INTRODUCTION
Available 24 hours a day, 7 days a week except during scheduled or special maintenance periods or periods of technical difficulties. In most instances, interruption in service will be brief and occur during hours when the system is least used. An Online Help Facility has been designed to provide you with step-by-step instructions so that you may obtain quick answers to questions you may have. Member Service Representatives are also available to assist you during normal business hours should you have any other questions or problems.
The Direct Access Agreement and Disclosure (“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. You may want to print or otherwise save this document for future reference, or if you would like to receive a paper copy you may e-mail your request or call the Credit Union at 212-664-3970.
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 that has signed the enrollment application, and all other individuals that the account holder (s) may have given access.
By initiating inquires and/or transactions through Direct Access, or by permitting another to use Direct Access 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 Direct Access. You further agree to follow all instructions provided by Direct Access 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 the Credit Union, 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 Direct Access.
ACCESS TO DIRECT ACCESS
While the Credit Union will make all reasonable efforts to ensure availability, access to Direct Access may be unavailable at certain times. Reasons for system unavailability include: (1) Scheduled Maintenance – there will be periods when systems require maintenance or upgrades; (2) Unscheduled Maintenance – service may be unavailable when unforeseen maintenance is necessary; or (3) Systems Outages – major unforeseen events, including, but not limited to: power failure, computer breakdown, telephone line disruption, or natural disasters.
Direct Access (and Bill Payment) makes use of private networks, intended for authorized users only. While we have confidence in the security measures we employ, this is not an invitation for individuals to attempt unauthorized access. Any individual making such an attempt shall be aggressively pursued, identified, and prosecuted to the fullest extent of the law.
PERSONAL ACCESS CODE (PAC)
Upon your successful enrollment, you will be assigned an initial PAC. You are encouraged to choose a new PAC of your choice (5 to 10 keystrokes in length) when you first log onto Direct Access. For your protection, we recommend that you create a PAC that conforms to the following format: minimum of seven keystrokes that include at least two letters, two numbers, and one non-letter/number. To further safeguard your security, you should change your PAC frequently (i.e.: monthly). If you forget your PAC or Direct Access is disabled due to the use of an incorrect PAC, you must contact the Credit Union to regain access. We reserve the right to require written reapplication for a replacement PAC.
Using your PAC has the same effect as your signature does in authorizing transactions. You are responsible for keeping your PAC and account information confidential. You agree to safely keep your PAC, not to record your PAC on documents or records located on or around your personal computer, or otherwise disclose or make your PAC available to anyone other than authorized users of your accounts. If you fail to maintain security of your PAC and the Credit Union suffers a loss, we reserve the right to terminate your access to Direct Access, as well as to terminate all other Credit Union services. Anyone to whom you disclose your PAC and anyone who has access to your PAC will have full access to your account information, including 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 option.
AVAILABLE SERVICES
Once you have logged onto Direct Access (with your account number and your PAC) you may carry out the following functions:
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Inquires/History – Each time you inquire (or download) an account history, you will receive information on your choice of transactions for up to 90 calendar days. Based on the level of your transaction activity, it may be advisable to download account history more frequently if you wish to maintain all of your account information on your personal computer. (This option does not apply to your VISA account which you may access at www.myccinfo.com.)
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Transfers – You may initiate transfers between your various share and share draft accounts established under the same primary account number. You may also transfer into another member’s account if you have pre-designated the account when you first enrolled for Direct Access or anytime thereafter. (See Limitations below for restrictions.)
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Loan Payments – Each loan payment (“quick transfer”) initiated shall be applied first to interest owed then to principal. (This option is not available for your VISA account.)
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Cash Advances – Each transaction made from your line of credit (Overdraft Protection or Home Equity) is considered an advance and finance charges shall begin to accrue from the effective date of the advance, in accordance with the terms of your credit agreement. (This option is not available for your VISA account.)
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Withdrawals – If you perform a withdrawal using Direct Access, you are requesting a check disbursement of funds to you from one of your available accounts. The check will be made payable to the primary owner and will be mailed to the address reflected on your account records. Allow at least five (5) business days from the date you initiated the transaction to receive your check in the mail.
