Online Banking & Bill Payment Agreement

IMPORTANT INFORMATION ABOUT THIS AGREEMENT:

You have ASKED TO receive required consumer disclosures in an electronic form.  Therefore, this agreement serves the following TWO purposes:

  • Obtain your affirmative consent to receive the required consumer disclosures in electronic form and provide you with a clear and conspicuous statement about your rights in regard to receiving electronic consumer disclosures as outlined in the ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-Sign), and;
  • Present you with the required consumer disclosures for the NWFCU Online Banking and Bill Payment Service.

CONSENT TO RECEIVE ELECTRONIC DISCLOSURE
By clicking the “I Agree” button below you are affirmatively consenting to receive the required disclosure in electronic form.

ELECTRONIC COMMUNICATIONS
NWFCU Online Banking and Bill Payment is an electronic internet based service. Therefore, you understand that this Agreement will be entered into electronically.

· You have the right to have this disclosure provided or made available on paper or in non-electronic form;

· You have the right to withdraw the consent to have the disclosure provided or made available in an electronic form with written notice to the credit union, but this will result in the termination of your NWFCU Online Banking and Bill Payment Service;

· The consent to receive electronic consumer disclosures applies to all future required consumer disclosures in connection with the NWFCU Online Banking and Bill Payment Service;

· You can update your electronic contact information by using the My Profile Quick Link function within the service or calling the Member Service number noted in this document;

· After clicking the “I Agree” button, you may request a paper copy of this consumer disclosure by calling the Member Service number noted in this document;

· You understand that to access and retain this disclosure and to use the NWFCU Online Banking and Bill Payment Service, you must have the following: a PC with an Internet browser that has “cookies” enabled and supports 128 bit encryption, an Internet connection for the PC, an e-mail address, and either a printer or sufficient electronic space to store this disclosure.

Electronic Contact Information

In order to keep you informed of changes to this disclosure, we must provide the new disclosure to you when changes are made. We will distribute the new disclosure to the electronic mail address you register with the NWFCU Online Banking and Bill Payment Service and post the disclosure in the NWFCU Online Banking site. In order to ensure timely notification of any changes, please notify us on a timely basis of a change in your electronic mail address.

Introduction

This Online Banking and Bill Payment Agreement (“Agreement”) is between Northwest Federal Credit Union and each member who has enrolled in our NWFCU Online Banking and Bill Payment Service, together with any person you have authorized to use or access NWFCU Online Banking and Bill Payment Service on your behalf.

The Northwest Federal Credit Union Online Banking and Bill Payment Service Agreement is the contract which covers your and our rights and responsibilities concerning the NWFCU Online Banking and Bill Payment Service offered to you by Northwest Federal Credit Union. The NWFCU Online Banking and Bill Payment Service permit you to electronically initiate account transactions involving your accounts and communicate with Northwest Federal Credit Union. In this agreement, the words “you”, “your” and “yours” mean those who request and use NWFCU Online Banking and Bill Payment Service, any joint owners of accounts accessed under this Agreement or any person authorized by you to use your NWFCU Online Banking and Bill Payment Service. The words “we”, “us”, and “our” mean Northwest Federal Credit Union. The word “account” means any one or more accounts you have with us. By using the NWFCU Online Banking and Bill Payment Service, each of you, jointly and severally, agree to the terms and conditions in this Agreement, and any amendments.

The terms of this Agreement are in addition to the terms of any share account agreements you have with us, including the Account Agreements and Disclosures, Signature Card, Schedule of Fees, Funds Availability Disclosure, and any change in terms notices. In the event of a conflict, the terms of this Agreement control.

SECTION I – SERVICE DESCRIPTION, FEATURES, FEES, AND LIMITATIONS

Availability

The NWFCU Online Banking and Bill Payment Service are generally accessible 24 hours a day, seven days a week. The NWFCU Online Banking and Bill Payment Service may be inaccessible for a reasonable period weekly to perform system maintenance. We reserve the right to suspend or terminate access to NWFCU Online Banking and Bill Payment Service for any reason without notice.

Business Day Definition Northwest Federal Credit Union’s business days are Monday through Friday from 8:00 AM to 4:30 PM EST, exclusive of holidays.

Online Banking Service

The Online Banking Service allows you to perform the following activities on eligible accounts:

· Review balance, activity and recent transactions.

· Transfer funds among eligible accounts.

· Request a withdrawal from eligible accounts by check mailed to you.

· Communicate with us via secure messages.

· Place a stop payment request on your checks.

· Submit a share account application.

· Submit a loan application.

