Electronic Funds Transfer
YOUR RIGHTS AND RESPONSIBILITIES
The Electronic Funds Transfers(EFT) Cedar Point Federal Credit Union is capable
of handling are as follows, some of which may not apply to your account. Please
ensure you read and understand your rights and obligations for these
transactions as explained in this disclosure. Retain this copy for future
reference.
Direct Deposit - You may authorize for certain direct deposits to be accepted
into your share savings or share draft account(s).
Preauthorized Withdrawals - You may authorize to pay certain items or recurring
items from your share savings or share draft account(s).
Teller24 and Personal Credit Union (PCU) - You may access your account
information 24 hours a day by touch tone phone via Teller24 at (301)863-0057 or
(800) 444-6119, or on the internet via PCU. Both services require your account
number and your personal identification number(PIN), to:
• transfer funds within the same share
account number or to related accounts with a signed authorization.
- there may be limitations on these transfers. See the
Rate and Fee Schedule for more information about these limitations
• withdraw funds from an account(s) to be mailed to the address currently on
file at the credit union.
• make loan payments within the same share account number or to related
accounts with a signed authorization.
• make a stop payment on a check or a range of checks.
- a fee may be charged for this service. See the Rate
and Fee Schedule for more information.
• check the status of a loan application • obtain the following information:
- the balance on your account(s)
- share draft(s) cleared on an account(s)
- tax information on an account(s)
- year to date dividend paid on your account(s)
- loan balance on your account(s)
- loan summary information on your account(s)
• change your PIN In addition to these services
PCU allows you to
• view six months history of
transactions on your account(s)
• view six months loan payment history on your account(s)
• apply for a loan online • view your monthly statements or choose to
receive your monthly statement electronically and not by mail.
• view and print drafts cleared on your account - see website for
limitations
• reset your password online
• access PCUPay - initiate payments from your share draft account to
designated merchants
- for information on merchant limitation refer to the
PCUPay bill paying agreement
- see Rate and Fee Schedule for overdraft information
and limitations
Teller24 allows you to
• obtain the last five transactions on your account(s)
VISA Debit Card - You must sign and activate the card to use it. Follow
the instructions that come with the card for activation. Once you have signed
and activated the card, you may access your account to:
• Purchase goods and services any place VISA Debit Cards are accepted. Funds to
cover your Visa Debit Card transactions will be deducted from your share draft
account.
- The Visa Debit Card may only be used for legal purposes.
- If there are not sufficient funds in your share draft account to pay for the
transaction amount, and there is not an overdraft protection plan that transfers
the necessary funds from a loan account or another account, we may not pay the
amount and may terminate all services under this agreement.
- Every Visa Debit Card is linked to a sophisticated computer-based security
network. As a deterrent to credit card/debit card fraud we will be participating
in the Falcon Fraud Protection program.
- To make an online purchase you may be required to provide a password for
authentication. Passwords are created by you when signing up for Verified by
Visa at
www.visa.com/verified.
ATM/Debit Card Transfers, Types of Transfers And Dollar Limitations: You may
access your account(s) through an automated teller machine with our ATM card or
debit card and PIN, to:
• Make deposits to a share savings and/or share draft account(s)
- Deposits may be made up to a limit of $2500.00
- Deposits made
before 3:00 pm will be available in two business days. Deposts made after 3:00
pm will be available in three business days.
- Longer delays may apply. Please
reference the funds availability disclosure for funds availability
• Obtain cash
withdrawals from share savings and/or share draft account(s)
- Withdrawals may
be limited to no more than $200.00 for regular ATM card and $500.00 for debit
card within a 24- hour period, assuming funds in your account(s) are available.
- Transfer funds within the same share account number
• To obtain the account
balance on your account(s)
Some of the above listed services may not be
available at all terminals.
ATM/Point of Sale (POS) Transactions: You may access
your share draft account(s) to purchase merchandise (in person), pay for
services (in person) and obtain cash from a merchant, if allowable by the
merchant or from a participating financial institution. You may not exceed
$300.00 in POS transactions within a 24- hour period.
Visa Debit Card Daily
Transactions: With your Visa Debit Card you may generally make purchases of up
to $2000.00 in goods or services within a 24 hour period from one or a
combination of designated accounts provided that funds are available. You may
access your share draft account(s) to obtain cash from a merchant (in person),
if allowable by the merchant or from a participating financial institution. You
may not exceed $500.00 in these transactions within a 24 hour period.
These
limitations are imposed as a safeguard to minimize losses, but we are not
obligated to maintain or enforce these limits.
Foreign Transactions: Purchases
and cash advances made in currencies other than U.S. dollars will be converted
to and billed to you in U.S. dollars under the regulations established by VISA
International. We do not determine the currency conversion rate which is used,
nor do we receive any portions of the currency conversion rate. The conversion
rate to U.S. dollars will be (I) A rate selected by Visa from the 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 (II) the
government-mandated rate in effect for the applicable central processing date,
in each instance, plus or minus any adjustment determined by the Issuer.
Conversion to U.S. dollars may occur on a date other than the transaction date;
therefore, the currency conversion rate may be different than the rate in effect
at the time of the transaction. You agree to pay the converted amount. A fee of
1% will be imposed on all foreign transactions, including purchases, cash
withdrawals, cash advances and credits to your account. A foreign transaction is
any transaction that you complete or a merchant completes on your card outside
of the U.S., Puerto Rico or the U.S. Virgin Islands.
