Electronic Funds Transfer Policy

Terms, Conditions and Disclosures Applicable To Electronic Funds Transfers and Related Services

Definitions. The acronym “ACH” refers to Automated Clearing House services. The term “ARROW” refers to your audio response (i.e., telephonic transfer) system. The acronym “ATM” means an automated teller machine. “Card” means my ATM card or my Visa Check Card and any duplicates, renewals or substitutions that you issue to me. The acronym “EFT” means an electronic funds transfer. “Password” refers to the password I have selected to access my Accounts via the Internet through MyPoint Credit Union Online and/or the MyPoint Credit Union Online “Bill Pay Online” feature. The acronym “PIN” means my personal identification number. The acronym “POS” stands for point-of-sale.
Acknowledgment of Agreement. By retaining, using or allowing others to use the electronic services offered by you, I am agreeing to be bound by the terms and conditions of this section.
Responsibility for Transactions. I am responsible for all transactions I make with the Card or that I authorize another person to make with the Card. I understand that if I disclose my PIN to anyone, they will have access to all Accounts identified by my Account number. If the Account is a joint Account, all transactions involving the Account are binding on all owners. My responsibility for unauthorized transactions is disclosed under “My Liability” below.
Confidentiality. You will treat my electronic funds as transfers with the same degree of confidentiality that you afford to all of my business with you as disclosed in the “Notice of Financial Privacy Rights” section of this Agreement and Disclosure.
Business Days. I understand that for the purposes of electronic funds transfers, your business days are the same as those listed in the “General Terms, Conditions and Disclosures” section of this Agreement and Disclosure.
Fees. When I use an ATM that is not owned by you, I may be charged a fee by the ATM operator or any network used and I may be charged a fee for a balance inquiry even if I do not complete a funds transfer.
Access Requirements. I understand that you require me to have:

- Internet access, a Netscape Navigator or Microsoft Internet Explorer Internet browser, a transaction account and a PIN/password in order to access MyPoint Credit Union Online and Bill Pay Online;
- A Card and a PIN to access ATMs and POS terminals;
- A PIN to access ARROW.

I understand that my PIN and/or password are confidential and that I am to memorize them. If I forget one or both, I will contact you for instructions on how to choose a new one.

Card Ownership. I understand that all Cards are non-transferable and belong to you. I further understand that you may cancel, modify and/or restrict the use of any Card upon proper notice, or without notice if my Account is overdrawn or where necessary to maintain or restore the security of Accounts on the computer system. Upon cancellation of my Card, I agree to return the Card to you or destroy it upon your request.

Rules for Use. All EFTs are subject to the terms and conditions of my Account agreement(s) with you that govern the affected Account(s), and all EFT deposits and payments are subject to later verification by you.

Foreign Transactions. Transactions that are initiated in foreign countries and foreign currencies will be charged to my Account in U.S. Dollars. The conversion rate to Dollars will be the wholesale market rate, or the government-mandated rate, whichever is applicable, in effect one (1) day prior to the processing date, increased by one percent (1%).

Payment Authorization. By using my Card with my PIN at ATMs, POS terminals or other electronic terminals operated by a participating institution, network system, or company (collectively “terminals”), I am authorizing you to process transactions to or from my Account(s) in accordance with the instructions provided at the terminals. Transactions conducted with my Card will be charged to my Account on the date it is posted to my Account. My Account will be immediately debited for the amount of any authorization received from a merchant. By providing you with the names and account information of those payees to whom I wish to direct payment through Bill Pay Online, I authorize you to debit my Account and remit funds on my behalf. All payees to be paid through Bill Pay Online will be paid in U.S. Dollars.

Available Transactions. I may use my Card and PIN for the following transfers:

Withdraw cash from my checking and in some instances, savings and line of credit Accounts at an ATM or POS terminal (and at financial institutions that accept VISA with my Visa Check Card);
Make deposits to my checking and savings Accounts at ATMs;
Transfer funds between my checking, savings and in some instances, loan Accounts at ATMs;
Pay for purchases at POS locations that have agreed to accept my Card.

I may use my Visa Check Card without my PIN to:

Purchase goods or services by mail or telephone from places that accept VISA cards;
Make automatic payments from my Account to pay bills or other charges, providing that the payee agrees to accept payments this way.

I understand that some of these services may not be available at all terminals.

I may use my PIN without my Card for the following transfers:

Transfer funds between my checking, savings and in some instances, loan Accounts through ARROW or MyPoint Credit Union Online;
Order a check made payable to me and drawn off of my checking, savings and in some instances, line of credit Accounts through ARROW or MyPoint Credit Union Online;
Pay bills from my checking and savings Accounts in the amounts and on the days that I request through Bill Pay Online.

I can sign up for your ACH services to:

Make deposits to savings and/or checking Accounts;
Make loan payments;
Pay bills or make other 3rd party transfers directly from my savings and/or checking Account in the amounts and on the days I request; and
Make transfers to and from my accounts at other financial institutions.

