Plugged In Checking Account Disclosures
ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE
This Electronic Funds Transfer Agreement is the contract which covers your and our rights and responsibilities concerning the electronic funds transfer (“EFT”) services offered to you by Linn Area Credit Union (“Credit Union”). In this Agreement, the words “you” and “yours” mean those who sign the application or account card as applicants, joint owners, or any authorized users. The words “we,” “us,” and “our” mean the Credit Union. The word “account” means any one or more share and share draft accounts you have with the Credit Union. Electronic funds transfers are electronically initiated transfers of money from your account through the electronic funds transfer services described below. By signing an application or account card for EFT services, signing your Card, or using any service, each of you, jointly and severally, agree to the terms and conditions in this Agreement and any amendments for the EFT services offered.
1. EFT Services. If approved, you may conduct any one or more of the EFT services offered by the Credit Union.
a. Linn Area ATM. If approved, you may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, SHAZAM, Cirrus, all other Gateway networks to those two networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may use your Card to:
The following limitations on the frequency and amount of ATM transactions may apply:
Because of the servicing schedule and processing time required in ATM operations, there may be a delay between the time a deposit (either cash or check) is made and when it will be available for withdrawal.
b. SHAZAM Chek. You may use your Card to purchase goods and services from participating merchants. If you wish to pay for goods or services over the Internet, you may be required to provide card number security information before you will be permitted to complete the transaction. You agree that you will not use your Card for any transaction that is illegal under applicable federal, state, or local law. Funds to cover your Card purchases will be deducted from your share draft account.If the balance in your account is not sufficient to pay the transaction amount, the credit union will pay the amount and treat the transaction as a request to transfer funds from other deposit accounts, approved overdraft protection accounts or loan accounts that you have established with the Credit Union. If you initiate a transaction that overdraws your Account, you agree to make immediate payment of any overdrafts together with any service charges to the Credit Union. In the event of repeated overdrafts, the Credit Union may terminate all services under this Agreement. You may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, SHAZAM, Cirrus, all other Gateway networks to those two networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may also use your Card to:
The following limitations on the frequency and amount of SHAZAM Chek transactions may apply:
c. ART (Audio Response Teller). If we approve the ART (Audio Response Teller) for your accounts, a separate PIN (Personal Identification Number) will be assigned to you. You must use your PIN (Personal Identification Number) along with your account number to access your accounts. At the present time you may use the ART (Audio Response Teller) to:
Your accounts can be accessed under the ART (Audio Response Teller) via a touch tone telephone only. ART (Audio Response Teller) service will be available for your convenience twenty-four (24) hours per day. This service may be interrupted for a short time each day for data processing.
The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. All checks are payable to you as a primary member and will be mailed to your address of record. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The Credit Union may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction, and there may be limits on the duration of each telephone call.
d. Preauthorized EFTs.
e. Electronic Check Conversion/Electronic Returned Check Fees. If you pay for something with a check or share draft you may authorize your check or share draft to be converted to an electronic fund transfer. You may also authorize merchants to electronically debit your account for returned check fees. You are considered to have authorized these electronic funds transfers if you complete the transaction after being told (orally or by a notice posted or sent to you) that the transfer may be processed electronically or if you sign a written authorization.
f. HFS (Home Financial Services). If we approve the HFS (Home Financial Services) for your accounts, a separate PIN (Personal Identification Number) will be assigned to you. You must use your PIN (Personal Identification Number) along with your account number to access your accounts. At the present time, you may use the HFS (Home Financial Services) to: