ALLEGACY FEDERAL CREDIT
UNION
WebBanking™ AGREEMENT AND
DISCLOSURE
WebBanking™ is an online financial service offering a variety of content, products and services to Allegacy Federal Credit Union (“Credit Union”) members (consumers, sole proprietors, and other business customers). The Credit Union grants you a nonexclusive, limited, and revocable right to access and use this service. This WebBanking™Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the WebBanking™ service, including the credit union’s WebPayTM service. It also describes the rights and obligations of the Credit Union. Please read this Agreement carefully. By requesting and using these Services, you agree to comply with the terms and conditions of this Agreement.
The following definitions apply in this Agreement:
The Credit Union will provide instructions on how to use the
WebBanking™ service. You will gain access to your Online
Accounts through the use of your Internet-enabled device, your
ISP, your Password and your User ID. You may access your Online
Accounts 24 hours a day, seven (7) days a week. However,
availability of the Services may be suspended for brief periods
of time for purposes of maintenance, updating and revising the
software. The Credit Union may terminate, suspend, or limit
your access and use privileges to WebBanking™, in whole
or in part, at our sole discretion at any time without prior
notice.
For purposes of transactions, the Credit Union's business days are Monday through Friday, excluding holidays and weekends. Some Online Banking transaction requests (such as requests made via secure forms) received after 5:00 p.m. on business days and all transactions that are requested on Saturdays, Sundays, or holidays on which the Credit Union chooses to remain closed, will be processed on the Credit Union's next business day.
Account Access. If we approve on-line services for your accounts, you must designate a separate user password. You must use this password along with your User ID to access your accounts. WebBanking™ allows you access to several services including:
- Obtaining balances and transaction histories on deposit and loan accounts.
- Changing your password.
- Obtaining stock quotes.
Transfer of Funds. In addition to viewing
account information, you may use WebBanking™to conduct
the transfer of funds. You may make transfers among most
of your share accounts or you may transfer loan
payments.
NOTE: Because regulations require the Credit Union to
limit preauthorized transfers (including
WebBanking™transfers), the following limitations
apply:
Savings and Money Market Accounts: Transfers out of
your savings and money market accounts are limited to six (6)
per statement period using any combination of transfer made
using the service or by telephone, checks, point of sale
purchase or other preauthorized or automatic transfer services.
This transfer limit includes deductions from your account to
pay third parties, overdraft protection transfers and checks,
drafts or similar orders made by you if your account offers
these privileges. Federal law imposes these limits. Please
note: If there are not sufficient funds in the account, we
cannot complete the transfer.
Additional Services. New services may be introduced for WebBanking™from time to time. The Credit Union will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.
You agree not to disclose or otherwise make your password
available to anyone not authorized by you to sign on all of
your deposit accounts for withdrawals or all of your loan
accounts for advances.
Authorization.
If you do authorize any other individual(s) to have or use your
password, you understand that these person(s) may use the
WebBanking™Service to review all of your account
information and to perform transactions and that use of your
password will have the same effect as your signature as to the
authorization of all transactions, and that you are responsible
for any transactions they authorize or conduct on any of your
accounts.
If you believe your Password has been lost or stolen, please
use the Password change feature immediately within
WebBanking™to change your Password.
If you suspect any fraudulent activity on your account, call
the Credit Union immediately at (336) 774-3400 or 800-782-4670
between the hours of 7:30 a.m. to 5:00 p.m., Monday through
Thursday and 7:30 a.m. to 6:00 p.m. on Friday.
If you send the Credit Union an e-mail message, the Credit
Union will be deemed to have received it on the following
business day. You should not rely on e-mail if you need to
report an unauthorized transaction from one of your accounts or
if you need to stop a payment that is scheduled to
occur.
NOTE: E-mail transmissions outside of the WebBanking™ service are not secure. We advise you not to send us or ask for sensitive information such as account numbers, Password, account information, etc. via any general or public e-mail system. If you wish to contact us electronically, from WebBanking™, select the “Questions?” link, and click the “click here to send an email” link. Use this secure form to e-mail the Credit Union regarding inquiries about an electronic funds transfer error resolution, reporting unauthorized transactions, or contacting the Credit Union regarding other concerns of a confidential nature. You may also click on the “Chat” link to receive immediate and secure assistance during the business hours listed above.
