SERVICE TERMS AND CONDITIONS

The following terms and conditions govern the manner in which P.S.T.C. Employees Federal Credit Union (Us, We, Our) will provide Virtual Branch? Internet Home Banking to You:

Our Members Service Information

1402 Bywood Avenue
Upper Darby, Pennsylvania 19082
Telephone (610) 352-2000
Fax (610) 352-3321

Services/Rights to Make Transfers. You authorize Us to utilize IntegraSys to provide Services to You on Our behalf. We reserve the right to refuse to make any payment and/or transfer. Funds will arrive at Your targeted Account as close as reasonably possible to the date designated by You in Your payment and/or transfer instructions (Payment Date). Subject to the terms and conditions of this Agreement, You authorize Us, and any third party acting on Our behalf, to choose the most effective method to process Your payments and/or transfers, including without limitation, electronic, paper or some other draft means. For each properly instructed payment to be eligible and/or transfer to a targeted Account, You will receive a transaction Confirmation Number.

The Payment Date indicated by You must always be a Business Day (as defined below). If it is not, the Payment Date will be deemed to be the first Business Day after the date indicated.

LIABILITY. UNLESS YOU RECEIVE A CONFIRMATION NUMBER, WE SHALL NOT BE LIABLE FOR ANY FAILURE TO MAKE A PAYMENT AND/OR TRANSFER, INCLUDING ANY FINANCE CHARGES OR LATE FEES INCURRED AS A RESULT. IT IS ALSO IMPORTANT THAT THE PAYMENT DATE BE ON OR BEFORE THE MERCHANT DUE DATE, NOT THE LATE DATE, AND, SINCE THE TIME FOR US TO PROCESS YOUR PAYMENT VARIES ACCORDING TO THE PARTICULAR MERCHANT, YOU MUST BECOME FAMILIAR WITH THE PAYMENT PROCESSING TIME FOR EACH MERCHANT YOU DESIRE TO PAY, AND ALLOW THE APPROPRIATE NUMBER OF BUSINESS DAYS BETWEEN THE DAY YOU INPUT YOUR PAYMENT INSTRUCTION AND THE PAYMENT DATE. SUBJECT TO THE LIMITATION DISCUSSED BELOW, IF YOU FOLLOW THE PROCEDURES DESCRIBED IN THIS AGREEMENT FOR PAYMENTS, AND YOU ARE ASSESSED A PENALTY OR LATE CHARGE, WE WILL REIMBURSE YOU FOR THAT LATE CHARGE UP TO A MAXIMUM OF FIFTY DOLLARS ($50.00). IN THE EVENT THAT YOU DO NOT ADHERE TO THE OBLIGATIONS SET FORTH IN THIS AGREEMENT, OR YOU SCHEDULE A PAYMENT LESS THAN THE NUMBER OF BUSINESS DAYS BEFORE THE DUE DATE REQUIRED FOR A PARTICULAR MERCHANT, YOU WILL BEAR FULL RESPONSIBILITY FOR ALL PENALTIES AND LATE FEES AND WE WILL NOT BE LIABLE FOR ANY SUCH CHARGES OR FEES. THE SERVICE ASSUMES NO LIABILITY FOR THE LATE POSTING OR MISAPPLICATION OF PAYMENTS ONCE MERCHANTS RECEIVE THE FUNDS.

Limitations. Under no circumstances will We be liable if We are unable to complete any payment requests and/or transfers initiated in a timely manner via the Services because of the existence of any one or more of the following circumstances:

  1. You do not obtain Confirmation at the time You initiate a payment and/or transfer.
  2. The designated Account does not contain sufficient funds to complete the payment and/or transfer.
  3. You have closed the designated Account.
  4. We have identified You as a credit risk and have chosen to (i) make all payments and/or transfers initiated by You via the Services utilizing a paper, as opposed to electronic method, or (ii) terminate Your subscription to the Services.
  5. The Services, Your equipment, the software, or any communications link is not working properly and You know or have been advised by Us about the malfunction before You execute the transaction.
  6. You have not provided Us with the correct information for those Accounts to which You wish to make a transfer.
  7. Circumstances beyond our control (such as, but not limited to, fire, flood, or interference from an outside source) prevent the proper execution of the transaction and We have taken reasonable precautions to avoid these circumstances.
  8. The Payee mishandles or delays handling payments sent by Us.

