Online Banking & Transfers Outside of Scient Federal Credit Union Service Agreement & Electronic Disclosure

Online Banking and Transfers Outside Bank of America Service Agreement and Electronic Disclosure

Online Banking and Transfers Outside Bank of America Service Agreement and Electronic Disclosure

Effective: October 2012

 

Online Banking and Transfers Outside Bank of America Service Agreement and Electronic Disclosure

Effective Date: November 18, 2011

 

Please read the entire Agreement carefully before enrolling in the service or initiating any transactions.

 


 

Table of Contents:

1.  Scope of this Agreement

2.  Accepting the Agreement

3.  Governing Law and Relation to Other Agreements 

4.  Fees 

5.  Definitions 

6.  Featured Internet Banking Services 

7.  Requirements for Enrolling in the Service 

8.  Electronic Disclosures 

9.  Emails and Address Changes 

10. Privacy 

11. Internet Security 

12.  Enrollment Process 

13.  Account Balances:

14.  Bill Payment Service.

       A. Enrolling in the Service 

       B. Getting Started 

       C. Authorization to process a bill payment

       D. Limits on Bill Pays 

15.  Scheduling Bill Payments 

16. Canceling or Changing Bill Payments/Transfers 

17. Our liability for failure to Cancel or Stop the Payment

18. Other Features Available through the Service 

       A. Stop Payment Feature 

       B. Check Reorders, Address Change, Order Documents, Secure E-Mail & Secure File Delivery Services 

19. Reg E Disclosures 

       A. Errors or questions regarding EFT transactions 

       B. Consumer Liability for Unauthorized Transfers 

       C. Other Problems 

       D. Disclosure of Account Information to Third Parties 

       E. Our Liability for Failure to Complete Transactions 

       F. Payment Guarantee 

       G. Documentation And Verification Of Payments And Transfers 

20.  Termination/Inactivity 

21. Assignment

22. Ownership of Material

23. Amendments 

24. Transfers Outside of Scient Federal Credit Union

       A. What This Agreement Covers 

       B. Accepting the Agreement

C. Definitions

D. Enrollment and Approval of External Accounts

E. Fees

F. Processing of External Accounts

G. Transaction Limits

H. Editing and Canceling of External Transfers

I. Service Termination and Changes in Dollar Limits

J. Governing Law and Relation to other Agreement


1.  Scope of this Agreement

This Agreement between you and Scient Federal Credit Union governs your use of our online banking and bill pay Services (“Service”).   The Service permits our members to perform a number of banking functions on accounts linked to the Service through the use of a personal computer. Our online banking and bill pay services are intended for individuals 18 years of age or older.

 

2.  Accepting the Agreement

After you have carefully read this Agreement in its entirety and the linked Privacy Notice, you will be asked to consent to (accept) the terms and conditions of this Agreement. You should print and/or save a copy of this Agreement for your records.  You can use the print button on your browser to print this document.  You can also use your browser to save a copy of this document on your hard drive. If you need help printing or saving this document, or if you have any questions about this Agreement, please contact our member service department.  You can obtain a paper copy of this Agreement at any time. When you click on the “accept” button below, you agree to the terms and conditions of this Agreement.  By accepting below, you also certify that you are able and willing to accept the electronic version of this document and you understand that you can print a copy and/or save it to your hard drive. If you do not agree to the terms of this Agreement and/or do not accept the electronic version of this document, select the cancel button below.   You can still enroll for the Service at a later time in person.

 

3.  Governing Law and Relation to Other Agreements

Accounts and services provided by this financial institution may also be governed by separate agreements with you.  This Agreement supplements any other agreement(s) or disclosures related to your account (s) and provided to you separately.

 

4.  Fees

Online banking is available to our members at no monthly charge for all the account information services and transfers. Bill Pay is an optional service available only for checking accounts.  On the enrollment application, you must specifically request to have the Bill Pay service added. You can also request this service at any time after enrollment by contacting us (contact information listed below). This service is available at no monthly charge.

 

5.  Definitions

You or Your refers to the person(s) subscribing to or using the Service.

 

We, Us or Our refers to Scient Federal Credit Union and any agent, independent contractor, service provider, licensor, designee, or assignee Scient Federal Credit Union may involve in the provision of online banking.

 

Business Day refers to any calendar day other than Saturday, Sunday, or any holidays recognized by Scient Federal Credit Union.  Bill payments are processed on all business days that both the Federal Reserve Bank and the US Postal System are operating and open for business.  Account transfers are processed on all business days that the Federal Reserve is open for business.