You may make funds transfers to other accounts of yours using NWFCU Online Banking and Bill Payment Service. Your ability to transfer funds between certain accounts is limited by federal law, as stated in your Account Agreement. Under these regulations, preauthorized electronic funds transfers, online bill payments, and bill payments from a savings or money market account will be limited to a total of six (6) in any one month. Each funds transfer or payment through NWFCU Online Banking and Bill Payment Service from your savings or money market account, aside from loan payments to an NWFCU loan, is counted as one of the six limited transfers you are permitted each month. You may transfer or withdraw up to the available balance in the account up to the available balance in your account or up to the available credit limit on a line of credit at the time of the transfer, except as limited under this agreement, the Account Agreements and Disclosures and individual loan agreements. No transfer may be made from an account that requires two or more signatures.

We reserve the right to refuse any transaction that would draw upon insufficient or unavailable funds, lower an account below a required balance, exceed applicable transfer limitations or otherwise require us to increase our required reserve on the account.

Account Information
The account balance and transaction history information may be limited to recent account information involving your accounts. Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for ATM transaction and our Funds Availability Policy.

Email
We may not immediately receive email communications and secure messages you send and we will not take action based on email or secure message requests until we actually receive your message and have a reasonable opportunity to act. If you need to contact us immediately regarding an unauthorized transaction or stop payment request, you may call us 703-709-8901 or toll-free 866-709-8901.

Bill Payment Service
The bill payment service allows you to pay bills out of a designated account on a one-time or periodic basis to payees that you designate subject to the limitations described below.

Bill Payment Limits
There are no daily limits on bill pay transactions. External transfers in which NWFCU is either the receiving or originating financial institution are subject to limitations. You may not exceed $10,000 daily in outgoing transfers with a maximum of $30,000 in external outgoing transfers in a thirty (30) day period. You may not exceed $2,500 daily in incoming transfers with a maximum of $10,000 in incoming transfers in a thirty (30) day period. This is subject to change. During the first six months after a new membership account is opened incoming external transfers will not be available. We reserve the right to refuse any transaction that would draw upon insufficient or unavailable funds, lower an account below a required balance, exceed applicable transfer limitations or otherwise require us to increase our required reserve on the account.

Account Designation
When you sign up for the bill payment service you will need to designate a personal checking account with us as your bill payment account. You may authorize new payment instructions or edit previously authorized payment instructions for bill payments that are either periodic and nonrecurring (i.e. payments on merchant accounts that vary in account) or automatic and recurring (i.e. fixed monthly payments). You will need to provide us with the name and address of the payee (person you want to pay), your account number with the payee and any other information we require. We require this information in a reasonable period before any payment due date which we deem to be at least ten (10) days to allow us to properly debit your account with us and credit your account with the payee.

”Send On” Date vs. “Deliver By” Date for electronic payments When scheduling a bill payment, note the difference between the “SEND ON” date and the “DELIVER BY” date. The “SEND ON” date is the date we will attempt to deduct the payment amount from your designated account. If the attempted deduction fails because you did not have enough funds in your primary account, we will send you an email indicating this situation. If the second attempted deduction is not successful, the transaction will be cancelled and you will be responsible for rescheduling. If the second attempted deduction is successful, the payment will be processed and remitted to the payee, however the “DELIVER BY” date will be one business day later. If you receive an email because the first attempted deduction was not successful, you should access NWFCU Online Banking and Bill Payment Service to determine the date of the second deduction attempt.

If you schedule a payment with the “SEND ON” date as the current date, you must have adequate funds in your account at the time the payment is scheduled. The funds will be deducted shortly after you log out of the session. If you schedule a payment with the “SEND ON” date in the future, there must be adequate funds in your account when we attempt the deduction. This can occur anytime between 12:01 am and 4:00 pm EST.

The “DELIVER BY” date is the date that you can expect the payee to receive your payment. The “DELIVER BY” date for your payment should be no later than the due date the payee has indicated for the payment.

Paper Check Payments
If the payee/merchant is not set up for electronic payments, Bill Pay will generate a paper check for payment. The check will be printed with your personal information and account number and will clear directly through your bill payment account. The funds will be debited from your accounts at the time the check is presented for payment.

Payment Guarantee
If a properly scheduled electronic payment, scheduled at least ten (10) days in advance of the due date with all required and accurate information regarding your account and the payee, 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.

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. 1. The payment was scheduled to be delivered on or before the due date of your bill, excluding any grace periods.