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Limitations – With the exception of the specific transactions listed below, there are no limits on the number or value of transactions you may initiate through Direct Access, provided funds are available in your account(s) or sufficient credit is available on your line of credit. You cannot initiate transactions into or out of Share Certificates, IRAs or Escrow accounts, nor may you initiate transactions out of Holiday Club accounts. Overdraft Protection is NOT automatically triggered to cover “insufficient funds” or “check hold” transactions. The Credit Union reserves the right to limit the frequency and dollar amount of transactions at any time for security reasons.
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Account Balance vs. Available Balance – Account balances may not necessarily equal available balances due to reasons such as check holds (on personal check deposits) or pledged shares. For additional information, refer to the Credit Union’s Funds Availability Policy.
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Other Online Requests – Direct Access includes secure OnLine Mail capabilities, allowing you to send electronic mail messages to the Credit Union. The Credit Union may not immediately receive and review OnLine Mail messages that you send and will NOT process any requests for transactions received via OnLine Mail. 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.
SCHEDULE OF FEES & CHARGES
Currently there is no fee for Direct Access or the bill payment option. However, the Credit Union reserves 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
The Credit Union will process transactions you initiated on the business day you instructed, provided we receive your instructions prior to 4:00 P.M. (E.S.T.). Transactions initiated after that time will be processed the next business day. Business days are Monday through Friday, excluding holidays.
RECORD OF TRANSACTIONS
Any and all transactions that are completed on Direct Access 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, or ATM). 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 the Credit Union AT ONCE. You may also obtain information on your account by use of Direct Access account history option.
YOUR LIABILITY FOR TRANSACTIONS
You are responsible for all transactions you initiate using Direct Access. You are also responsible for all transactions initiated by anyone else to which you may have given your PAC. You must notify the Credit Union AT ONCE if you believe that your PAC has been lost or stolen or if someone else has access your accounts. Telephoning is the best way of reducing your possible losses. We may be contacted at 212-664-3970, or you may write to us at 30 Rockefeller Plaza, Room 716 S, New York, NY 10112. You could lose all the funds in your account, plus any available credit on your line(s) of credit, if you fail to notify the Credit Union of possible unauthorized use. If you notify the Credit Union within two (2) business days after learning or suspecting that your PAC was lost, stolen, or used by someone without your permission, you can lose no more than $50.00. If you do NOT notify the Credit Union within two (2) business days after learning of the loss or theft of your PAC, and the Credit Union can prove that the unauthorized transaction could have been stopped or otherwise prevented, you could lose as much as $500.00.
In addition, if your statement shows transactions that you did not authorize, you must notify the Credit Union AT ONCE. If you fail to notify the Credit Union 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 the Credit Union can prove that the unauthorized transaction could have been prevented had you notified the Credit Union in time.
CREDIT UNION LIABILITY FOR FAILURE
TO COMPLETE TRANSACTIONS
If the Credit Union fails 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: (1) There are insufficient funds available in your account to complete the transaction through no fault of the Credit Union; (2) The transaction would exceed any permitted line of credit you may have; (3) 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 the Credit Union may have taken; or (4) You are in default on a Credit Union account. There may be other exceptions not specifically mentioned above. In any case, the Credit Union 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, the Credit Union shall have no liability whatsoever for failure to complete a transaction that you initiate or attempt to initiate through Direct Access under any of the following circumstances: (1) If you did not properly follow the instructions provided on how to initiate the transaction; (2) If you did not give the Credit Union complete, correct, or current instructions or information; (3) If your personal computer and/or software malfunctioned for any reason; (4) If the transaction could not be completed due to Direct Access unavailability; or (5) The transaction was blocked to protect the integrity or security of Direct Access.
