To establish the rights of a person using electronic money
transfers and the obligations of a financial institution offering these services,
Congress has enacted the Electronic Funds Transfer Act. The act deals with the transfer of funds initiated
through an automatic teller machine, direct deposits or withdrawal of funds,
point-of-sale transfers and transfers by telephone. It also includes pre-authorized electronic
funds transfers that recur at regular intervals, such as Social Security payments.
Your rights and the credit union’s obligation are detailed
in the following disclosure, which is published in compliance with federal regulations.
Indicated below are types of Electronic Fund Transfers we are
capable of handling, some of which may not apply to your account. Please read this disclosure carefully because
it tells you your rights and obligations for the transactions listed.
Preauthorized credits. You may make arrangements for certain direct deposits to be accepted
into your checking or savings account(s).
Preauthorized payments. You may make arrangements to pay certain recurring bills from your
checking or savings account(s).
Electronic check or draft conversion – types of transfers -
Your check or draft can result in an electronic
funds transfer. This can happen in several
ways. For example:
·
You can purchase goods or pay for services and authorize a
merchant or service provider to convert your check or draft into an electronic
funds transfer.
·
At the time you offer a check or draft to a merchant or service
provider, you may be asked to authorize the merchant or service provider to
electronically collect a charge in the event the check or draft is returned
for insufficient funds. Paying such
a fee electronically is an electronic funds transfer.
Your authorization to make these types of electronic funds
transfers may be expressed in writing or implied through the posting of a sign.
TAP System Telephone Transfers – types of transfers – You may access
your account by telephone 24 hours a day at (208) 746-3300 or 1-800-628-8277
using your personal identification number, a touch tone phone, and your account
numbers, to:
·
transfer funds from checking to checking
·
transfer funds from checking to savings
·
transfer funds from savings to checking
·
transfer funds from savings to savings
·
make payments from checking to loan accounts with us
·
make payments from savings to loan accounts with us
·
get information about:
-
the account balance of checking account(s)
-
the account balance of savings account(s)
ATM Transfers – types of transfers and dollar limitations –
You may access
your accounts) by ATM using your ATM/debit card and personal identification
number (PIN), to:
·
get cash withdrawals from checking account(s) with an ATM/debit
card
-
you may withdraw no more than $1000.00 per day
·
get cash withdrawals from savings account(s) with an ATM/debit
card
-
you may withdraw no more than $1000.00 per day
·
transfer funds from savings to checking account(s) with an
ATM/debit card
·
get information about:
-
the account balance of your checking account(s)
§
with an ATM/Debit card
-
the account balance of your savings account(s)
§
with an ATM/debit card
Some of these services may not be available at all terminals.
Types of Debit Card Transactions – You may access
your Checking account(s) to purchase goods (in person or by phone), pay for
services (in person or by phone), get cash from a merchant, if the merchant
permits, or from a participating financial institution, and do anything that
can be done with a credit card (that a participating merchant will accept with
a credit card).
Currency Conversion. When you use your Visa-branded card at a merchant that settles in
currency other than US dollars, the charge will be converted into the US dollar
amount. The currency conversion rate
used to determine the transaction amount in US dollars is either a wholesale
market rate or the government mandated rate in effect the day before the processing
date, increased by 1%. The conversion
rate in effect on the processing date may differ from the rate in effect on
the transaction date or posting date.
Advisory Against Illegal Use. You agree not to use your card(s) for illegal
gambling or other illegal purpose. Display
of a payment card logo by, for example, an online merchant does not necessarily
mean that transactions are lawful in all jurisdictions in which the cardholder
may be located.
Home Branch Computer Transfers – types of transfers – You may access
your account(s) by computer at www.p1fcu.org
and using your personal identification number and your account numbers, to:
·
transfer funds from checking to checking
·
transfer funds from checking to savings
·
transfer funds from savings to checking
·
transfer funds from savings to savings
·
make payments from checking to loans accounts with us
·
make payments from checking to third parties with Bill Pay
-
see separate fee schedule for applicable fees with Bill Pay
·
make payments from savings to loan accounts with us
·
make payments from savings to third parties with Bill Pay
-
see separate fee schedule for applicable fees with Bill Pay
·
get information about:
-
the account balance of checking accounts
-
the last 90 days or 300 transactions deposits to checking accounts
-
the last 90 days or 300 transactions withdrawals from checking
accounts
-
the account balance of savings accounts
-
the last 90 days or 300 transactions deposits to savings accounts
-
the last 90 days or 300 transactions withdrawals from savings
accounts
·
We do not charge for direct deposits to any type of account.
