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Internet
Banking Disclosures
PERSONAL IDENTIFICATION NUMBER (P.I.N.).
This is
your “remote banking signature.” You are responsible for maintaining its
confidentiality. The P.I.N. should be memorized and not written, in
order to prevent unauthorized use, and so you may report its loss or
theft accurately.
JOINT ACCOUNTS.
You may
transfer funds to the account(s) of a family member on which you are a
joint owner; however, if you do so, you agree to provide a copy of the
Agreement to each owner of the account(s). The CU internet personal
identification number is issued only to the first member named on a
savings account and offers access to other accounts owned by that
member. You should not disclose your P.I.N. to any joint owner of your
savings account. If you do, the joint owner will have access to all your
accounts at SAIF FCU owned by you, either individually or jointly. If
you give access to your joint owner who does not have a primary account
of their own with SAIF FCU, we are not liable for any unauthorized
transactions. The joint owner must have a savings account with SAIF FCU
in order to have a separate PIN to access the primary owner’s account.
This will give the joint owner access to their account and yours.
CONSUMER LIABILITY FOR UNAUTHORIZED CU INTERNET TRANSACTIONS.
Tell
us at once if you believe your card, or P.I.N. or other information
which could provide electronic access to your account has been LOST or
STOLEN. Telephoning is the best way of keeping your possible losses
down. If you tell us within two business days, you can lose no more than
FIFTY DOLLARS ($50.00) if someone uses your card, P.I.N. or other
information without your permission.
If you
do not tell us within two business days after you learn of the loss or
theft of your card or P.I.N. or other information, and we can prove that
we could have stopped someone from using your card, P.I.N. or other
information without your permission if you had told us, you could lose
as much as FIVE HUNDRED DOLLARS ($500.00).
If your
statement shows transfers you did not make or authorize, 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 if we can prove
that we could have stopped someone from taking the money if you told us
in time. We are liable only for losses in excess of the limits stated.
NOTIFICATION PROCEDURE.
If you
believe that your P.I.N. has been LOST or STOLEN, or that someone has
transferred or may transfer money from your account without permission,
call us at the number shown at the beginning of this Agreement, or write
us at the address given:
SAIF
FEDERAL CREDIT UNION P.O. BOX
77959
Phone (225) 292-5490
BATON ROUGE, LA 70879
Toll Free 800-495-7203
BUSINESS HOURS.
BATON ROUGE Lobby: Monday – Friday 8 – 4:30 Drive-In: 8:00 – 4:30
TYPES OF TRANSACTIONS AVAILABLE.
You may
use your P.I.N. with the Internet service to obtain account information
related to any of your savings and loan accounts regarding current
balances and account history; savings dividend rates; YTD and prior year
dividends earned and interest paid on each account, and Certificate
Maturity date(s). You may also make transfers to other savings or
checking accounts of yours or such accounts you have authorized in
writing prior to such transfer request; withdraw funds from savings and
checking by check made payable to you and mailed to you at your mailing
address; make loan payments from any savings or checking account to any
loan account; and apply for a loan or line of credit.
TRANSFERS.
You may
make transfers to your accounts or other accounts you authorize as often
as you like except for those accounts with transfer limitations as
disclosed on the rate and fee schedule you received when you opened the
account and any amendments to that schedule. You may transfer up to the
balance in your account at the time of the transfer, except as limited
under other agreements. We reserve the right to refuse any transaction
that would draw upon insufficient funds or lower an account below a
required balance. Internet transactions may be made at anytime, seven
(7) days a week, unless the service is unavailable due to computer
backup procedures or maintenance.
CONDITIONS UNDER WHICH WE WILL DISCLOSE INFORMATION TO A THIRD PARTY.
You
agree that we may, and you hereby authorize us to, disclose information
to third parties about your account(s) or the transfers you make (1)
where it is necessary for completing transfers; (2) in order to verify
the existence and condition of your accounts for a third party, such as
a credit bureau or merchant; (3) in order to comply with government
agency or court orders; (4) where permitted under applicable law; or (5)
if you give us your permission.