 

Business Day Cutoff refers to the cut-off time for posting purposes.  Our cut-off time is based on our business days and the Eastern Standard Time Zone.  For posting purposes, we will process all transactions completed by 6:00 PM on that business date.  Transactions completed after 6:00 PM will be processed on the following business day. 

 

Consumer, Customer, Member refers to a natural person who has an Eligible Account at our Financial Institution with respect to which the Service is requested primarily for personal, family, or household purposes.

 

Electronic funds transfers (EFTs) refer to any transfer of funds initiated through the Service instructing, or authorizing us to debit or credit your consumer account.  EFTs do not include bill pays or debits, which are originated by check, draft, or similar paper instrument.  Bill Payments made electronically or via an EFT will be so designated within the Service.  If we authorize your account(s) for EFTs through the Service, you have certain rights and responsibilities under the EFT Act (Reg E) which are further detailed in section 20 of this Agreement.

 

Eligible Accounts. You must have an existing account with us to enable our online banking Service.  An eligible account means any one of your account(s) to which we may allow access via the Service under this Agreement. Only a share draft/checking account may be eligible for bill payment privileges. We may make additional accounts available for bill pay from time to time as allowed by law.

 

To be an Eligible Account for the Service, the account must be titled in your name either individually or jointly.  In addition, if you want to initiate bill payments or transfer requests from an Eligible account(s) through the Service, you will also need the required withdrawal authority over the account in order to complete the transaction.  If your account(s) require two signatures for withdrawal, we may only grant view privileges to your eligible accounts through the Service. When using the Service, you agree to maintain one or more eligible accounts with us and to keep sufficient balances in any account to cover any transaction and fees that are ultimately approved by or related to the Service. 

 

Joint Accounts. If the accounts added to the Service are jointly held or have multiple signers, you agree that access to the information and all transactions initiated by the use of your Access ID and Password are authorized unless we have been notified to cancel the Service.

 

Service Hours. You can use the Service seven days a week, 24 hours a day although some or all features may not be available occasionally due to emergencies or scheduled system maintenance.  In addition, access to the Service may be slower at times due to high Internet traffic or other factors beyond our control.  We are not responsible for any delays or difficulties you may have in accessing the Services or certain features. 

 

6.  Featured Internet Banking Services

Our Service will allow you to access your eligible accounts.  The following features are currently available. 

·       Up to 4 months of complete internet transactional detail and history

·       Account inquiries for balances, rates

·       Up to 12 months of account statements

·       Secure e-mails via the service’s messaging system

·       Secure file transfers

·       Payments to loans at this financial institution

·       Transfers between your accounts at this financial institution

·       Transaction downloads into Quicken® and Microsoft® Money

·       For bill payment users, you can make one-time payments or fixed recurring payments

 

We may add or remove certain features and/or functionality available from time to time. 

 

7.  Requirements for Enrolling in the Service

Prior to enrolling in the service and accepting the electronic version of this Agreement, you should verify that you have the required hardware and software necessary to access the service and to retain a copy of this Agreement.   You will need the following:

·       An eligible account with this financial institution

·       Internet access

·       A computer with a modem and Internet browser that can support SSL, 128-bit encryption. Microsoft Internet Explorer 7 or later, Firefox 3.0 or later, or Safari 5.0 or later or Chrome II or later should support this level of encryption 

·       Access to a printer and/or other storage medium such as a hard drive for downloading information or printing disclosures

·       An external email address

 

If we revise hardware and software requirements, we will notify you of these changes thirty days in advance and provide you an opportunity to cancel the Service and/or change your method of receiving disclosures (e.g. Change to paper format vs. an electronic format) without the imposition of any fees. 

 

Virus Protection:  You should routinely scan your PC using a reliable virus detection product.  Undetected or unrepaired viruses may corrupt and destroy your programs, files, and even your hardware.  Additionally, you may unintentionally transmit the virus to other computers.  You are solely responsible for the maintenance, installations, and operation of your computer.  This financial institution shall not be responsible for any errors, deletions, or failures that occur as a result of any malfunction of your computer or software, nor will we be responsible for any computer virus that affects your computer or software while using our Service. With your acceptance below and Your use of the Service, you agree that we shall not be liable for any indirect, incidental, or consequential costs, expenses, or damages (including lost savings or profit, lost data, business interruption, or attorney’s fees) resulting from any errors or failures from any malfunction of your computer or any virus or computer problems that you may encounter related to the use of the service.