  1. 2. The payment amount did not exceed $25,000.
  2. 3. The payment is being sent as an electronic check or ACH. Paper checks are not covered under the Payment Guarantee.
  3. 4. The payment was not made to an excluded payee:

· Payments to payees located in the Armed Forces Postal Codes, such as AE & AP

· Payments to settle securities transactions

· Payments to payoff special or delayed financing for purchases

· Payments to credit counseling agencies who pay creditors on your behalf

· Payments that failed due to insufficient funds or other reasons

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

· Designated by the Office of Foreign Asset Control as being a prohibited payee

· Payments to payees outside of the United States

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

  • Tax entities
  • Collection agencies
  1. 6. The information supplied by you is correct (payee name and address, your name and account number as it appears on the payee's records).
  2. 7. You had sufficient available funds in your account during our first deduction attempt on the “SEND ON” date.

We will only be responsible for the direct fees or finance charges associated with the late payment. We will not be responsible for any other consequential damages that might arise from the late payment. The direct fees or finance charges we are responsible for are limited to those charges or fees associated with the first $25,000.00 on payments greater than $25,000.00

If a payment to a prohibited payee is inadvertently processed, the payment guarantee outlined above does not apply to that payment, and we reserve the right to not process a payment to that payee in the future.

Cancelling Bill Payments
We may cancel a bill payment if we have reasonable belief that the payment is fraudulent. If we cancel a payment, we will attempt to contact you to inform you of this action.

You may cancel or edit an outstanding bill payment at anytime through NWFCU Online Banking and Bill Payment Service. Bill payments are considered outstanding until the “SEND ON” date. If your request is not entered in a timely manner, you will be responsible for the payment.

You can cancel a “Recurring” transaction by verbal or written instruction no later than 3 business days before the “SEND ON” date of the transaction by contacting Member Service at the address or phone number listed in this agreement. If you call, we may also require you to put your request in writing and provide it to us within fourteen days. The notice must detail whether the cancellation applies to only one of the recurring transactions, or all transactions in the recurring stream.

The stop payment terms found in the Account Agreement are not applicable for online transactions. If the payment you wish to stop is made by paper check and we have already paid the check, it is not possible to stop payment. If we have not already paid a paper check, it may be possible to stop payment. In these situations, you must comply with the stop payment terms found in the Account Agreement.

Internet Email Notifications
It is important to keep a current Internet email address on file with us, as we use this to communicate important security events about your account to you such as:

  • Password changes
  • User ID changes

· Internet email address changes (sent to old and new addresses)

  • Adding New Payees

Service Termination
We may terminate your participation in NWFCU Online Banking and Bill Payment Service for any reason, at anytime without notice or refund of fees you’ve paid. We will attempt to notify you in advance, but we are not obliged to do so.

You may not terminate your participation in NWFCU Online Banking and Bill Payment Service if you have outstanding bill payments scheduled. If you have no outstanding bill payments you can terminate service participation by notifying us in writing. Termination will be effective the first business day following receipt of your written notice. However, termination will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.

Fees
Refer to the Schedule of Fees for any charges for Online Banking and Bill Pay services. From time to time the charges may be changed. We will notify you of any changes as required by law.

Periodic Statements
Transfers, withdrawals and bill payments transacted through Online Banking and Bill Pay will be included on your periodic statement. You will receive a statement each month there are transactions on your account.

SECTION II – WARRANTIES AND RESPONSIBILITIES

MEMBER RESPONSIBILITIES AND WARRANTIES

Security You are responsible for keeping your User ID, password, and account data confidential. You agree not to disclose or otherwise make your password available to anyone not authorized to sign on your accounts. We are entitled to act on transaction instructions received through your User ID and password. If you authorize anyone to use your password, that authority shall continue until you specifically revoke such authority by notifying us in writing. Our call center personnel are entitled to act on instructions after they have properly authenticated the caller according to our internal procedures. If you fail to maintain the security of your PIN or password and we suffer a loss, we may terminate your NWFCU Online Banking and Bill Payment Service services immediately.

We may terminate the NWFCU Online Banking and Bill Payment Service services if we have reason to believe there has been unauthorized use of your account or password.

Joint Accounts If any of the accounts that you register under the NWFCU Online Banking and Bill Payment Service is a joint account, you confirm that your joint account holder has consented for you to use that accounts with the NWFCU Online Banking and Bill Payment Service. We will end your use of the NWFCU Online Banking and Bill Payment Service if any joint account holder notifies us that (i) they never consented to your use of the NWFCU Online Banking and Bill Payment Service, (ii) the joint account can no longer be operated on your instructions alone, or (iii) they are withdrawing consent for you to operate the joint account.

You are responsible for all transfers and bill payments you, and any other persons you authorized, conduct on any of your accounts.

General Warranties You warrant and represent that the information you are providing us with is true, correct and complete.

