Your Rights and Responsibilities
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. You should keep this notice for future reference.
Electronic Funds Transfers Initiated By Third Parties
You may authorize a third party to initiate electronic fund transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearinghouse (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check or draft to an electronic fund transfer or to electronically pay a retuned check or draft charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers.
Examples of these transfers include, but are not limited to:
You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
You may make arrangements to pay certain recurring bills from your checking or savings account(s).
Electronic check or draft conversion
You may authorize a merchant or other payee to make one-time electronic payment from your share draft account using information from your check or draft to pay for purchases or pay bills.
Electronic returned check or draft charge
You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.
Telephone Access - types of transfers
You may access your account by telephone 24 hours a day at 317.916.7700 or 800.473.2328. Using your personal identification number and your account numbers, you may:
* transfer funds from checking to checking
* transfer funds from checking to savings
* transfer funds from savings to checking
* 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 last deposit to checking account(s)
- the last withdrawal from checking account(s)
- the account balance of savings account(s)
- the last deposit to savings account(s)
* request a check withdrawal from your savings or checking account(s).
(Withdrawal checks requested through Telephone Access will be mailed to the address on your account, made payable to you, the next business day).
Additional types of available transfers and limits on transfers
ATM Transfers - types of transfers, dollar limitations, and charges
You may access your account(s) by ATM using your debit card/ATM card and personal identification number (PIN). At an ATM you may:
* make deposits to checking or savings account(s)
* get cash withdrawals from checking or savings account(s) - you may withdraw no more than $400.00 per business day
* transfer funds from savings to checking account(s)
* transfer funds from checking to savings account(s)
* make payments from savings or checking account(s) to Finance Center Federal Credit Union (Financial Center)
* view the balance of your checking or savings account(s)
Please refer to our Service Charge Schedule for additional information about charges. Some of these services may not be available at all terminals.
Types of Point-of-Sale Transactions
You may access your designated account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant (if the merchant permits) or from a participating financial institution.
Types of VISA® Debit Card Transactions
You may access your designated 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, as well as any additional transactions that a participating merchant will accept.
Debit Card Transaction - dollar limitations
Using you debit card:
* you may not exceed $2,000.00 in transactions per day
Currency Conversion and International Transactions
When you use your VISA® Debit 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 rate selected by VISA® from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA® itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.
VISA USA® charges us a .8% International Service Assessment on all international transactions, regardless of whether there is a currency conversion. If there is a currency conversion, the International Service Assessment is 1% of the transaction. In either case, we pass this international transaction fee on to you. An international transaction is a transaction where country of the merchant is outside the USA.
Advisory Against Illegal Use
You agree not to use your card(s) for illegal gambling or any 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.
Internet Access - types of transfers
You may access your account(s) by computer at www.fcfcu.com. Using your personal identification number and your account numbers, you may:
* transfer funds between your designated accounts
* make payments from checking to loan accounts with us
* make payments from savings to loan accounts with us
* make payments from checking to third parties using the BillPayer feature
* get information about:
- the account balance of your designated accounts
- deposits to your designated accounts
- withdrawals from your designated accounts
Security Code Access
You may use one or more access codes with your electronic funds transfers. The access codes issued to you are for your security purposes. Any codes issued to you are confidential and should not be disclosed to third parties or recorded on or with the Card. You are responsible for safekeeping your access codes. You agree not to disclose or otherwise make your codes available to anyone not authorized to sign on your accounts. If you do authorize anyone to use your access codes, that authority shall continue until you specifically revoke such authority by notifying the Credit Union. You understand that any joint owner you authorize to use an access code may withdraw or transfer funds from any of your accounts. If you fail to maintain the security of these access codes and the Credit Union suffers a loss, we may terminate your EFT services immediately.
Health Savings Accounts (HSA)
We permit some electronic fund transfers to and/or from your HSA. The electronic fund transfers we permit are offered for the convenience of managing your HSA. However, electronically moving funds to or from your HSA – for example, depositing more than the allowable amount, or getting additional cash back on an HSA debit card transaction – can raise a variety of tax concerns. As a result, before electronically accessing any account you may have with us, it is a good practice to make sure you are using the correct access device (such as a card) or accessing the appropriate account for the transaction. Also, it is your responsibility to ensure the contributions, distributions, and other actions related to your HSA, comply with the law, including federal tax law. As always, we recommend consulting a legal or tax professional if you have any questions about managing your HSA. The terms of this disclosure are intended to work in conjunction with the HSA Agreement provided to you earlier. In the event of a conflict, the terms of the HSA Agreement control. You understand that your HSA is intended to be used for payment of qualified medical expenses. It is your responsibility to satisfy any tax liability resulting from use of your HSA for any purpose other than payment or reimbursement of qualified medical expenses. We do not monitor the purpose of any transaction to or from your HSA. Nor are we responsible for ensuring your eligibility for making contributions or ensuring withdrawals are used for payment or reimbursement of qualified medical expenses. Refer to your HSA Agreement for more information relating to the use of your HSA.
Except as indicated elsewhere, we do not charge for these electronic fund transfers:
* direct deposits to any type of account.
* preauthorized payments from any type of account.
Please refer to our Service Charge Schedule for additional information about fees.
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).
You can get a receipt at the time you make a transfer to or from your account using automated teller machines or point-of-sale terminals. However, you may not get a receipt if the amount of the transfer is $15 or less.
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.
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:
1. Call or write us at the telephone number or address listed in this brochure in time for us to receive your request three 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 writing and get it to us within 14 days after you call.
2. Please refer to our fee schedule for the amount we will charge 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, ten 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 three 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:
* If, through no fault of ours, you do not have enough money in your account to make the transfer.
* If you have an overdraft line and the transfer would go over the credit limit.
* If the automated teller machine where you are making the transfer does not have enough cash.
* If the terminal or system was not working properly and you knew about the breakdown 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.
* There may be other exceptions stated in our agreement with you.
We will disclose information to third parties about your account or the transfers you make:
* where it is necessary for completing transfers; or
* in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
* in order to comply with government agency or court orders; or
* as explained in the separate Privacy disclosure.
(a) Consumer liability - Generally
Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check or draft. 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 two business days after you learn of the loss or theft of your card and/or code, 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 two 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, including those made by card, code or other means, 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 a hospital stay) kept you from telling us, we will extend the time periods.
(b) Additional Limit on Liability for Debit 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 Debit Card. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by VISA®.
(c) Contact in Event of Unauthorized Transfer
If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this brochure. You should also call the number or write to the address listed in this brochure if you believe a transfer has been made using the information from your check or draft without your permission.
Error Resolution Notice
In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed in this brochure, 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.
If you contact us regarding a problem or possible error, please:
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 ten business days (five business days for VISA® Debit Card point-of-sale transactions processed by VISA® 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 ten business days (five business days for VISA® Debit Card point-of-sale transactions processed by VISA® 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 ten 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 you and any joint owner already had an established account with us before this account was 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.
FINANCE CENTER FEDERAL CREDIT UNION
P.O. BOX 26501
INDIANAPOLIS, INDIANA 46226
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: 800.473.2328 or 317.916.7700
Lost or stolen debit card (CheckCard) after hours: 800.646.3174
More Detailed Information is Available on Request