eBanking SERVICES AGREEMENT & DISCLOSURE STATEMENT
This eBanking Services Agreement and Disclosure Statement (“Agreement”) specifically governs access to your Credit Union accounts via the Internet for services requested by you and agreed upon by the Credit Union. This Agreement describes your rights and responsibilities concerning these services including your rights under the Electronic Funds Transfer Act. Please read this document carefully and retain a copy for your records.
As used in this Agreement, the terms “Credit Union”, “we”, and “us” shall refer to the NBC (NY) Employees Federal Credit Union. The terms “you”, “your”, and “yourself” shall refer to each member jointly and severally, and all other individuals that the member(s) may have given access.
By initiating inquires and/or transactions through eBanking Services, or by permitting another to use eBanking Services on your behalf, you acknowledge receipt of this Agreement and agree to be bound by all terms and conditions contained herein, and all applicable terms and conditions in all other agreements governing your share and loan accounts accessible in connection with eBanking Services. You further agree to follow all instructions provided by eBanking Services and displayed on your computer screen. The terms and conditions of this Agreement are in addition to the terms and conditions of any and all other deposit accounts and credit agreements you have with us, including all such disclosures made pursuant to such agreements. You further agree to abide by any terms or conditions that may be added because of future enhancements to eBanking Services.
ENROLLMENT FOR eBanking SERVICES -
You may access eBanking Services thru our Internet homepage at www.nbcnyefcu.org. For enrollment you will need your Credit Union account number, your social security number and your street or post office box number (as printed on your periodic statement). In the event your address line does not include a number, you must contact us prior to enrolling. You will be required to create a personalized Logon ID (between 6 to 50 alphanumeric characters that may also include periods, dashes, underscores and the "@" symbol), and Security Code (between 8 to 16 alphanumeric characters that includes at least two numbers and two letters).
Using your Logon ID and Security Code will have the same effect as your signature does in authorizing transactions. You are responsible for keeping your Logon ID and Security Code confidential. You agree to safely keep your Logon ID and Security Code, to periodically change your Logon ID and Security Code, not to record your Logon ID and Security Code on documents or records located on or around your personal computer, or otherwise disclose or make your Logon ID and Security Code available to anyone other than authorized users of your accounts. If you fail to maintain security of your Logon ID and Security Code and the Credit Union suffers a loss, we reserve the right to terminate your access to eBanking Services, as well as to terminate all other Credit Union services. Anyone to whom you disclose or may otherwise have knowledge of your Logon ID and Security Code will have full access to your accounts. You have no ability to limit any such person’s authority.
BILL PAYMENT SERVICE -
Please refer to the addendum for any additional disclosures as they may pertain to the Bill Payment services.
AVAILABLE SERVICES -
Once logged on, you may carry out the following functions:
- Balance Inquire/History – There is up to two years of history on savings (including clubs, certificates and IRAs) and loan accounts, and one year of history on checking and money market accounts. Although VISA balances are available, VISA account history is not. Check images and dividends earned information are also available.
- Transfers – You may initiate transfers between the various accounts types established under your account number. You may also initiate transfers between other member’s accounts if you have requested such access and have authorized access such accounts.
- Cash Advances – You may initiate transfers (“advances”) from available line-of-credit accounts (Overdraft Protection and Home Equity). Option not available for VISA accounts.
- Loan Payments – Each loan payment initiated shall be applied first to interest owed then to principal. VISA payments may also be transacted although the VISA balance will not be updated until the morning of the following business day (provided payment was completed prior to 5:15pm EST in accordance under Section 7 of this Agreement).
- Limitations – In addition to regulatory limitations (noted in Section 5), you will not be permitted to initiate transactions into or out of Share Certificates, IRAs or Escrow club accounts, nor are you permitted to initiate transactions out of Holiday Club accounts. We reserve the right to limit the frequency and dollar amount of transactions at any time for security reasons.
- Other eBanking Services – Other services includes secure email and message capabilities, allowing you to send electronic messages to us. We may not immediately receive and review sent messages and will NOT process any requests for transactions via sent messages. In some instances, written confirmation reflecting your authorization may still be required. If your request requires immediate attention, contact the Credit Union directly by phone (212-664-3970) or in person.
REGULATORY LIMITATIONS ON NUMBER OF TRANSFERS - Federal regulations govern the number and type of withdrawals from all Credit Union accounts. According to the Federal Reserve, savings accounts (including holiday and vacation club accounts, share certificates, IRAs and money market accounts) are intended to be used for long term savings and therefore should have a small number of withdrawals, while checking accounts are intended to be used as transactional accounts (i.e. to pay bills) and have a higher number of withdrawals. As a result, we are required by law to limit certain withdrawals from non-transaction accounts to no more than six per month.