ERROR RESOLUTION Contact the Credit Union IMMEDIATELY if you believe your statement is wrong or if you need more information about a transaction listed on your statement. The Credit Union 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 your name, account number, date and dollar amount of the suspected error, a description of 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 the Credit Union 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 the Credit Union has 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
The circumstances under which the Credit Union may provide information about your account to third parties are described in the Credit Union Privacy Policy, which has been previously provided to you. You may view this policy from our website (www.nbcnyefcu.org) or otherwise request to receive a paper copy by calling the Credit Union at 212-664-3970. 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 Direct Access, you authorize the Credit Union to obtain relative information from other third parties and grant the Credit Union the right to request a review of your credit rating at no expense to you.
TERMS OF AGREEMENT
The Credit Union 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 Direct Access login page. In the event that an immediate change in the terms and conditions is necessary for security reasons, the Credit Union may amend these terms and conditions without such prior notice.
Any use of Direct Access 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 the Credit Union prior to the effective date of the amendment or change and terminate your access to Direct Access.
Further, the Credit Union may, from time to time, revise or update the programs, service, and/or related contents, which may render all such prior versions obsolete. Consequently, the Credit Union reserves the right to terminate this Agreement and all such prior versions of Direct Access and/or related contents and limit access to Direct Access more recent versions and updates.
You may terminate this Agreement and your access to Direct Access at any time by notifying the Credit Union either orally or in writing. The Credit Union may terminate this Agreement and your access to Direct Access at any time by giving you advance notification, either orally or in writing. Whether you or the Credit Union terminates 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.
DISPUTES & CONFLICTS
In the event of a dispute regarding Direct Access, 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 the Credit Union which supersedes any proposal or prior agreement, oral or written, and any other communication between yourself and the Credit Union 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 the Credit Union 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.
GOVERNING LAWS
This Agreement is governed by the federal laws and regulations of the United States, the laws and regulations of the state of New York, bylaws and policies of the Credit Union, and regional clearinghouse rules. Any issue regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.
DIRECT ACCESS AGREEMENT & DISCLOSURE
ADDENDUM
BILL PAYMENT OPTION
INTRODUCTION
You may pay bills either on an automatic recurring basis or periodically as you request. Bill payment may only be accessed through your primary share draft account (suffix “0”).
To use bill payment, you must provide the Credit Union with the name and address of the individual or entity to whom you direct the payment to (the “Payee”), your account number with that Payee (the “Billing Account”), and any other information required to properly credit your Billing Account. You agree to allow the number of days required to process as indicated by the processing date for each bill payment. You also agree that your account will have a sufficient balance on the processing date to complete the transaction. If your account does not have sufficient available funds, the Credit Union will attempt to re-process the bill payment on the next two business days.
If your Billing Account or any other information changes, or if you wish to add or delete Payees, you must enter all such designations and changes in the appropriate fields through the bill payment application prior to the processing date. You authorize the Credit Union to make all changes submitted by you or any other person having access to your password and account information.
Bill payments are processed either through an electronic transmission to the Payee or by a check drawn from your account which will be mailed to the Payee. Payees who receive electronic delivery will receive your bill payment information, including your Billing Account, through a secure network. All Credit Union checks are sent through the U.S. mail. Payments made by check are generally received and credited by Payees within five to seven business days. If we receive payment instructions from a Payee that would assist in facilitating and expediting a bill payment to your Billing Account, we will change our payment process for that Payee.
SCHEDULE OF FEES & CHARGES
Currently there is no fee for the bill payment option. However, the Credit Union reserves 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 BILL PAYMENT
In order to ensure that your bill payment will be received by your requested due date (specified during bill payment set-up), sufficient funds must be available on the processing date. This is generally five business days prior to the due date. If the payment is made electronically, your account will be debited on the processing date. If your account does not have sufficient available funds, the Credit Union will attempt to process the transaction on the next two business days. The transaction is canceled after the third failed attempt and you must re-enter the transaction.
