|Virtual Branch Agreement and Disclosure|
Introduction This Agreement and Disclosure describes the types of Fund Transfers available with FAST Credit Union’s Virtual Branch and provides information about your rights and responsibilities concerning those transactions. This Agreement applies only to transactions initiated using Virtual Branch.
In this Agreement, “you” and “your” refer to the member and joint owner or authorized user of the member’s account(s). “We,” “us,” “Credit Union” and “FAST Credit Union’ refer to FAST Credit Union. The “Service” refers to Virtual Branch.By applying for or using Virtual Branch, you consent to the terms of this Agreement and Disclosure. A printed copy of this disclosure may be obtained from our web site at http://www.fastcu.com/, or, if you would like us to mail a printed copy you may notify us at (559) 584-0922.
Account Access Once your application is approved for Virtual Branch, you may use your personal computer to access your accounts. You must use your access code along with your account number to access your accounts. Transactions involving your deposit accounts will be subject to the terms of your account agreement and transactions involving a loan account will be subject to your loan agreement and disclosures, as applicable.
Business Days/Hours of Operation FAST Credit Union business days are every day except Saturday, Sunday and federal holidays. All references to time of day in this Agreement refer to Pacific Standard Time. Virtual Branch is generally available 24 hours a day, 7 days a week. The system may be temporarily unavailable for brief periods of maintenance or in emergency situations.
Your Personal Identification Number/Password (last 4 digits of their phone number): Keep It Secret. When you initiate Virtual Branch, you will be assigned a confidential PIN/Password (PIN). This PIN may be customized after the first time it is used to log into your account. When you customize your PIN, choose a PIN that you can remember easily, but not a PIN that can be easily guessed by others, such as your birthday or your phone number. Do not write your PIN near your computer or in other locations where it can be easily found and identified by others. You agree not to disclose or otherwise make your PIN available to anyone not authorized to sign on your accounts.
Service Equipment and Technical Requirements To use Virtual Branch you must have a FAST Credit Union membership account. To access the Service, you must have a personal computer with Internet access. The minimum system requirements are:
Available Transactions You can use Virtual Branch to:
Transaction Limitations Limit on Amount of Transfers. - There is a dollar limit of $9,999.99 (or the available balance, whichever is less) on the System.
Limit on Number of Transfers. - There is no limit on the number of transfers out of your share accounts. You may make an unlimited number of transfers out of checking accounts by any authorized means, provided you have available funds. There is no limit on the number of deposits into your share accounts.
Time Limit on Transfers to Pay FAST Credit Union Loans. You can use Virtual Branch to make payments on loans you have with FAST Credit Union. If the payment due date falls on a weekend or holiday, you must complete the transfer on the business day before the due date. Paying more than the minimum amount does not extend your next payment due date.
Documentation Confirmation Number. Upon completion of a transaction using Virtual Branch a confirmation number will be given. No printer receipts are issued through the Service.
Periodic Statements. Information about Virtual Branch transactions will be shown on your normal statement for the account to and from which transfers or payments are made. You will get a statement monthly, if you have a checking account or in any month in which you have electronic funds transfer activity.Notices. Notices will be sent to the primary account owner at the last address shown in our records. On joint accounts, notice to the primary owner will be deemed notice to all account owners.
Privacy FAST Credit Union will share information about your accounts only:
Security Procedures Information about our security procedures for Virtual Branch is provided when you access the system. If you believe that the security procedures are insufficient, you can decline to activate or deactivate Virtual Branch.
Fees There are no monthly service fees for Virtual Branch.
E-mail Capabilities and Limitations Virtual Branch includes E-mail capabilities allowing you to send and receive electronic mail messages to and from the Credit Union. The Credit Union will not immediately receive and review E-mail messages that you send and will NOT process any request for a funds transfer received via E-mail. Further, the Credit Union may not act upon requests where the Credit Union would normally require written notification or your authorizing signature without first confirming the authenticity of the E-mail request/notification via telephone. These may include the following:
In some instances, written confirmation reflecting your authorizing signature may still be required. The Credit Union will not take action based on other E-mail requests until the Credit Union actually receives your message and has a reasonable opportunity to act.
Your Liability for Unauthorized Transactions Tell us immediately if you believe an unauthorized person has obtained access to your PIN/Password (PIN) or someone may transfer money out of your accounts without your permission. Immediately call (559) 584-0922 or (800) 635-4197 during business hours or fax us any time at (559) 583-6948. You can also write to us at FAST Credit Union, Virtual Branch, 312 W. 7th Street, Hanford, CA 93230. Telephoning is the best way to keep losses down. If you don't notify us within the time limits in this paragraph, you could lose all of the money in your accounts plus money in your overdraft protection.