 

8.  Electronic Disclosures

In the future, we may deliver other disclosures to you in an electronic format. Such disclosures may include: monthly account statements, deposit account disclosures, notices regarding changes in account terms and fees, and privacy notices.  The equipment necessary for accessing these types of disclosures electronically is described above in section 7. With your acceptance below, you agree to accept online banking related disclosures in an electronic format.  You also agree that you have the necessary equipment for accessing the service and for viewing electronic disclosures.  You may change the method of delivery at any time (e.g., from electronic format to paper format) by contacting us at: memberservices@scientfcu.org or (800) 525-5943 or (860) 445-1060. You can also request paper copies of documents through the service. Additional fees for paper copies may be imposed depending on the type of account you have and/or the reason and frequency of your requests for paper copies. 

You should print or save a copy of all disclosures delivered electronically.   

 

9.  Emails and Address Changes

When you enroll in the service, we may send you a “Welcome” email.  We will also send you emails and/or secure messages through the service regarding important online banking matters and/or changes to this Agreement.  We must maintain your current email address in order to deliver this information to you.  You can notify us of email address changes through the Member Services menu in our online banking service.  You can also contact us regarding such changes via telephone, in person, or handwritten letter.  You can send information to us at: 60 Colver Avenue, Groton, CT 06340. Or contact us at this phone number: (800) 525-5943 or (860) 445-1060.

 

10. Privacy 

We understand how important privacy is to our members.  We have taken steps to protect the privacy and security of your personal information as well as your financial transactions with us.   You should read our privacy notice before completing the enrollment process for the service.   Our customer privacy notice can be obtained by clicking on our privacy notice.

 

11. Internet Security  

The Service utilizes a comprehensive security strategy to protect your accounts and transactions conducted over the Internet. Prior to activating your access to the service, our member services department will verify your identity and authorization against information associated with the Eligible account (s) that you request to be tied to the service. 

 

Access IDs and Passwords. One of the main security features protecting the Service is the unique combination of your Access ID and Password.  During the enrollment process, you will be asked to select a unique Access ID, and then choose a Password that will be used to gain access to the Service.  You determine your own Password, which is encrypted in our database.  No one at this financial institution has access to this information.

 

Our Service also uses a program called a "Password cracker" that will help you select a good Password because your Password is used to access your accounts, you should treat it as you would any other sensitive personal data. You should carefully select a Password that is hard to guess. The Password cracker will encourage you to stay away from words based on your name, address or other personal information. All Passwords must have seven characters or more and have at least one upper case, one lower case, numbers and symbols.  The Service will provide helpful tips to help you select a good Password. Keep your Password safe. No Scient Federal Credit Union employee will contact you via telephone or via email requesting your Access ID or Password.  If you are contacted by anyone requesting this information, please contact us immediately.  Memorize your Password and do not write it down.  You should change your Password every 90 days.  This can be done at any time from the Account Maintenance menu after you log on to the Service.  If you disclose your Password to anyone, and/or if you allow them to use the Password to access your accounts, you are authorizing them to act on your behalf and you will be responsible for any use of the system by them (i. e., such as when you provide this information to a joint account holder and/or an aggregation service provider). By accepting the terms of this agreement you acknowledge your responsibility for protecting the confidentiality and security of your Access ID and Password and you agree to change it every 90 days. You agree that we are authorized to act on instructions received under your password and you understand that we will not be liable for any losses resulting from you permitting other persons to use your Access ID and Password to access the Service. 

 

Log-On Security. To help prevent unauthorized access to your accounts your online session will end if we detect no activity for fifteen minutes or up to sixty minutes if you update your settings. This is to protect you in case you accidentally leave your computer unattended after you logged on. When you return to your computer, you will be prompted to re-enter your Password, and your session will continue where you left off. In addition, we will disable your account after three unsuccessful login attempts.

 

Encryption. We ensure that the data that you view and transmit over the Internet is safe by using a Secure Socket Layer (SSL) connection from your browser to our servers. Once connected to our transaction web server, all information to or from our server is encrypted using 128-bit SSL encryption. An SSL connection prevents your information from being viewed or tampered with. A web browser supporting 128-bit SSL encryption is required to connect to our Internet banking servers. Most web browsers will give a visual indicating that an SSL connection has been established. The indicator is usually shown as a lock or a key in the status bar at the bottom of your browser window.