DOCUMENTATION AND VERIFICATION OF TRANSFER.
Transfers and withdrawals transacted through Online Banking will be
recorded on your periodic statement.
You will
receive a monthly statement of your account activity unless no
electronic transfers were made to or from your account(s) during the
month, in which case you will receive a statement at least quarterly.
ERROR RESOLUTION.
Telephone or write us at the number and address shown on the back panel
of this Agreement as soon as possible if you think your statement or
receipt is wrong, or if you need more information about a transaction
listed on the statement or receipt. We must hear from you no later than
sixty (60) days after we send you the FIRST statement on which the
problem or error appeared. Provide the following information:
1. Your name and account number.
2. Describe the error or the transfer you are unsure about, and a clear
explanation of why you believe it is an error, or why you need more
information.
3. The dollar amount of the suspected error.
If you
tell us orally, we may require that you send your complaint or question
in writing within ten (10) business days. We will tell you the results
of our investigation within ten (10) business days after we hear from
you and will correct any error promptly. If we need more time, however,
we may take up to forty-five (45) days to investigate your complaint or
question. For new accounts, Point-of-Sale, or international
transactions, we may take up to ninety (90) days to investigate your
complaint or question.
If we
decide to do this, we will re-credit your account within ten (10)
business for the amount you think is in error, so you will have the use
of the money during the time it takes to complete our investigation. For
new accounts, we may take up to twenty (20) days to credit your account
for the amount you think is in error. If we ask you to put your
complaint or question in writing and do not receive it within ten (10)
business days, we may not re-credit your account.
If we
decide that there was no error, we will send you a written explanation
within three (3) business days after we finish our investigation. You
may ask for copies of the documents that we used in our investigation.
CANCELLATION.
We may cancel your Internet privileges at any time without notice or
cause. We may cancel your Internet privileges without notice if your
Internet service has been inactive for 6 months. You may cancel this
Agreement at any time by providing us with written notice that you wish
to cancel. Cancellation will be effective as of the date we receive the
notice. Any cancellation or termination will not affect any of your
existing liability to us.
LIABILITY.
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:
•
If, through no fault of ours, you do not have enough money in your
account to make the transfer. • If the Internet System was not working
properly and you knew it was not working properly when you started the
transfer.
• If circumstances beyond our control, (such as fire or flood) prevent
the transfer, despite reasonable precautions that we have taken.
§
If
we have reason to believe that transactions involving your account(s)
may be unauthorized, fraudulent, illegal, or otherwise improper.
§
If you used the wrong PIN or you have not properly followed any
applicable computer, Internet Access, or Credit Union user instructions
for making a transfer.
§
If the error was caused by a system beyond the Credit Union's control,
such as your Internet Service Provider.
§
If the funds in your account are subject to an administrative hold,
legal process or other claim.
§
If there are other exceptions as established by the Credit Union from
time to time.
§
If you give your PIN to a joint owner who does not have a primary
account with SAIF FCU and they make unauthorized transactions on your
account.
§
If you give your PIN to anyone unauthorized to use the account and they
make unauthorized transactions.
ACCOUNT INFORMATION.
The account balance and transaction history information may be limited
to recent account information involving your accounts. Also, the
availability of funds for transfer or withdrawal may be limited due to
the processing time for ATM transactions and our Funds Availability
Policy.
E-MAIL.
The
Credit
Union may not immediately receive E-mail communications that you send
and the Credit Union will not take action based on E-mail requests until
the Credit Union actually receives your message and has a reasonable
opportunity to act. E-Mail addresses are:
teller@saiffcu.com and
teller2@saiffcu.com. If you
need to contact the Credit Union immediately regarding an unauthorized
transaction or stop payment request, you may call the Credit Union at
the telephone number set forth in the Liability for Unauthorized Access
section.
FEES AND CHARGES.