Description of Service. All payments you make will be deducted from the checking account that you designate. Any payments you wish to make through this service must be payable in U.S. dollars to a payee located in the continental United States. We reserve the right to restrict types of payees to whom payments may be made using the service from time to time.
Payment Scheduling. Funds must be available in
your account on the scheduled payment date. If the date you
schedule a payment to be initiated falls on a non-business
day (Saturday, Sunday, or holiday), funds must be available
in your account the prior business day (e.g. Friday). After
funds are withdrawn from your account to make a payment, we
may make the payment either by transferring funds
electronically to the payee or by mailing the payee a
check.
You may choose to schedule payments to recur in the same amount at regular weekly, monthly, or semi-monthly intervals. Other frequency options are available.
Payments are automatically processed to be delivered on the date you specify which should be on or before the due date on your bill. For Automatic Clearing House (ACH) electronic payments, you should schedule the payment 2 business days in advance of the due date. However if the company or person that you are paying cannot accept an electronic payment, the service will send a check payments, you should schedule a check payment at least 4 business days before the bill due date. This will allow a paper check issued on your behalf to arrive at your payee on the bill due date. For either method of payment, you should be sure that your checking account is funded on the scheduled due date. If you do not follow these time frames, you will be fully responsible for all late fees, finance charges or other actions taken by the payee. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, the Credit Union will work with the payee on your behalf to reverse any late fees or charges up to $50.
No Duty to Monitor Payments. When the service
receives a payment instruction, you authorize the service to
debit your account and remit funds on your behalf so that the
funds arrive as close as reasonably possible to the scheduled
payment date designated by you. You also authorize the
service to credit your account for payments returned to the
service by the United States Postal Service or Payee, or
payments remitted to you on behalf of another authorized user
of the service.
The service will use its best efforts to make all your payments properly. However, the service shall incur no liability if the service is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances:
If your account does not have sufficient funds to make a payment as of the date the payment is debited from your account, the service will automatically block WebPay for three (3) business days; you can have WebPay access on the fourth (4th) day upon resolving the returned item. During this time, WebPay access is blocked and payments due to be sent during this time are cancelled. Fixed payments scheduled for future dates will not be affected. You are responsible to reschedule any cancelled payments if or when service is restored.In all cases, you are responsible for contacting the Credit Union at 336.774.3400 to either make alternate arrangements for the payment or reschedule the payment through the service. The Credit Union will attempt to notify you by e-mail or U.S. Postal Mail, but the Credit Union shall have no obligation or liability if it does not complete a payment because there are insufficient funds in your account to process a payment. The credit union can possibly have the account unblocked earlier upon resolving the returned item, unless the block is due to Insufficient Funds or Uncollected Funds. Contact Member Services at 336.774.3400 for research and assistance with blocked WebPay accounts.
Payment Methods. The service reserves the right to select the method in which to remit funds on your behalf to your payee. These payment methods may include, but may not be limited to, an electronic payment or a laser draft payment (funds remitted to the Payee are deducted from your account when the laser draft is presented for payment).
Cancel or Change Payment Instructions. You may cancel or change any scheduled payment (including recurring payments) by following the directions within the application. There is no charge for canceling or editing a scheduled payment. Once the service has begun processing a payment it cannot be cancelled or edited, therefore a stop payment request must be submitted.
No Signature Required. When any payment or other online service generates items to be charged to your account, you agree that we may debit your account without requiring your signature on the item, and without prior notice to you.
Stop Payment Requests. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee as set forth in the Fee Schedule. Stop payment orders whether oral, written, or electronic, will be in effect for a period of six (6) months. If requested by the Credit Union, you will confirm any stop payment order in writing. After six (6) months, any stop payment will terminate and must be renewed in order to continue in effect. The Credit Union may pay any item that is presented following the lapse of any stop payment order.
Exception Payments. It is not recommended you use the service to make payments to settle securities purchases, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited. In no event shall the service be liable for any claims or damages resulting from you scheduling these types of payments. The service has no obligation to research or resolve any claim resulting from an exception payment. All research and resolution for any misapplied, mis-posted or misdirected payments will be the sole responsibility of you and not of the service.
Prohibited Payments. Payments to Payees outside of the United States or its territories are prohibited through the service.