 

Cookies. A cookie is one, or more, pieces of information stored on your computer. When you visit websites you may be sent a cookie, and your browser stores it. The next time you visit, your browser provides the cookie back to that website.  Many websites use cookies, to gather information about how users use their website or to store preference settings. We use cookies to help prevent unauthorized access to Internet Banking. If you reject cookies, you may not be able to use the functions on our website. You can check your browser settings to see if you are configured to receive cookies. Many browsers can be configured to notify you when you are receiving cookies, or when you are rejecting cookies. In Internet Explorer, follow the Tools/Internet Options/Security menu. In Netscape, follow the Edit/Preferences/Advanced menu.

 

12.  Enrollment Process

You must complete the enrollment process to use the Service.  You can enroll via the Internet or you can enroll in any of our offices.  The online enrollment process involves completing a secure online application that will identify you and all the information that we will need to enable the Service.  You will choose your Access ID and Password during the enrollment process.  Once the information entered is verified against your account information held with Scient Federal Credit Union, you will automatically be enrolled in online banking.

 

13.  Account Balances

Balances shown in your accounts may include deposits subject to verification by us. The balance may also differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the cut-off time to be available for bill pay on the same business day.  Transfers will be processed within one business day of the completed transfer request if the request is made by 6:00 PM EST. The balances are updated periodically and the system will display the most current information. There may be situations that cause a delay in updating your balances. The system will use the most current balance available at the time of a transaction to base our approval for bill pays and account transfers.

 

14.  Bill Payment Service

A.     Enrolling in the Service. You can request access to our bill payment services during the enrollment process by clicking on the Pay Bills tab.  You may also enroll for bill payment services by contacting us at (800) 525-5943 or (860) 445-1060 or you can enroll in person at one of our offices. If you have previously enrolled for our online banking Services, you could also send us a secure email through the Service.

 

B.     Getting Started. In order to pay bills online, you will need to set up your payees by choosing from the database of vendors (payees) that already exist or you can schedule a payment by entering the necessary payment address information.  We will process all payments to payees that have a US Postal address. Due to liability issues, we will not accept payments to federal, state or local tax agencies or payments to settle securities transactions. Otherwise, there are no restrictions on whom you pay or how many payees you may establish.  The bill payment service will allow you to see a history of all the payments made from your accounts.

 

C.     Authorization to process a bill payment. When you schedule or edit a bill payment, you authorize this financial institution to withdraw the necessary funds from your account on the date you schedule the payment to be initiated. If you schedule a payment after the cut-off time and/or if the scheduled payment day falls on a holiday or non-business day, the bill payment will normally be charged to your account the following business day if there are sufficient funds in your account.

 

D.    Limits on Bill Pays. The available (collected) balance in your checking plus your overdraft limit (if applicable) will govern the daily dollar limit for all of your bill payments.  You can withdraw up to the system’s available balance as long as your account shows sufficient funds or you have sufficient availability in your overdraft line of credit to cover your payments.  If a bill payment results in an overdraft to your Eligible account, we may assess a per item overdraft charge pursuant to the most current fee schedule previously provided to you. If for any reason a scheduled payment processed through the Service is declined, it will automatically be rescheduled for the following business day. The Service will notify you of this action by sending you a "message" that will appear the next time you log on. The Service will continue to attempt to pay the bill on the following business day.  After the second failure, You must reschedule.

 

15.  Scheduling Bill Payments

Payments can be entered as a one time or recurring transaction.  Payments may be scheduled for the next business day or any date in the future at any time of day, but they will only be processed once a day before our cut-off time 8:00am EST on any business day. If you attempt to schedule a payment for that day after 8:00am EST, the system will notify you that you need to change the date to the next business day.  Anything scheduled on a non-business day, or after the cut-off time, will not be sent out until the following business day.  Payments that you make through the service are processed either electronically or by check.  In general, the system will attempt to tell you when you can expect the payment to be received by the payee. The estimated payment delivery time frame is typically shown on the check below the amount line.  Since we must forward the funds and billing information to the payee, some lead-time for payments is necessary.  Payments made electronically are generally received and credited by your Payee within two (2) business days. Payments made by check are generally received and credited by your Payee within five (5) business days. Our service assumes the payee/vendor will promptly process the payment on the business day it is received. Any delays caused by the payee/vendor would result in additional days before the payment would show on their records.  If the bill payment-processing agent or this financial institution has to send a paper check in the US Postal system, we typically suggest that you schedule the payment at least five (5) business days prior to the payee’s due date.  If the payee accepts electronic payments, we suggest that you schedule the payment at least three (3) days prior to the payee’s due date.  In all cases, the payment should be delivered to the payee/vendor and credited to your account at least by the tenth (10th) business day after the payment was approved and charged to your account.