WE ARE NOT RESPONSIBLE FOR ANY OTHER LOSS, DAMAGE OR INJURY, WHETHER CAUSED BY YOUR EQUIPMENT OR SOFTWARE, THE SERVICES, OR ANY TECHNICAL OR EDITORIAL ERRORS CONTAINED IN OR OMISSIONS FROM ANY USER GUIDE OR BROCHURE RELATED TO THE SERVICES. WE SHALL NOT BE RESPONSIBLE FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE ARISING IN ANY WAY OUT OF THE INSTALLATION, THE USE OR THE MAINTENANCE OF YOUR EQUIPMENT, SOFTWARE OR THE SERVICES, EXCEPT WHERE THE LAW REQUIRES A DIFFERENT STANDARD.

Stop Payment/Payment Cancellation/Modification. Except for those transfers which are completed immediately, You may cancel or modify a payment and/or transfer up to 2:00 p.m. Eastern Time the same Business Day You schedule for a payment/transfer.

Statements. All payments and/or transfers made via the Services will be listed on Your monthly/quarterly statements that you receive from Us.

New Services. We may, from time to time, introduce new services or enhance the existing Services. We shall notify You of the existence of these new or enhanced services. By using these services when they become available, You agree to be bound by the obligations concerning these services, which will be sent to You.

Care of Your Security Code and Security. You agree that You will not give your Services Security Code or make it available to any other person. If You believe that Your Security Code has been lost or stolen, or that someone has made payments and/or transfers using Your Security Code without Your permission, notify Us IMMEDIATELY by phone any time during our regularly scheduled hours or send an electronic message through the Service to Us.

Your Liability for Unauthorized Payments. If you believe that Your Security Code has been lost or stolen, notify Us IMMEDIATELY as provided previously in order to keep your possible losses at a minimum. If You notify Us within two (2) Business Days after You learn of the loss or theft, your maximum liability is $50.00.

If You do NOT notify Us within two (2) Business days after You learn of the loss or theft of Your Security Code, and We can prove that We could have prevented someone from using Your Security Code if You had told Us in time, Your maximum liability is $500.00.

If Your statement contains payments and/or transfers that You did not make, notify Us IMMEDIATELY at either the address or telephone number described previously in this disclosure. If you do not notify Us within sixty (60) days after the Statement was mailed to You, You may not get back any of the money You lost 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 hospital stay or a long trip) prevented You from telling Us, We may, at Our discretion, extend the time.

Errors and Questions. Contact Us as soon as possible at either the address or telephone number described previously if You think that a payment and/or transfer listed on Your statement is in error or if You need more information about a payment and/or transfer listed on the Statement. We must hear from You no later than sixty (60) days after You received the first Statement on which the problem or error appeared.

When You call or write Us, You must:

  1. Tell Us Your name and User ID.
  2. Describe the payment and/or transfer You are unsure about (Account information, Transaction Date, and Transaction Amount) and explain as clearly as possible why You believe it is an error or need more information. If possible, please provide Us with the Confirmation Number for such transactions.
  3. Tell Us the dollar amount of the suspected error. If You tell Us orally, or by using the Services’ electronic mail, We may require that You send Your Complaint in writing within ten (10) Business Days after We receive Your complaint. We will tell You the results of Our investigation with ten (10) Business Days after We hear from You and if Our research results indicate that an error has occurred, We will correct any error promptly.

If We need more time, We may take up to forty-five (45) days to investigate the complaint or questions. If We decide to do this, We will recredit Your Account within ten (10) Business Days after We hear from You for the amount You think is in error in order that You may have use of the money during the time it takes to complete Our investigation. If We ask You to put Your complaint or question in writing and We do not receive it within ten (10) Business Days, We may not recredit Your Account.

If We decide that there was no error, We will mail or transmit to You a written explanation within three (3) Business Days of the date of such explanation. We will debit Your Account of the amount previously recredited to You for use during the time We took to complete Our investigation. You may ask for copies of documents used during Our investigation.

Disclosure of Account Information to Third Parties. We will only disclose information to third parties about Your Account(s):

  1. When it is necessary for completing payments and/or transfers.
  2. In order to comply with a government agency or court order; or
  3. If you give Your permission.