The following withdrawal transactions from savings accounts are included in the six:
- Checks or drafts made payable to 3rd parties;
- Debit/ATM card purchases;
- Preauthorized or automatic transfers to a 3rd party, including ACH transfers;
- Transfers initiated through internet banking (eBanking Services);
- Telephone transfers initiated via an audio response system (MARS) as well as those made to a Credit Union employee;
- Transfers to other accounts ( excluding loan or VISA payments) at the Credit Union;
- Transfers to accounts at other financial institutions;
- Faxed or emailed requests for transfers.
If you exceed the transfer limitations set forth above in any month, the transfer may not be completed, your share account may be subject to a fee, account closure, or suspension or we may revoke your access to eBanking Services.
In addition, we will not be required to complete a withdrawal or transfer from your account if you do not have enough money in the account to cover the transaction. You agree not to use eBanking Services to initiate a transaction that would cause the balance in your designated account to go below zero. If you have a line-of-credit, you agree not to use eBanking Services to initiate a transaction that would cause the outstanding balance of your line-of-credit to go above your credit limit. We will not be required to complete such a transaction, but if we do, you agree to pay us the excess amount or improperly withdrawn amount or transferred amount immediately upon our request.
SCHEDULE OF FEES & CHARGES -
Currently there is no fee for eBanking Services or Bill Payment services. However, we reserve the right to impose fees or subsequently change any fee structure without notice. You are responsible for any and all telephone service fees and/or Internet connection charges that may be assessed by your telephone and/or Internet service provider.
PROCESSING DATE FOR TRANSACTIONS -
eBanking Services is available 24 hours a day, 7 days a week, 365 days a year, although there will be times when eBanking Services may be unavailable due to scheduled or emergency system maintenance. We will process transactions you initiated on the business day you instructed provided we receive your instructions prior to 8:00 pm EST. (cut-off time for VISA payments is 5:15 pm EST.). Transactions initiated after that time will be processed the next business day. Business days are Monday through Friday, excluding legal banking holidays.
RECORD OF TRANSACTIONS -
Any and all transactions that are completed on eBanking Services will appear on your periodic account statement along with other transactions you may have completed by use of other means (such as in person, by mail, telephone, ATM or merchant). You will be sent a monthly account statement unless there is no activity in a particular month. In any case, you will be sent an account statement at least quarterly. You agree to review and verify transactions on your account statement promptly upon receiving it. If your account statement reflects a transaction that you did not initialize, you must notify us AT ONCE. You may also obtain information on your account by use of eBanking Services account history option.
YOUR LIABILITY FOR TRANSACTIONS -
You may be liable for unauthorized access to accounts via eBanking Services to the extent permitted by applicable federal and state laws and regulations. You must tell us AT ONCE if you believe your account number, Logon ID, Security Code, or any record thereof, has been lost or stolen, or if any of your accounts have been accessed without your authority. You may telephone us at 212-664-3970, email us at firstname.lastname@example.org, or mail to NBC (NY) Employees Federal Credit Union, 30 Rockefeller Plaza, Room 716 S, New York, NY 10112. Telephoning is the best way of minimizing your liability. You could lose all the money in your accounts, plus any available credit on your line(s) of credit. If you notify us within two (2) business days of the loss, theft, or unauthorized access, you can lose no more than $50 from an unauthorized transaction. If you do NOT notify us within two (2) business days after you learn of the loss, theft or unauthorized access, and we can prove we could have prevented the unauthorized transaction if you had notified us, you could lose as much as $500.
In addition, if your statement shows transactions that you did not authorize, you must notify us AT ONCE. If you fail to notify us within sixty (60) days after the statement was mailed to you, you may not get back any funds you lost after sixty (60) days if we can prove that the unauthorized transaction could have been prevented had you notified us in time.
CREDIT UNION LIABILITY FOR FALURE TO COMPLETE TRANSACTIONS -
If we fail to complete a transaction or such transaction is delayed or in an incorrect amount, when properly instructed by you, we may be liable for damages caused by our failure unless:
- We have terminated this Agreement.
- There are insufficient funds available in your account to complete the transaction through no fault of the Credit Union.
- You are in default on a Credit Union account.
- Your account is closed, frozen or funds are uncollected.
- A legal order directs us to prohibit withdrawals from your account.
- The transaction would exceed any permitted line of credit you may have.
- You have reported unauthorized use of your Logon ID or Security Code or reported it lost, stolen or have otherwise locked yourself out of eBanking Services.
- Circumstances beyond the Credit Union’s control (such as power failure, computer breakdown, telephone line disruption, or natural disasters) that prevents or delays the transaction, despite reasonable precautions that we may have taken.
- Other exceptions not specifically mentioned above.
In any case, we may only be liable for actual proven damages if the failure to complete the transaction resulted from a bona fide error despite the Credit Union procedures to avoid such errors. However, it is your responsibility to verify that the transaction confirmation was received.
In addition, we shall have no liability whatsoever for failure to complete a transaction that you initiate or attempt to initiate through eBanking Services under any of the following circumstances:
- If you did not properly follow the instructions provided on how to initiate the transaction.
- If you did not give us complete, correct, or current instructions or information.