By using this service, you authorize us, and any third-party payment-processing agent we may use, to choose whatever method we feel is the most effective method to process your transaction. The suggested time frames for scheduling payments generally will be determined by the way the payment is sent to the payee.

 

16. Canceling or Changing Bill Payments/Transfers

You cannot cancel a bill payment or transfer after it has been entered into the system and the information has been processed and/or transmitted to us; however, you can change a payment or transfer that is still “pending”. In some circumstances, we may be able to stop a bill payment that is issued by paper check.  You must notify this financial institution as soon as possible if you want to cancel such a payment.  We need sufficient time to notify the bill payment processor.  To stop a bill payment issued by check, notify us at: (800) 525-5943 or (860) 445-1060. Or you can send a us a secure e-mail within the service. If you request cancellation or stop payment on a bill payment issued by check, we may charge a stop payment fee.  See our current schedule for fees and charges for further information. However, there is an alternative, less expensive method for canceling or changing a pending transfer or bill payment that has not been submitted for processing.  To use this method, follow the procedures below: 

·       Log in and make edits to pending payments and/or transfers

·       Make your edits before our cut-off time 12:00am EST for any payments and transfers scheduled to be processed the next business day.  Up until that time, you may go into any pending payment and revise the amount or payment information 

·       Change the bill payment or transfer amount to $0.00

·       If you accidentally transfer funds, simply schedule another transfer to move funds to back to the original account

 

You can send us a secure email or call us for assistance at: (800) 525-5943 or (860) 445-1060. If you request our assistance, we must receive your request three business days or more before the transaction is scheduled for processing.  If you call, we may also require you to put your request in writing and get it to us within fourteen days after the call. 

 

17. Our liability for failure to Cancel or Stop the Payment

If you attempt to cancel a transfer or payment in accordance with the instructions in section 17 and we do not do so, we will be liable for your losses or damages.  However, in no event shall we be liable for damages in excess of your actual loss due to our failure to complete a transfer, and we will not be liable for any incidental, special or consequential damages

 

18. Other Features Available through the Service

A.     Stop Payment. The stop payment feature within the service should not be used to cancel transfers and bill payments. The stop payment feature within the Service is only for stopping payments on checks that you have written.  This feature is accessible through the “User Services” menu and it provides you a means to securely forward your stop payment requests to us via email for processing. There would typically be a stop payment fee associated with this service.  Please refer to our current schedule of fees and charges for additional information on fees and service charges associated with stop payments.  Additional terms of acceptance or disclosures may apply on the Stop Payment service and these disclosures will be made at the time you complete the request. 

 

B.     Check Reorders, Address Change, Order Documents, Secure E-Mail & Secure File Delivery Services. These services are also currently available.  The secure mail or secure file transfer features in our Service provide you a means to forward various types of service requests to us in a secure manner.  For example, you can reorder checks; change your address, and/or request delivery of certain documents.   There may be additional fees associated with some of these services, such as check reorders.  Generally, requests received through the secure mail feature of the Service will be processed within one to two business days using procedures that we would use to handle similar requests received by mail or fax.  For urgent requests, such as those for bill pay stop payments written by check, we recommend that you contact us directly by telephone, secure e-mail or in person.

 

19. Reg E Disclosures

The EFT Act, most commonly known as, Regulation E, provides consumers with certain rights and responsibilities with respect to EFTs initiated through our Internet Banking Service.   Please read the following EFT disclosures carefully.  You should print a copy of this information for future reference.