There are no fees for online banking but will be fees for Online Bill
Paying.
TERMINATION OF INTERNET BANKING SERVICES.
You agree that we may terminate this Agreement and your use of the
Online Home Banking services if you or any authorized user of your
account or PIN breach this or any other agreement with us; or if we have
reason to believe that there has been an unauthorized use of your
account or PIN.
You or any other party to your account can terminate this Agreement by
notifying us in writing. Termination of service will be effective the
first business day following receipt of your written notice. However,
termination of this Agreement will not affect the rights and
responsibilities of the parties under this Agreement for transactions
initiated before termination.
MODIFICATION.
This Agreement may be amended by us without prior notice to you when
such an amendment is immediately necessary to maintain or restore the
security of the system or a member’s account(s). We will notify you in
writing thirty (30) days or as otherwise required by law prior to the
effective date of any other change in any term or condition of this
Agreement.
Federal Regulation D Overview
If you utilize Internet Home Banking to transfer
funds electronically, you need to know about this regulation to properly
manage your monthly transactions.
Federal Regulation D establishes the monetary reserve amount that
financial institutions are required to maintain at the Federal Reserve
Bank.
Regulation D stipulates that financial institutions must limit the
number of transfers and/or withdrawals an individual is allowed to make
from any savings account to another account or as payment to a third
party by means of pre-authorized, automatic or telephonic agreement,
order or instruction.
The amount to be held is determined by the amount and mix of its
deposits. Deposits are categorized under two general account types,
transaction account and non-transaction account:
LIMITED
Electronic Withdrawals for Non-Transaction Accounts:
-
Automatic transfers to other accounts (STS)
-
Preauthorized payments to a third party (ACH withdrawals)
-
Online
banking transfers
-
Overdraft transfers
-
Point of Service (POS) transactions
UNLIMITED
Electronic Withdrawals for Non-Transaction Accounts:
-
Withdrawals done in person at our
office
location
-
Transfers done in person at one of our office locations
-
Cash withdrawals at an automated teller machine (ATM)
-
Transfer requests made at an ATM
-
Automatic loan payments made on a SAIF FCU loan
-
Withdrawals requested by mail
-
Bill Payer Service
-
Checking withdrawals/payments by check or MasterCard Check Card
Any transfer requests (including
overdraft transfers) that are received after you have exceeded your
limit of six will be rejected. In addition, any ACH debits that are
received after the limit has been exceeded will be returned for
insufficient funds.
To avoid exceeding Regulation D
limits on non-transaction accounts:
-
Make recurring electronic payments from your checking account
instead of your savings;
-
Keep sufficient balances in your checking account to avoid
overdrafts;
-
Use a
line of
credit for overdraft protection instead of a savings
account;
-
Perform transfers (including wire transfers) at an
ATM
or in person at our
office
locations
Use
direct deposit/payroll deduction, if available to you, and have your
monies deposited to your checking account. You can transfer funds as
often as you like from a checking account.
INSTRUCTIONS
Home Banking
Application Instructions
1.
Complete and sign above application
2. Initial receipt of above disclosure
3. Make sure all joint signers also sign application
4. Fax, e-mail, or drop-off the application at the branch
5. Applications faxed or dropped off after hours could take 24 hours
before activated
Home Banking
Instructions
You can access Home Banking at our
website
www.saiffcu.com.
1. Click on “cruise.netteller.com.”
2. Enter the primary account number.
3. Enter your password.
4. Click on the submit button. You are now ready to access your
accounts.
5. For your protection, please change your password immediately.
With Home
Banking you can:
• Get
current account balances
• View
account histories
• Transfer between savings,
checking, and loan accounts
• Apply for a loan
• Request
a check (withdrawal)
• Obtain Tax Information
• Obtain Direct Deposit
information
Transactions involving your deposit accounts, including checking account
stop payment requests, will be subject to the terms of your account
agreement and transactions involving a line of credit account will be
subject to your loan agreement and disclosures, as applicable |