NOTICE REGARDING ATM FEES
BY OTHERS: If you use your VISA Debit Card or ATM Card at an automated teller
machine that is not operated by us, you may be charged a fee by the operator of
the machine and/or by the automated transfer network. Termination of ATM/Debit
Card Services You may terminate your ATM or VISA Debit Card agreement at any
time by notifying us in writing and stopping your use of your card and any
access code. All cards must be returned to the Credit Union. We may also
terminate this agreement at any time by notifying you in writing. We may also
program our computer not to accept your card or access code for ATM or Visa
Debit Card services. Regardless of who terminates the Agreement, the termination
shall not affect your obligations under this Agreement for any electronic
transactions made prior to termination.
RIGHT TO DOCUMENTATION OF ELECTRONIC
FUNDS TRANSFERS Terminal Transfers - Y
You can get a receipt at the time you make any transfers to or from your account
using one of our automated teller machines or point of sale terminals. You may
also receive a receipt from a retail merchant when making a purchase in person
provided the transaction exceeds $15.00.
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. Periodic Statements - You will get a monthly account
statement from us regarding your accounts.
STOP PAYMENT PROCEDURES AND NOTICE OF
VARYING AMOUNTS Right To Stop Payment And Procedure For Doing So - If you have
told us in advance to make regular payments out of your account, you can stop
any of these payments. Here’s how: Contact us at the telephone number or address
listed in this disclosure, in time for us to receive your request three 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 you call. We will charge you $10.00 for each stop payment order you give.
Refer to STOP PAYMENTS in the TERMS AND CONDITIONS of this account agreement.
Notice Of Varying Amounts - If these regular payments 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.)
Liability for Failure To Stop Payment of Preauthorized Transfer - If you order
us to stop one of these payments three business days or more before the transfer
is scheduled, and we do not do so, we will be liable for your losses or damages.
OUR LIABILITY If we do not complete a transaction to or from your account on
time or in the correct amount according to our agreement with you, we will be
liable for losses or damages. However, there are some exceptions. We will not be
liable, for instance: • If, through no fault of ours, you do not have enough
money in your account to make the transfer. • If the transfer would go over the
credit limit on your overdraft line. • If the automated teller machine where you
are making the transfer does not have enough cash. • If you used your card or
access code in an incorrect manner. • If the terminal or system was not working
properly and you knew about the breakdown when you started the transaction. • If
circumstances beyond our control (such as fire or flood) prevent the
transaction, despite reasonable precautions that we have taken. • If funds in
your account are pledged or frozen because of a delinquent loan. • If the
electronics transfer is incomplete as a result of your willful or negligent use
of your Card, access code, or any EFT facility for making such transfers. •
There may be other exceptions stated in our agreement with you.
CONFIDENTIALITY
We will disclose information to third parties about your account or the
transfers you make: • When it is necessary for completing transfers, or • In
order to verify the existence and condition of your account for a third party,
such as a credit bureau or merchant, or • In order to comply with government
agency or court orders, or • If you give us your written permission.
CONSUMER
LIABILITY Tell us AT ONCE if you believe your card and/or code has been lost or
stolen. Telephoning is the best way of keeping your possible loss down. You
could lose all the money in your account (plus your maximum overdraft line of
credit). If you tell us within two business days, you can lose no more than $50
if someone used your card and/or code without your permission. If you do NOT
tell us within two business days after you learn of the loss or theft of your
card and/or code, and we can prove we could have stopped someone from using your
card and/or code without your permission if you had told us, you could lose as
much as $500. Special rules for Visa Debit Card: Your liability for unauthorized
purchases is $0 except in cases of gross negligence. 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 may extend the time periods.If you believe your card and/or code has been stolen or that someone has
transferred or may transfer money from your account without your permission,
call or write to us at the telephone number or address listed in this
disclosure. For purposes of these disclosures, our business days are Monday
through Friday. Holidays are not included.
PERSONAL IDENTIFICATION NUMBER ( PIN)
You are responsible for any and all PIN’s related to your account. When
selecting your PIN, you should not use any part of the following numbers: •
Social security number, • Birthdate, anniversary date, etc., • Street address, •
Driver’s license number, or • Any other identifying card numbers Do not write
your PIN on your card to record it. You should know your PIN by memory. Never
make your PIN known to anyone. We may not be held responsible for your PIN. The
above guidelines are added protection for you in the event of a lost or stolen
card.
ERROR RESOLUTION
In case of errors or questions about
your electronic transfers, call or write to us at the telephone number or
address listed in this disclosure immediately. Your account will be considered a
new account if it has been open less than 30 calendar days. 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.
• Tell us your name and
account number (if any).
• 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.
• If you tell us verbally, we may require that you
send us your complaint or question in writing within 10 business days.
We will
tell you the results of our investigation within 10 business days (20 business
days for new accounts) 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 (90 days for new accounts). If we decide
to do this, we will credit your account within 10 business days (20 business
days for new accounts, 5 business days for Visa Debit Card transactions), for
the amount you think is in error, so that you will have the use of the funds
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, a credit may not be issued to your account.
If we decide that
there was an error, we will send you a written explanation within three days
after we finish our investigation. You may ask for copies of the documents that
we used in our investigation.
CEDAR POINT FEDERAL CREDIT UNION
CARD SERVICES DEPARTMENT
22745 Maple Road Lexington Park, MD 20653
Phone: (301) 863-7071
cpfcu@cpfcu.com
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This page was updated:
August 31, 2007 10:32