 

A.     Errors or questions regarding EFT transactions. In case of errors or questions about your electronic transfers contact us at (800) 825-5943 or (860) 445-1060, 60 Colver Avenue, Groton, CT 06340 or email us at memberservices@scientfcu.org. Initiate a payment inquiry through the secure e-mail within the Service.  Contact us as soon as you can if you think your statement or account history is wrong, or if you need more information concerning an EFT transaction in your statement and/or history.  We must hear from you no later than sixty days after we sent the FIRST statement on which the problem or error appeared. If you believe your Access ID or Password has been compromised, lost or stolen or that someone has transferred or may transfer money from your account without your permission, call us immediately via any of the methods noted above. Please include the following information in your notification:

·   Name

·   Account number and Access ID

·   Description of the error or the EFT transaction you are unsure about. Explain as clearly as you can why you believe it is an error or why you need more information

·   Tell us the amount of the error

 

For a bill payment error include:

·   The Scient Federal Credit Union account number used to pay the bill

·   Payee name

·   Date the payment was scheduled

·   Payment amount

·   Payee account number for the payment in question

·   Payee phone number

 

If you tell us orally, we may require that you send us your complaint or question in writing within ten business days. We will determine whether an error occurred within ten 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 days to investigate your complaint or question.  If we decide to do this, we will credit your account within ten business days 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. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to ninety days to investigate your complaint or question.  For new accounts, we may take up to twenty business days to credit your account for the amount you think is in error. 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.

 

B.     Consumer Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your Access ID or Password has been lost or stolen.  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, you could lose no more than $50 if someone used your Password without your permission. If you believe your Password has been compromised, lost or stolen and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone used your Password without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your Password and we can prove we could have stopped someone from using your Password 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, tell us at once.  If you do not tell us within sixty days after the statement was mailed to you, you may not get back any money you lost after the sixty days if we can prove that we could have stopped someone from taking 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.  If you believe your Password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write to us pursuant to section 20 Errors and Questions. Please remember that when you give someone your Access ID and Password, you are authorizing that person to use the Service and you are responsible for all transactions the person performs using the Service with your Access ID and Password.  All transactions that person performs even those transactions that you did not intend or want performed are authorized transactions.  If you notify us that the person is no longer authorized, then transactions that person performs after the time you notify us are considered unauthorized.  Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions.  For your protection, safeguard your Access ID and Password and sign-off after every online banking session.  A consumer has no liability for erroneous or fraudulent transfers initiated by an employee of a financial institution.

 

C.     Other Problems. If you believe an error, other than an EFT problem or unauthorized transaction has occurred you can contact us at: (800) 525-5943 or (860) 445-1060 or send an e-mail to memberservices@scientfcu.org. You can also report a problem through the secure e-mail within the Service.

 

D.     Disclosure of Account Information to Third Parties. We will disclose information to third parties about your account or the transfers you make:

·     Where it is necessary for completing transfers or

·     To verify the existence and condition of your account to a third party such as a credit bureau or merchant

·     To comply with a governmental agency or court order

·     If permission is given to us by you, which we may require in written form

·     It is necessary to assist us in the collection of information for internal use

·     It is necessary for the security purposes of our service providers, our servicing agents, and/or contractors providing our Internet Banking and electronic funds transfer service 

·     It involves a claim by or against us concerning a deposit to or withdrawal from your account.

 

Please refer to our privacy notice for additional detail on disclosure of account information.

 

E.     Our Liability for Failure to Complete Transactions. If we do not complete a transaction 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 if any of the following occurs:

·     If through no fault of ours, you do not have enough money in your account to make the bill payment or transfer

·     If the account has been closed

·      If the bill payment or transfer would go over the credit limit on your overdraft line of credit, or if the overdraft line of credit has been closed

·     If your computer, software, telecommunication lines were not working properly or were temporarily unavailable and this problem should have been apparent to you when you attempted the transfer or bill payment

·     If you had knowledge of or questions about the possible malfunction of our system when you initiated the transaction

·     If circumstances beyond our control such as (fire or flood) or other uncontrollable circumstances (mail delays, telecommunication outages, power failures, etc) prevent proper completion and delivery of transactions despite reasonable precautions that we have taken

·     If you provide incomplete or inaccurate information to us regarding the account or transaction

·     It can be shown that the merchant or payee received the payment within the normal delivery timeframe and failed to process the payment through no fault of this financial institution and/or our service providers

·     If your account has been tied up by legal proceedings (court order, garnishment) or other actions that prevent us from making a payment or transfer

·     Other applicable laws and/or regulations exempt us from liability

 

In no event shall we be liable for damages in excess of your actual loss due to our failure to complete a Timely Payment and we will not be liable for any incidental, special, or consequential damages.  There may be other exceptions stated in our deposit account agreements with you. We will be liable for damages, as specified below in part (f) where the system caused a bill payment delay or failed to process a bill payment by the tenth business day following the date your account was charged for the payment.