·
We do not charge for preauthorized payments from any type of
account.
Except as indicated elsewhere, we
do not charge for these electronic fund transfers.
ATM Operator/Network Fees. When you use an ATM not owned by us, you may
be charged a fee by the ATM operator or any network used (and you may be charged
a fee for a balance inquiry even if you do not complete a fund transfer).
·
Terminal transfers. You can get a receipt at the time you make any transfer to or from
your account using one of our automated teller machines or point-of-sale terminals
·
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.
·
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,
you can call us t (208) 746-8900 or 1-800-843-7128 to find out whether or not
the deposit has been made.
·
Periodic statements.
You will get a monthly account statement
from us for your checking accounts.
You will get a monthly account statement
from us for your savings accounts, unless there are no transfers in a particular
month. In any case, you will get a statement
at least quarterly.
·
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 is how:
Call us at (208) 746-8900 or 1-800-843-7128 or write
us at P.O. Box 497, Lewiston, ID 83501 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 writhing and get it to us within 14 days after you call.
We will charge you $15.00 for each stop-payment order
you give.
·
Notice of varying amounts. 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.)
·
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.
FINANCIAL INSTITUTION’S LIABILITY
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 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:
(1)
If, through no fault of ours, you do not have enough
money in your account to make the transfer.
(2)
If you have an overdraft line and the transfer would
go over the credit limit.
(3)
If the automated teller machine where you are making
the transfer does not have enough cash.
(4)
If the terminal or system was not working properly and
you know about the breakdown when you started the transfer.
(5)
If circumstances beyond our control (such as fire or
flood) prevent the transfer, despite reasonable precautions that we have taken.
(6)
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:
(1)
where it
is necessary for completing transfers; or
(2)
in order
to verify the existence and condition of your account for a third party, such
as a credit bureau or merchant; or
(3)
in order
to comply with government agency or court orders; or
(4)
as explained
in the separate Privacy Disclosure.
UNAUTHORIZED
TRANSFERS
(a) Consumer liability.
·
Generally. 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 losses down. You
could lose all the money in your account (plus your maximum overdraft line of
credit). If you tell us within 2 business
days, you can lose no more than $50 if someone used your card and/or code without
your permission. (If you believe your
card and/or code has been lost or stolen, and you tell us within 2 business
days after you learn of the loss or theft, 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 2 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.
Also, 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 hospital stay) kept you from telling us, we will
extend the time periods.
·
Additional Limit on Liability for Visa-branded card. Unless you have been grossly negligent or have
engaged in fraud, you will not be liable for any unauthorized transactions using
your lost or stolen Visa-branded card. This
additional limit on liability does not apply to ATM transactions, to transactions
using your Personal Identification Number which are not processed by BISA, or
to commercial cards
(b) Contact
in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or
that someone has transferred or may transfer money from your account without
your permission, call or write us at the telephone number or address listed
in this brochure.
ERROR RESOLUTION NOTICE
In case of
errors or questions about your electronic transfers, call us at (208) 746-8900 or 1-800-843-7128 or write us
at P.O. Box 497, Lewiston, ID 83501 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 the FIRST statement on which
the problem or error appeared.
(1)
Tell us your
name and account number (if any).
(2)
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.
(3)
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 10 business days.
We will determine whether an error occurred within 10
business days (5
business days for Visa-branded
card point-of-sale transactions and 20 business days if the transfer involved
a new account) after we hear from you and will correct any error promptly.
If we need more time, however, we may take up to 45 days (90 days if
the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated
transfer) to investigate your complaint or question.
If we decide to do this, we will credit your account within 10 business
days (5 business days for Visa-branded card point-of-sale transactions and 20
business days if the transfer involved a new account) 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 10 business days, we may not credit your account. Your account is considered a new account for
the first 30 days after the first deposit is made, unless each of you already
has an established account with us before this account is opened.
We will tell you the results within three 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.