FAILED OR RETURNED BILL PAYMENTS
By using the bill payment option, you are requesting the Credit Union to make payments for you from your account. If we are unable to complete your transaction for any reason associated with your payment account (for example, there are insufficient funds in your account to cover the transaction), the transaction will not be completed. In such situation, you agree that: (1) You will immediately reimburse the Credit Union for the transaction amount that has been returned; (2) You will reimburse the Credit Union for any fees imposed by your financial institution as a result of the return; (3) You will reimburse the Credit Union for any fees incurred in attempting to collect the amount of the return from you; and (4) The Credit Union is authorized to report the facts concerning the return to any credit reporting agency. In using the bill payment option, you understand that Payees and/or the United States Post Office may return payments to the Credit Union for various reasons such as, but limited to, Payee’s forwarding address expired, Billing Account number is not valid, Payee is unable to locate account, or Payee account is paid in full. The Credit Union will use its best efforts to research and correct the returned payment and return it to your Payee, or void the payment and credit your account. We may charge bill payments against your account even though the charge creates an overdraft. You agree that a non-sufficient funds (NSF) fee will be charged in accordance with the Credit Union’s established and published service fees. Further, you also agree that a NSF fee may be charged to your account regardless if the bill payment is returned or not. If your account becomes overdrawn, you agree to immediately reimburse the Credit Union the overdrawn amount together with any applicable fees. If you have Overdraft Protection, any overdraft will be made in accordance with the agreement or rules governing that account rather than this Agreement. By enrolling for and using the bill payment option, you agree that we have the right to collect funds from all your accounts to recover funds for all payments that have been initiated by you. This includes accounts on which you are the primary owner, as well as accounts on which you may be a joint owner.
BILL PAYMENT LIMITATIONS, EXCEPTIONS, & PROHIBITED
Bill payments may be no less than $1.00, nor exceed $10,000.00. While you are able to make bill payments for alimony, child-support, taxes or other governmental fees, such payments through bill payment are strongly discouraged and must be scheduled AT YOUR OWN RISK. (Under no circumstances may the Credit Union be held liable for any claims for damages for such payments. All research and resolution for any misapplied, misposted, or misdirected payment will be the sole responsibility of yourself.) Bill payments may only be made to Payees with an address within the United States. We reserve the right to refuse to pay any Payee to whom you may direct a payment. The Credit Union will attempt to notify you promptly in this event. This notification is not required if you attempt an exception or prohibited bill payment as set forth above.
CANCELING A BILL PAYMENT
You may cancel or edit any bill payment (including recurring payments) by following the instructions within the bill payment application. However, once the transaction has been processed, the bill payment cannot be cancelled or edited, thus a stop payment request must be submitted.
OUR LIABILITY FOR FAILURE TO
PROCESS BILL PAYMENT TRANSACTIONS
We will use our best efforts to make all your bill payments according to your payment instructions. However, the Credit Union will incur no liability if we are unable to complete any bill payment initiated by you because of the existence of any one or more of the following circumstances: (1) If the bill payment would exceed the maximum permitted bill payment amount on your account balance, or your account has been closed, blocked for security reasons, or subject to legal process or other encumbrances restricting the transaction; (2) If the bill payment processing center is not operating properly, and you know or have been advised about the malfunction before you executed the transaction; (3) If the Payee mishandles or delays a bill payment sent by the Credit Union; (4) If you have not provided the Credit Union with the correct Billing Account information, or the correct name, address, phone number, or account information of the Payee; (5) If 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 the Credit Union may have taken; (6) You are in default on a Credit Union account; (7) If you did not properly follow the instructions provided on how to initiate the transaction; (8) If your personal computer and/or software malfunctioned for any reason; (9) If the transaction could not be completed due to Direct Access unavailability; or (10) The transaction was blocked to protect the integrity or security of Direct Access.
Provided none of the foregoing exceptions to the service performance obligations is applicable, if the bill payment or Direct Access service cause an incorrect amount of funds to be removed from your account, we shall be responsible for returning the improper transaction to your account. If the bill payment or Direct Access causes funds from your account to be directed to an incorrect Payee, you agree to help us recover funds directly from the incorrect Payee. We will make every effort to direct to the proper recipient any previously misdirected bill payment.
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After reading the disclosure form above, you may click on the “I agree to the above terms and conditions” button to proceed with the enrollment. Print the enrollment application form (Adobe Acrobat file), fill it out completely, and mail it to the Credit Union.
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