 

F.     Payment Guarantee

If a properly scheduled payment is not received and posted on time by the payee, we will attempt to have any late fees or assessed finance charges removed. (Finance charges are calculated based on your payment amount rather than your entire balance.) If the payee is unwilling or unable to remove them, we will pay the fees and finance charges directly to the payee. In addition, we will attempt to have your account noted appropriately to ensure that the situation does not negatively impact your credit rating. (NOTE: Please refer to your Electronic Funds Transfer Disclosure for important information on the limitations of reimbursable fees and finance charges.)

The Payment Guarantee applies to late fees and/or finance charges associated with the late posting of a payment, provided that the following conditions are met:

 

1.   The payment was scheduled to be delivered on or before the due date of your bill, excluding any grace periods. (The one exception to this guideline is that mortgage payments may be scheduled so that the payment is sent on or before the due date, excluding grace periods. For example, a mortgage payment due on July 1st, with a 15-day grace period, must have a “Send On” date no later than July 1st.

2.   The payment amount did not exceed $25,000.00.

3.   The payment was not made to an excluded payee:

a.      Payments that failed due to insufficient funds or other reasons

b.      Payments to payees located in the Armed Forces Postal Codes such as AE & AP

c.      Payments to settle securities transactions

d.      Payments to payoff special or delayed financing for purchases

e.      Payments to credit counseling agencies who pay creditors on your behalf

4.   The payment was not made to a prohibited payee. Payments to the following payees are not permitted through this service:

a.      Payments to payees outside of the United States

b.      Court-ordered payments such as alimony, child support, speeding tickets, etc.

c.      Tax entities

d.      Collection agencies

5.   The information supplied by you is correct (payee name and address, your name and account number as it appears on the payee's records).

 

G.     Documentation And Verification Of Payments And Transfers - Information regarding online banking transactions will be reflected in the account detail and account history sections of the service and in your regular monthly account statement(s). You can print a copy of online statements, but for certain accounts, our statement format may be wider than your browser’s default printer setting support and may not automatically print correctly or cut off the right-hand side of the page. Our "help" menu in the online banking service will explain how to change the browser’s printer settings to show the entire statement.  Additionally, many of our pages in the online banking service actually contain several areas of information. To print the section that you want, you may want to always click once in the area with the left mouse button to let the browser know which "frame" section you want to print. 

 

20.  Termination/Inactivity

At anytime, we may cancel all or part of the Services that we generally offer. Access to our Service may be canceled in whole or part without prior notice due to insufficient funds in one of your accounts or other circumstances that may create an unanticipated liability to us.  If your account(s) is closed or restricted for any reason, or if there has not been any online banking or bill payment activity for a period of 120 consecutive days, Internet Banking accessibility will automatically terminate. You will remain responsible for all transactions approved by the system prior to the cancellation, and for any other fees associated with the service. After cancellation, service may be reinstated once sufficient funds are available in your accounts to cover any fees and other pending transfers or debits. In order to reinstate services, you must call our member services department.

You may terminate the use of our Service by contacting us via US mail, e-mail, or personal delivery. If you terminate bill payment service, you authorize us to continue making payments and other previously authorized transactions until we have a reasonable opportunity to act upon your termination notice; you also agree to pay all applicable fees and charges.  Once we have acted on your notice, we have no further responsibility to make any payments or previously authorized transactions.

 

21. Assignment

You may not assign this agreement to any other party. We may assign or delegate, this agreement in part or whole, to any third party.

 

22. Ownership of Material

Unauthorized use or reproduction in whole or part is prohibited.  Scient Federal Credit Union and the Scient Federal Credit Union logo are the registered service marks of Scient Federal Credit Union.  Unauthorized use or reproduction in whole or part is prohibited. 

 

23. Amendments

We will provide notice of all future amendments to the Internet Banking Agreement by posting them on our website for at least thirty days. If the changes have an adverse affect on you or the services offered, we will provide you at least thirty days prior notice.  Amendments or changes to term(s) and/or condition(s) may be made without prior notice if it does NOT result in higher fees, more restrictive service use, disclosure of additional account information to third parties, or increased liability to you.  Also, if a change in term(s) or condition(s) is necessary to maintain or restore the security of our system or your account(s), no advance notice is required. Upon notification of any change in terms, if you do not agree with the change(s), you must notify us in writing or via email to cancel your access to the Service.  Your continued use of the affected change in Service constitutes your agreement to the amendment (s).