The payee named on my paper check may:

Convert my paper check to an ACH or other electronic funds transfer at the point of purchase;
Convert my returned paper check, as well as any fees that the payee charges for returned checks, to an ACH transaction. In the event that a paper check that I deposit is returned unpaid for insufficient or uncollected funds, you may present the check electronically. You will assess a returned item fee as disclosed in the “Schedule of Fees and Charges” and send me written notification.

Limitations on Transactions. Ninety days after account opening and my account is in good standing, I may make ATM cash withdrawals up to $500.00 ($100.00 during computer down time) or POS transactions up to $2,500.00 each 24-hour period as long as the available balance in my account is sufficient to cover the transaction. Withdrawals for the first 90 days after account opening are limited to $300 for ATM and $500 for POS within the each 24-hour period.

In addition:

I am limited to eight (8) ATM and POS withdrawals, in any combination, each 24-hour period.
My check withdrawals ordered through ARROW and MyPoint Credit Union Online must be made payable to me and are limited to $25,000 during any 24-hour period.
Purchases made with a VISA Check Card that are above the merchant’s floor limit will require an authorization number from VISA.
I understand that various institutions that participate in networks of which you are also a member may have withdrawal limits that are different from the amounts set forth herein. In the event that a specific ATM is so limited, I may not be able to withdraw more than the cash limit of that particular ATM.
I understand that my Card may only be used for LEGAL transactions. Some Internet transactions (e.g., Internet gambling) may be illegal in the jurisdiction in which I am located, including the United States. Display of a payment card logo by an online merchant does not mean that the transaction(s) is/are legal in the jurisdiction in which I am located.I understand that Bill Pay Online cannot be used to process any payments to Federal, State, or local tax agencies or to payees outside of the United States. In addition, each Bill Pay Online payee must appear on the payee list that I create and the account to which I am directing payment must be in my name.

Documentation of Transactions. I will be offered a receipt at the time I make a transfer at one of your ATMs and, if using a VISA Check Card, at a VISA merchant location. I will retain the receipt and compare it with my monthly statement. You will send me a monthly Account statement reflecting all of my EFT transactions, unless there is no EFT activity in a particular month, in which case you may send me a quarterly statement.

Preauthorized Payments. If I have told you in advance to make regular payments out of my Account and these payments vary in amount, the payee will tell me 10 days before each payment when it will be made and how much it will be. I 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 I set.

Preauthorized Credits. If I have arranged to have direct deposits made to my Account at least once every 60 days from the same person or company, I can call you at (858) 495-3400 or toll free (888) 495-3400 to find out whether or not the deposit has posted.

My Right to Stop Payment and Procedure for Doing So. If I have preauthorized regular debits to my Account, I can stop any of these payments by contacting the payee in time for the payee to receive my request three (3) business days or more before the payment is scheduled to post.

If I preauthorize you to make regular debits to my account, I can stop any of these payments by calling you at (858) 495-3400 or toll free (888) 495-3400, or by writing to you at 9420 Farnham Street, San Diego, CA, 92123-1321, in time for you to receive my request three (3) business days or more before the payment is scheduled to be made. If I call you, you will also require me to put my request in writing and send it to you within 14 days after I call. You will charge me a stop payment fee as disclosed in the Schedule of Fees and Charges for each stop payment order I give you. If I order you to stop a preauthorized transfer three (3) business days or more before the transfer is scheduled and you do not do so, you will be liable for my losses or damages.

Refusal to Honor Card. You are not liable for the refusal or inability of any electronic terminal to honor my Card or to complete a withdrawal from my Account, or for their retention of the Card. You are also not responsible for the refusal of any merchant or financial institution to honor the Card or for their retention of the Card.

My Liability as a Consumer. I must notify you AT ONCE in accordance with the procedures described herein if I believe my Card, PIN or password has been lost or stolen. I understand that I could lose all* the money in my Account, including my maximum overdraft line or credit. Telephoning you is the best way for me to minimize my potential losses. If I notify you within two (2) business days after I learn of the loss or theft of my Card, PIN or password, I can lose no more than $50.00* if someone used it (or them) without my permission. If I do NOT tell you within two (2) business days after I learn of the loss or theft, and you can prove that you could have stopped someone from using my card, PIN or password without my permission if I had told you, I could lose as much as $500.00*.

I must also notify you AT ONCE if my statement shows transactions that I did not make. If I do not tell you within 60 days after you mailed the statement to me, I may not get back any money I lost after the 60 days if you can prove that you could have stopped someone from taking the money if I had told you in time. If a good reason, such as a long trip or hospital stay, kept me from notifying you, you will extend the time periods. If I have authorized someone else to use my Card, PIN or password, I am responsible for all transactions that person initiates at any time, even if the amount or transactions exceed what I may have authorized.