- If your personal computer and/or software malfunctioned for any reason.
- If any part of the eBanking Services was not working properly and you knew about the problem when you started the transaction.
- If the transaction could not be completed due to eBanking Services unavailability.
- The transaction was blocked to protect the integrity or security of eBanking Services.
ERROR RESOLUTION -
Contact us IMMEDIATELY if you believe your statement is wrong or if you need more information about a transaction listed on your statement. We must hear from you no later than sixty (60) days after the statement on which the questionable transaction appeared was mailed to you. When telephoning or writing, be sure to include:
- Account information – your name and account number.
- Dollar amount – the dollar amount of the suspected error.
- Date and description of the problem – if you believe there is an error on your statement, describe the error or the transaction you are unsure about, and explain as clearly as possible why you believe the transaction is in error or why you need more information.
If you notify us orally, we may still require you to submit your complaint or question in writing within ten (10) business days. You will be notified as to the results of our investigation within ten (10) business days after your request has been received and will correct any error promptly. If more time is required, however, it may take up to forty-five (45) calendar days to investigate your complaint or question. In the event that this additional time is required, your account will be credited within ten (10) business days for the amount you claim is in error so that you will have use of this money during the period while the investigation is completed. Should we require you to submit your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. For transactions that involve an electronic transfer from your account to purchase goods or services directly from a merchant or for transactions initiated outside the United States, the time period may be extended to ninety (90) calendar days.
In the event that we have determined that there was no error, you will be mailed a written explanation within three (3) business days after completion of the investigation. If you received credit during the investigation, your account will be debited at that time. You may ask for copies of documentations that were used in the investigation and upon which we relied to conclude that the error did not occur.
ACCOUNT INFORMATION DISCLOSURE -
In order to facilitate or investigate any error resolution, it may be necessary to obtain additional information from other financial institutions, merchants or consumer credit reporting agencies. By accepting and using eBanking Services, you authorize us to obtain relative information from other third parties and grant us the right to request a review of your credit report at no expense to you.
TERMS OF AGREEMENT -
We may amend or change the terms and conditions of this Agreement at any time. You will be sent notice at least thirty (30) days prior to when the amendment or change becomes effective if the amendment or change will result in greater costs or liability to you or stricter limitations on the transactions you may initiate. To the extent permitted by applicable law, you will be notified of any such amendment or change electronically by posting such notice on the eBanking Services Welcome Page. In the event that an immediate change in the terms and conditions is necessary for security reasons, we may amend these terms and conditions without such prior notice.
Any use of eBanking Services after notification has been sent will constitute your agreement to such amendment or change. If you do not agree to the amendment or change, you must notify us prior to the effective date of the amendment or change and terminate your access to eBanking Services.
Further, the Credit Union may, from time to time, revise or update the programs, services, and/or related contents, which may render all such prior versions obsolete. Consequently, we reserve the right to terminate this Agreement and all such prior versions of eBanking Services and/or related contents and limit access to eBanking Services more recent versions and updates.
If any provisions of this Agreement are found unenforceable or invalid, all remaining provisions will continue in full force and effect. Any waiver (express or implied) by either party or any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or subsequent default or breach. You may not assign this Agreement.
You may terminate this Agreement and your access to eBanking Services at any time by notifying us either orally or in writing. We may terminate this Agreement and your access to eBanking Services at any time. Whether you or we terminate this Agreement, the termination shall not affect your liability or obligation under this Agreement, even for transactions that occur or are completed after this Agreement is terminated.
All notices from us will be effective when we have mailed them or delivered them to the last known address in the Credit Union’s records. Notices from you will generally be effective once we receive them at NBC (NY) Employees Federal Credit Union, 30 Rockefeller Plaza, Room 716 S, New York, NY 10112. Notices under Section 9 will be effective once you have done whatever is reasonably necessary to give us the information we need, such as by telephoning us.
DISPUTES & CONFLICTS -
In the event of a dispute regarding eBanking Services, you agree to resolve the dispute by looking into this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between yourself and us which supersedes any proposal or prior agreement, oral or written, and any other communication between yourself and us relating to the subject matter of this Agreement. If there is a conflict between what a Credit Union employee says and the terms of this Agreement, the terms of this Agreement shall preside.
This Agreement is intended to supplement and not replace other agreements between yourself and us relating to your accounts. In the event of a conflict between this Agreement and any other account guidelines and agreements that apply to your accounts, this Agreement shall govern and prevail unless otherwise specified by law or in this Agreement.
You are liable to us for any loss, cost or expense we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, costs or expenses from your account without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to law, to payment of reasonable attorney’s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions.
GOVERNING LAWS -
This Agreement is governed by the Credit Union’s Bylaws, federal laws and regulations, the laws, including applicable principals of contract law, and regulations of the state in which the Credit Union’s main office is located (New York), and local clearinghouse rules, as amended from time to time. As permitted by law, you agree that any legal action regarding this Agreement shall be brought in the county in which the Credit Union is located.