 

24. Transfers Outside of Scient Federal Credit Union

A.     Accepting the Agreement. When you accept these terms and conditions, you represent and warrant that you are an authorized user acting with full authority, and that you are duly authorized to execute this Agreement. When you click on the “accept” button below, you represent that you are the owner of the account (s) selected for the External Transfer service and/or that you have been authorized by the owner of the account(s) to enroll for this service.  Clicking on the “accept” button also indicates your acceptance of the terms and conditions of this Agreement in this electronic format. If you do not agree to the terms of this Agreement and/or do not accept the electronic version of this agreement, select the cancel button.

 

B.     Definitions

External Accounts - Accounts held by financial institutions other than Scient Federal Credit Union are referred to within this Agreement as “External Accounts”. 

 

External Transfer – refers to the transfer of funds between your deposit accounts at Scient Federal Credit Union and accounts held at other financial institutions (External Accounts).

 

Inbound Transfer – refers to a transfer of funds “to” your deposit account(s) at Scient Federal Credit Union from an External Account.

 

Outbound Transfer - refers to the transfer of funds “from” your deposit account(s) at Scient Federal Credit Union to an External Account.

 

Next-Day Transfers - Funds are debited and credited within 3 business days after you initiate the external transfer request.

 

Cut-off Time - The cut-off time for scheduling external transfers is 2:00pm EST. Any External Transfer request made after the Cut-Off Time will be initiated the next business day.

 

C.     Enrollment and Approval of External Accounts. You may enroll for the External Transfer feature within the Internet Banking Service.  As part of the enrollment process, you will need to request approval of each External Account that you wish to use for the External Transfer service. You agree that you will only attempt to register accounts for which you have the authority to transfer funds. 

 

D.     Fees for External Transfers

       Inbound Transfers: There is no fee for transferring funds into the credit union.

       Outbound Transfers: There is no fee for transferring funds from the credit union.

 

E.     Processing External Transfers.  We reserve the right to process any transaction as a Three (3) Business Day transfer. An External Transfer request remains in “processing” status until fully processed.  Transfers in “processing” status will appear in “Transfer History” within the Transfer Funds tab in the Service.  Three Business-Day Transfers typically remain in “processing” status until the close of the third business day after the transfer request is initiated.

 

F.     Transactional Limits. Transactional Dollar limits may be imposed for In-Bound and Out-bound Transfers.  These limits will be disclosed to you upon approval of your External Account(s). Any dollar limits imposed will apply to the total of all transfers to a specific External Account on any given day.  Any transfer initiated on a day that is not a business day, as defined within our Internet Banking Agreement, counts toward the applicable limit for the next business day.

 

G.     Editing or Canceling External Transfers. Pre-Scheduled External Transfer requests can be edited or canceled prior to our Cut-Off Time of 2:00pm EST on the scheduled processing date.  After our Cut-Off Time of 2:00 PM EST the External Transfer request is submitted to Scient Federal Credit Union and its service provider(s) for processing and we will not have sufficient time to respond to any cancellation requests.  

 

H.     Service Termination and Changes in Dollar Limits. You agree we may cancel your access to the External Transfer service, without prior notice, upon the occurrence of any of the following events, or any other event that creates an unanticipated liability for this Institution:  

·     Any of your accounts with Scient Federal Credit Union are not current or are not in good standing.

·     You have had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Scient Federal Credit Union account during the current or three prior calendar months.

·      You have had any prior External Transfer canceled, revoked, or uncompleted due to insufficient funds, revoked authorization, stopped payments, frozen accounts, or any similar reason.

 

Furthermore, we may change the dollar limits for External Transfers at any time.  Any decrease will be subject to notice, as required by law, but you agree that we may reduce your limits without prior notice upon occurrence of any of the events listed in this section of the Agreement.

I.       Governing Law and Relation to Other Agreements. Accounts and services provided by Scient Federal Credit Union may also be governed by separate agreements with you.  This Agreement supplements any other agreement(s) and/or disclosures related to your account(s) and provided to you separately.

 

This Agreement shall be governed by and construed in accordance with federal laws and the laws of the State of Connecticut, without regard to its conflicts of laws provisions.


 

Proceed with enrollment for The Service.  By clicking on the "Accept" button below you are acknowledging that you have read and agree to the terms and conditions of this Agreement and would like to proceed with online registration.  

 

(If you do not agree, choose cancel below.) If you click “I don’t accept” you can still enroll in our online banking service at a later time by completing an application in one of our offices.  You will still be asked to accept the Terms of this Agreement.