Charges. All Virtual Branch Services are provided to You free of charge.

In the event We are unable to process a Services transaction, (if, for example, there are insufficient funds in Your designated Accounts) the transaction will result in a “Failed Payment and/or Transfer.” In such event, We will charge the total cost of the transaction, including a service charge of $25.00, to You. We reserve the right to suspend Your Subscription to the Services. This suspension may be without prior notice to You. If Your subscription is suspended, transactions that were previously initiated may still continue to be processed unless cancelled and confirmation of such cancellation is provided as specified below. Suspension will be handled by the Credit Union and all inquiries and correspondence relating thereto including requests for reinstatement should be directed to the Credit Union. In the event Your subscription is suspended, We will notify You by mail to Your listed address. With respect to any Failed Payment and/or Transfer, You agree to reimburse Us within fourteen (14) days after the notice is sent to You, for any funds We have already paid to one or more of Your designated Accounts which We are unable to recover by debit or charge to You.

If You do not pay any amount owed to Us when due, You agree to pay interest on the unpaid balance at the rate of 18% per annum, or 1.5% per month (or the maximum rate allowed by applicable law, if less). In the event that Your claim or debt has to be referred to a third party for collection, You agree, to the extent permitted by law, to pay all costs and fees incurred in collecting the outstanding balances including reasonable attorney’s fees and court costs.

Fee Schedule. You agree to pay Us the fees to be published by Us from time to time.

Additional Terms and Conditions.

  1. In addition to the foregoing, You agree to be bound by and comply with the requirements of the information provided and applicable state and federal laws and regulations. We agree to be bound by them too.
  2. We reserve the right to terminate Your use of the Services, in whole or in part, at any time without prior notice.
  3. You may cancel Your subscription to the Services, upon thirty (30) days prior notice to the Credit Union. You will be responsible for all payments and/or transfers You have requested prior to termination and for all charges, fees, and taxes incurred.

BE SURE TO CANCEL ALL OUTSTANDING PAYMENTS AND/OR TRANSFERS WITHIN THE THIRTY (30) DAY NOTIFICATION PERIOD. WE WILL NOT BE LIABLE FOR PAYMENTS AND/OR TRANSFERS NOT CANCELLED OR MADE DUE TO YOUR ACTIONS RELATED TO SERVICE TERMINATION.

  1. These Terms and Conditions and all information provided to You and any applicable Service fees and charges may only be altered or amended by Us. In such event, We shall send notice to You at Your listed address or transmit notice of the alteration or amendment over the Services. Your use of the Services following receipt of such notice constitutes acceptance of such alterations or amendments.
  2. In the event of a dispute regarding the Services, You and We agree to resolve this dispute by looking to these Terms and Conditions. These Terms and Conditions shall supersede any and all other representations made by You or Our employees.
  3. These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Pennsylvania.
  4. Business Days are Monday through Friday excluding normal Credit Union holidays.

Features:

The Internet Home Banking Service-Virtual Branch? will allow you to:

  • Obtain Account Balances
  • Perform On-Line Histories
  • Send and Receive e-mail to/from the Credit Union
  • Calculate payments and dividends
  • Export File Information to other Financial Software Programs
  • Transfer Funds

Types of Accounts Not Available with the Internet Home Banking Service-Virtual Branch?: Visa Credit Card. The Visa Credit Card Online Services can be accessed through the Visa Credit Card link available on Our web site.

Right to Receipt:

According to the Federal Reserve Board Official Staff Commentary (OSC) 205.7 (a)-4, financial institutions must ensure that consumers who sign-up for a new banking service are provided with disclosures for the new service if the service is subject to terms and conditions different from those described in the initial disclosure requirement under 205.7.

The OSC clarifies that terminal receipts are unnecessary for transfers initiated on-line. Specifically, OSC 205.2(h)-1 provides that, because the term “electronic terminal” excludes a telephone operated by a consumer, financial institutions need not provide a terminal receipt when a consumer initiates a transfer by a means analogous in function to a telephone, such as by a personal computer or facsimile machine.

Other:

  • Payment of taxes or court directed payments via the Service is prohibited.

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.