* If my VISA Check Card was used to perform the unauthorized transaction, and the transaction was processed through the VISA system as a “credit” transaction, I will not be liable for any unauthorized amounts, except as outlined in the next paragraph.

To Report a Lost or Stolen Card. If I believe my Card, PIN or password has been lost or stolen, or if I suspect that someone has transferred or may transfer money from my Account without my permission, I will call you at (858) 495-3400, or toll free (888) 495-3400. In addition, if my VISA Check Card and/or PIN has been lost or stolen, I may notify you after business hours by calling (800) 234-5354. In any event, I may also write to you at 9420 Farnham Street, San Diego, CA 92123-1321. Depending upon the circumstances, you may require me to file a police report or an affidavit.

Your Liability as a Financial Institution. If you do not complete a transaction to or from my Account on time or in the correct amount in accordance with our agreement, you will generally be liable for my losses or damages. Instances in which you will NOT be liable include, but are not limited to:

Through no fault of yours, I do not have enough money in my Account to make the transaction;
The transaction would exceed the credit limit on my credit line;
The terminal where I was making the transaction did not have enough cash;
The ATM, phone lines or computer system was not working properly and I was aware of the malfunction when I started the transaction;
Circumstances beyond your control, such as fire, flood, power failure or computer down-time prevented the transaction, despite reasonable precautions that you have taken;
The money in my Account is subject to an uncollected funds hold, legal process or any other encumbrance or agreement restricting a transaction;
My Card has expired, is damaged so that the terminal cannot read the encoding strip, is inactive or because my PIN has been entered incorrectly;
My Card, PIN or password has been reported lost or stolen and you have blocked the Account;
The failure to complete the transaction is necessary to protect the integrity of the system or to protect the security of my Account;
The estimate of time to allow for delivery to the payee is inaccurate due to delays in mail delivery, change or merchant address or account number, the payee does not process a payment correctly, or the payee does not process payments in a timely manner.

In Case of Errors or Questions About My Transactions. I will telephone you at (858) 495-3400 or (888) 495-3400 (toll free), or write to you at 9420 Farnham Street, San Diego, CA 92123-1321 as soon as possible if I think my statement or receipt is wrong, or if I need information about a transaction listed on my statement or receipt. You must hear from me no later than 60 days after you send the FIRST statement on which the problem or error appears. When I inquire about transactions on my statement, I will:

Tell you my name and Account number, if applicable;
Describe the error or the transfer I am unsure about, explaining as clearly as possible why I believe it is an error or why I need more information;
Tell you the dollar amount of the suspected error.

If I tell you orally, you require that I send you my complaint or question in writing within ten (10) business days. If you do not receive it within ten (10) business days, you may elect not to credit my Account.

You will tell me the results of your investigations within ten (10) business days* after you hear from me and will correct any error promptly. If you need more time, however, you may take up to 45** days to investigate my complaint or question. If you decide to do this, you will credit my Account within ten (10)* business days for the amount I think is in error so that I will have use of the money during the time it takes for you to complete your investigation.

If the error I assert is an unauthorized Visa Check Card transaction that was processed as a “credit” transaction, you will credit my account within five (5) business days unless you determine that the circumstances or my Account history warrant a delay, in which case I will receive credit within ten (10) business days.

If you decide that there was no error, you will send me a written explanation within three (3) business days after you finish your investigation. I may ask for copies of the documents that you used in your investigation.

*If I give notice of an error within 30 days after I make the first deposit to my Account, you will have 20 business days instead of ten (10) business days.

**If I give notice of an error within 30 days after I make the first deposit to my Account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside the U.S. or its possessions and territories, you will have 90 days instead of 45 days to investigate.

Termination of Electronic Fund Transfer Services. I may terminate my EFTs and ACH instructions at any time. You reserve the right to terminate my EFT(s), ACH instructions and/or my use of my Card, PIN or password with or without cause. You may do so immediately if:
I or any authorized user of my Card, PIN, password or Account breaches this or any other agreement with you;
You have reason to believe that there has been, or might be, an unauthorized use of my Card, PIN, password or Account; or
I or any authorized user of my Card, PIN, password or Account request that you do so.

PINless” Debit Transactions.Effective July 1, 2008, VISA® implemented the option for you to use a non-Visa network with your Visa Check Card without entering your Personal Identification Number (PIN) for certain merchants. These transactions are referred to as PIN-less debit transactions and are considered non-Visa debit transactions. Merchants must provide you with a clear way of choosing to make a Visa debitor a PINless debit transaction through a non-Visa debit network if they support this option. A non-Visa or PINless debit transaction may occur on your Visa Check Card through the AFFN® and STAR® networks. Please be advised that you should choose to use VISA® when making a transaction with a PIN. Certain protections and rights applicable only to Visa Check Card transactions such as Visa’s zero liability or chargeback and dispute resolution benefits will not apply to transactions processed on the AFFN® and STAR® networks. Please refer to the section titled My Liability as a Consumer for provisions concerning non-Visa PINless transactions.