If you tell us of the loss, theft or other potential unauthorized use of your PIN within two business days after you learn of it, your loss will be no more than $50. If you do not tell us within two business days after you learn of the loss, theft or other potential unauthorized use of your PIN, and we can prove we could have stopped someone from using it if you had told us in time, you could lose as much as $500.
If your statement shows transfers that you did not authorize, notify us immediately. If you do not notify us within 60 days of our mailing the first statement on which the unauthorized use appeared, you may not be reimbursed for funds lost provided we can prove that we could have stopped someone from taking the money if you had told us on time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time period.
Credit Union Liability If we do not properly complete a Transfer on time or in the correct amount according to our agreement with you, we will be liable for your direct losses or damages (not to exceed the amount of the transaction). However, there are exceptions. We will not be liable if, for instance:
In no event will we be liable for consequential, indirect, or punitive damages. The Credit Union will carry out written instructions from you and authorized users of your accounts. We will not incur liability for carrying out written instructions in a reasonable manner. You agree to indemnify the Credit Union and hold us harmless from any and all liability we incur as a result of following your written instructions in a reasonable manner.
Changes in Terms; Cancellation The policies and procedures outlined in this disclosure were in effect on the date of publication. The Board of Directors reserves the right to change Credit Union policy at any time without prior notice. Please contact us if you wish to determine if any changes have been made. You will receive at least 21 days' advance written notice of any change, deletion from, or addition to this Agreement that will adversely affect you. Your continued use of Virtual Branch after the effective date of the change will constitute your agreement to the changed terms. If you do not want a new or changed term to apply to your use of Virtual Branch, please notify us in writing to discontinue your services.
You agree that we can terminate this Agreement and your use of Virtual Branch if:
If any provision of this Agreement is found unenforceable, the remaining provisions will remain in full force and effect.
Enforcement If an authorized Virtual Branch transaction results in a negative balance in any of your accounts, you agree to restore the negative balance immediately upon our demand. If you do not do so, you agree that we can take funds from any Credit Union account in which any owner of the negative balance account has an interest to recover all or part of what you owe us. Our exercise of this right in the event of a negative balance is not an election of remedies and will not waive our right to pursue all other legal means of collecting what you owe us. You agree to pay all of our reasonable collection costs before we take legal action to collect what you owe us. If we do take legal action to collect what you owe us, you agree to pay our reasonable attorney's fees and costs of suit in addition to any other remedy the court finds proper. "Legal action" includes but is not limited to a collection lawsuit, an action to protect our interests if you become a debtor in bankruptcy, an appeal, or any other type of legal proceeding.
In Case of Errors or Questions About Your Electronic Transfers If you think that an electronic transfer shown on your statement is wrong, or if you need more information about a payment or transfer, immediately call us at (559) 584-0922 or (800) 635-4197 or fax us at (559) 583-6948, or you can also write to us at FAST Credit Union, Virtual Branch, 312 W. 7th Street, Hanford, CA 93230.
We must hear from you no later than 60 days after we sent you the first statement on which the error or problem appeared. A statement is considered sent when it is first made available. For an electronic statement, that is as soon as it is posted.
If you tell us orally, we may require that you send us your complaint or question in writing within ten business days. We will tell you the results of our investigation within ten 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 business days to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten business days for the amount you think is in error, so you will have the use of the money while we complete our investigation. If we ask you to put your complaint or questions in writing and we do not receive it within ten business days, we may not re-credit your account during our investigation.
We will tell you the results of our investigation in writing within three business days of concluding it. You may ask for copies of the documents we used in the investigation.
If a notice of error involves an electronic funds transfer that occurred within thirty (30) days after the first deposit to the account was made, the applicable time period for action shall be twenty- (20) business day in place of ten (10) business days. If a notice of error involves an electronic funds transfer that was initiated in a foreign country, the applicable time period for action shall be ninety (90) calendar days in place of forty-five (45) calendar days.
If we determine that we made an error, we will credit your account, or change a provisional credit to a permanent credit, within one business day. If we determine that there was no error, we will reverse any provisional credit we made to your account. If our reversing a provisional credit results in checks overdrawing your account, we will pay them for five business days after the reversal. However, you will still be responsible for paying us any amount by which your account is overdrawn. In no event will we pay items that overdraw your account in excess of the amount of the reversed provisional credit.