged for
this service from time to time. I agree to pay $5 per replacement card
and $5 for the reorder of a lost PIN.
VI. Deposits
I agree that when I deposit a check, share draft, or other non-cash
item, you have the right to collect those funds before you make the
funds available to me. If I deliver cash, checks, or other items to
an ATM operated by another financial institution for transmission to
you for deposit to my account, I agree that my account does not have
to be credited with that deposit until such time as the deposit is actually
received by you and the funds are collected.
VII. Liability
If a card is issued for a joint account, we agree to be jointly and
severally liable under the terms of this agreement. I agree that if
I make deposits to my account(s) with items other tan cash, and you
make funds available to me from such deposits prior to their collection,
I agree to pay to you any amount of such funds that are not collected.
VIII. Ownership
I agree that the card Is your property and will be surrendered upon
your request.
IX. Disclosures
I hereby acknowledge receipt of the disclosure statement informing me
of my rights under the Electronic Fund Transfer Act and a copy of this
agreement.
X. Purchase Transaction
I further understand I may use the card to purchase goods and services
at any retail establishment where the card is accepted. If I use the
card to make purchases, I shall be requesting you to withdraw funds
in the amount of such purchase from my share draft account and directing
or ordering you to pay such funds to the merchant.
Member shares are insured to $100,000
per account by the National Credit Union Administration, a U.S. Government
Agency.
*** A fee may be imposed by an ATM
operator not holding the consumer's (your) account, or by any national,
regional, or local network used to complete the transaction. NestEgg Federal
Credit Union is not responsible for these fees.
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