ELECTRONIC FUND TRANSFERS ACT DISCLOSURE SPECIFIC DISCLOSURE INFORMATION REQUIRED BY FEDERAL LAW
YOUR RIGHTS AND RESPONSIBILITIES
Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.
BUSINESS DAY DISCLOSURE Our business days are Monday through Friday, Holidays and weekends are not business days.
Preauthorized credits You may make arrangements for certain direct deposits to be accepted into your share draft or share savings account(s).
Preauthorized payments You may make arrangements to pay certain recurring bills from your share draft or share savings account(s).
Audio Response Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (404) 978-0089 using your personal identification number, a touch tone phone, your account number(s), and your social security number, to:
get information about:
ATM/POS/VISA Debit Card Transfers - types of transfers, dollar limitations, and charges - You may access your account(s) by ATM using your ATM/POS/VISA Debit Card and personal identification number.
There is no charge to use your card at any MFCU ATM or Presto Network. However, you will be charged $1.75 per item for withdrawals or inquiries performed at any ATM not owned by MFCU or Presto Network.
*Some of these services may not be available on all terminals.
Types of ATM/POS/VISA Debit Card Transactions - You may access your share draft account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.
VISA Debit Card Transactions - dollar limitations and charges - Using your VISA Debit Card: You may not exceed $1000.00 in transactions per business day.
When you use your VISA [Debit, Credit] Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a rate selected by VISA from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government-mandated rate in effect for the applicable central processing date, plus 1 percent of the transaction amount, which may be billed separately on your account or included in the transaction amount. This 1% adjustment is made for all international transactions regardless of whether there is a currency conversion associated with the transaction. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.
Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point of sale terminals.
Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (404) 978-0089 to find out whether or not the deposit has been made.
Periodic statements. You will get a monthly account statement from us for your share draft accounts. You will get a monthly account statement from us for your base share accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.
Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how: Call or write us at the telephone number or address listed in this document in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
We will charge you $32.00 for each stop payment order you give.
Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
FINANCIAL INSTITUTION’S LIABILITY
Liability for failure to make transfers. If we do not complete a transfer 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, for instance:
CONFIDENTIALITY – CIRCUMSTANCES IN WHICH WE MAY DISCLOSE ACCOUNT INFORMATION TO THIRD PARTIES
We will disclose information to third parties about your account or the transfers you make:
(a) Consumer liability. Tell us AT ONCE if you believe your card and/or code 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 2 business days, you can lose no more than $50.00 if someone used your card and/or code without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove that we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the 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.
(b) Contact us in the event of an unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission.
(c) Contact us in case of errors or questions about your electronic transfers.
You may call or contact us at:
MEMBERSFIRST CREDIT UNION
P.O. Box 33189
DECATUR, GEORGIA 30033-0189
Business Days: Monday through Friday, Excluding Federal Holidays
Phone: (404) 978-0080 or (800) 803-5611
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
ERROR RESOLUTION NOTICE
If you think your statement or receipt is wrong or if you need more information about a transfer listed on your statement or receipt, we must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. You may call or contact us at the telephone number or address listed under UNAUTHORIZED TRANSFERS.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) 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 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.
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.
NOTICE OF ATM/NIGHT DEPOSIT FACILITY USER PRECAUTIONS
As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility. For your own safety, be careful. The following suggestions may be helpful.
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