Bill Delivery and Presentment. This feature is
for the presentment of electronic bills only and it is your
sole responsibility to contact your Billers directly if you do
not receive your statements. In addition, if you elect to
activate one of the Service's electronic bill options, you also
agree to the following:
The Service is unable to update or change your personal
information such as, but not limited to, name, address, phone
numbers and e-mail addresses, with the electronic Biller.
Any changes will need to be made by contacting the Biller
directly. Additionally it is your responsibility to
maintain all usernames and passwords for all electronic Biller
sites. You also agree not to use someone else's
information to gain unauthorized access to another person's
bill. The Service may, at the request of the Biller,
provide to the Biller your e-mail address, service address, or
other data specifically requested by the Biller at the time of
activating the electronic bill for that Biller, for purposes of
the Biller informing you about Service and/or bill
information.
Upon activation of the electronic bill feature the Service
may notify the Biller of your request to receive electronic
billing information. The presentment of your first
electronic bill may vary from Biller to Biller and may take up
to sixty (60) days, depending on the billing cycle of each
Biller. Additionally, the ability to receive a paper copy
of your statement(s) is at the sole discretion of the
Biller. While your electronic bill feature is being
activated it is your responsibility to keep your accounts
current. Each electronic Biller reserves the right to
accept or deny your request to receive electronic
bills.
Your activation of the electronic bill feature for a Biller
shall be deemed by us to be your authorization for us to obtain
bill data from the Biller on your behalf. For some
Billers, you will be asked to provide us with your user name
and password for that Biller. By providing us with such
information, you authorize us to use the information to obtain
your bill data.
The Service will use its best efforts to present all of your
electronic bills promptly. In addition to notification
within the Service, the Service may send an e-mail notification
to the e-mail address listed for your account. It is your
sole responsibility to ensure that this information is
accurate. In the event you do not receive notification,
it is your responsibility to periodically logon to the Service
and check on the delivery of new electronic bills. The
time for notification may vary from Biller to Biller. You
are responsible for ensuring timely payment of all
bills.
The electronic Biller reserves the right to cancel the
presentment of electronic bills at any time. You may
cancel electronic bill presentment at any time. The
timeframe for cancellation of your electronic bill presentment
may vary from Biller to Biller. It may take up to sixty
(60) days, depending on the billing cycle of each Biller.
The Service will notify your electronic Biller(s) as to the
change in status of your account and it is your sole
responsibility to make arrangements for an alternative form of
bill delivery. The Service will not be responsible for
presenting any electronic bills that are already in process at
the time of cancellation.
You agree to hold the Service harmless should the Biller
fail to deliver your statement(s). You are responsible
for ensuring timely payment of all bills. Copies of
previously delivered bills must be requested from the Biller
directly.
The Service is not responsible for the accuracy of your electronic bill(s). The Service is only responsible for presenting the information we receive from the Biller. Any discrepancies or disputes regarding the accuracy of your electronic bill summary or detail must be addressed with the Biller directly.
This Agreement does not alter your liability or obligations that currently exist between you and your Billers.
Term. This Agreement will become effective on the
Effective Date and shall remain in full force and effect until
termination in accordance with the following
provisions.
Termination for Cause. We may immediately terminate
your WebBanking™ privileges (including the Bill Payment
Service) without notice to you if you do not comply with the
agreement governing your deposit or loan accounts or your
accounts are not maintained in good standing.
Termination for Non-Use. We may terminate your
WebBanking™privileges (including the Bill Payment
Service) without notice to you if you do not login to
WebBanking™during a consecutive five (5) month
period.
Termination for Convenience. To terminate this
Agreement, you may:
We will promptly notify you if we terminate this Agreement
or your use of the Services for any other reason.
If you are a business customer, this entire section does
not apply to you.
Applicability. These provisions are only
applicable to online electronic fund transfers that credit or
debit a consumer's checking, savings or other asset account and
are subject to the Federal Reserve Board's Regulation E (an
"EFT"). When applicable, the Credit Union may rely on any
exceptions to these provisions that are contained in Regulation
E. All terms that are not defined in this Agreement but which
are defined in Regulation E shall have the same meaning when
used in this section.
Your Liability. The following determines your
liability for any unauthorized EFT or any series of related
unauthorized EFTs:
If you notify the Credit Union within two (2) business days after your password was lost or stolen, your liability will not exceed $50.00 or the amount of the unauthorized EFTs that occur before notification, whichever is less.
If you fail to notify the Credit Union within two (2)
business days after your password was lost or stolen, your
liability will not exceed the lesser of $500.00 or the total
of:
You must report an unauthorized EFT that appears on your
periodic statement, no later than 60 days of transmittal of the
statement to avoid liability for subsequent transfers. Your
liability will not exceed the amount of the unauthorized EFTs
that occurred with the 60-day period. You may also be liable
for the amounts as described in sections 1 and 2
above.
If the report is made orally, we may require that you send
the complaint or question in writing within ten (10) business
days. We will notify you with the results of the investigation
within ten (10) business days and will correct any error
promptly. If more time is needed, however, we may take up to
forty-five (45) days to investigate a complaint or question. If
this occurs, we will credit your account within ten (10)
business days for the amount you think is in error. This will
allow you to use the money during the time it takes us to
complete our investigation. If your complaint or question is
not received in writing within ten (10) business days, we may
not credit your account until the investigation is completed.
If an alleged error involves an electronic fund transfer
outside a state or territory or possession of the United
States, the applicable time periods for action by us are twenty
(20) business days (instead of 10) and ninety (90) calendar
days (instead of 45). If we determine that no error occurred,
we will send you a written explanation within three (3)
business days after the investigation is complete. You may
request copies of the documents that were used in the
investigation.
You may notify the Credit Union by telephone or in
writing.
Telephone Numbers and Addresses. In case of errors or
questions regarding an WebBanking™transaction, call (336)
774-3400 or (800) 782-4670 or write us at: Allegacy Federal
Credit Union, Attn: Contact Center, P.O. Box 26043,
Winston-Salem, NC 27114-6043.
We must hear from you at the telephone number or address,
listed above, no later than 60 days after we sent you the FIRST
statement on which the problem or error appeared. We will
need:
Our Liability. This section explains our
liability to you only to the extent that any other agreements,
notices or disclosures have not separately disclosed our
liability. In no event shall we be liable to you for
failure to provide access to the WebBanking™ service.
Unless otherwise required by applicable law, we are only
responsible for performing the Online services as delineated in
this Agreement.
We will not be liable to you in the following instances:
IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD
PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES
RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.
Indemnification. You acknowledge and agree that you
are personally responsible for your conduct while using
WebBanking™ and agree to indemnify, defend and hold us,
our affiliate companies, directors, officers, employees and
agents harmless from and against any loss, damage, liability,
cost or expense of any kind, (including attorneys’ fees)
that we may incur in connection with a third party claim or
otherwise, in relation to your use of WebBanking™or your
violation of this Agreement or the rights of any third
party.
Third Parties. We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an internet browser provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), by an internet access provider, or by an online service provider, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an WebBanking™ account.
Virus Protection. The Credit Union is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware.
Credit Union Agreements. In addition to this
Agreement, you and the Credit Union agree to be bound by and
comply with the requirements of the agreements applicable to
each of your Online Accounts. Your use of the WebBanking™
service is your acknowledgment that you have received these
agreements and intend to be bound by them. You should review
other disclosures including the charges that may be imposed for
electronic funds transfers or the right to make transfers
listed in the fee schedules accompanying those disclosures and
the fee schedule contained in this Agreement. We will
automatically deduct the fees related to this Service from your
account(s).
Changes and Modifications. The Credit Union may
modify the terms and conditions applicable to the services from
time to time. We may send any notice to you via e-mail and you
will have to be deemed to have received it three days after it
is sent. The revised terms and conditions shall be effective at
the earliest date allowed by applicable law. We reserve the
right to terminate this Agreement and your use of the services
in whole or in part at any time without prior notice.
Site Links. The WebBanking™ site contains
links to other third party web sites. The Credit Union is not
responsible for, nor controls the content, products, or
services provided by linked sites. In addition, each third
party site may provide less security than the Credit Union and
have a privacy policy different than that of the Credit
Union.
Assignment. We may assign this Agreement to an
affiliate of the Credit Union or any successor in interest in
the event of a merger, reorganization, change of control,
acquisition or sale of all or substantially all assets of the
business to which this Agreement is related without the other
party's prior written consent.
Notices. Unless otherwise required by applicable law,
any notice or written communication given pursuant to this
Agreement may be sent to you electronically.
Disclosure of Information. We will only disclose information to third parties about your account or transfers you make under the following circumstances:
Governing Law. This Agreement is governed by the laws of the State of North Carolina and applicable federal law.