You agree not to impersonate any person or use a name that you are not authorized to use. You agree to promptly update your registration records if your e-mail address or other information changes.

You warrant that you will not use the NWFCU Online Banking and Bill Payment Service for any purpose that is unlawful or is not permitted, expressly or implicitly, by the terms of this Agreement or by any applicable law or regulation including but not limited to the Unlawful Internet Gambling Enforcement Act of 2006 (or UIGEA). You further warrant and represent that you will not use the Service in any manner that could damage, disable, overburden, or impair the NWFCU Online Banking and Bill Payment Service or interfere with any other party’s use and enjoyment of the NWFCU Online Banking and Bill Payment Service.

NORTHWEST FEDERAL CREDIT UNION’S RESPONSIBILITIES AND WARRANTIES

If we do not provide a bill payment instruction on time, if we cause an incorrect amount to be removed from an account or if we cause funds from an account to be transferred to any account other than the account or payee’s account specified in the applicable bill payment instruction, we shall be responsible for returning the improperly transferred funds and/or for directing any misdirected funds to the proper account or intended payee’s account.

We are liable for any losses and damages arising from our gross negligence or willful misconduct or if we breach a representation or warranty to you.

Limits of Northwest Federal Credit Union’s Responsibilities

EXCEPT AS EXPRESSLY SET FORTH ON OUR WEB SITE OR IN THIS AGREEMENT, WE DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS.

WE WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OF ANY KIND RESULTING FROM THE USE OF OR THE INABILITY TO USE THE NWFCU Online Banking and Bill Payment Service, INCLUDING DAMAGES FOR LOSS OF PROFITS, USE, DATA OR OTHER INTANGIBLES, EVEN IF WE HAD BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Privacy and Security

You can see a full description of our privacy and security policies by clicking on the “Privacy Policy” and “Security Policy” links on the help page for the NWFCU Online Banking and Bill Payment Service. As is more fully described in the “Security Policy” link, we have multiple levels of security that have been designed especially for us and all of your personal and financial information will be placed on a secure portion of our website. We do not use any persistent “cookies” on the browser to store any personal information.

As discussed in more detail in the “Privacy Policy” link, we will only disclose information to third parties about your account or the bill payments you make:

· Where it is necessary for completing bill payments, or

· In order to comply with government agency or court orders, or

· If you give us your written permission.

Changes in Terms and Notices
We reserve the right to change the terms and conditions upon which this service is offered. We may add, delete or amend terms, conditions and other provisions, fees, charges, or other terms described in this agreement. We will provide you notice as required by law at least thirty (30) days before the effective date of the change(s). Use of the NWFCU Online Banking and Bill Payment Service is subject to existing terms and regulations governing your accounts and any future changes to those terms and or regulations.

Assignment
We reserve the right to assign our rights and delegate our duties under this Agreement to a company affiliated with us or any other company.

Enforcement
You agree to be liable to use for any liability, loss or expense as provided in this Agreement that we incur as a result of any dispute involving your accounts or services. You authorize us to deduct any such liability, loss, or expense from your account without prior notice to you. In the event either party brings legal action to enforce the Agreement or collect any overdrawn funds on accounts accessed under this Agreement, the prevailing party shall be entitled, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions, if applicable.

The Agreement shall be governed by and construed in accordance with all applicable federal laws and all applicable substantive laws of the state of Virginia where you opened your accounts, and the Bylaws of the Credit Union as they now exist or may be hereafter amended. You understand that we must comply with these laws, regulations, and rules. You agree that if there is any inconsistency between the terms of the Agreement and any applicable law, regulation or rules, the terms of this Agreement will prevail to the extent any such law, regulation or rule may be modified by agreement between us.

SECTION III – ERRORS / CORRECTIONS / CLAIMS

Unauthorized Access/Transfers

Notify us AT ONCE if you believe your password has been lost or stolen or if you believe someone has scheduled payments or may schedule payments or otherwise use your account without your permission. Telephoning us at 703-709-8901 or toll-free 866-709-8901 promptly is the best way to protect yourself from possible losses.

If you never tell us, you could lose all of the money in your account (plus your maximum overdraft line of credit). However, if you tell us within two Business Days, 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.

Error Reporting Process

In case of errors or questions about the NWFCU Online Banking and Bill Payment Service, funds transfers or incorrect statements, write to us at PO Box 1229 Herndon, VA 20172-1229 or telephone us at 703-709-8901 or toll-free 866-709-8901. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

In your communication of the potential error or question,

· Tell us your name, and the account number of the Account to which the error relates.

· Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is in error or why you need more information.

· Tell us the dollar amount of the suspected error.

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 we committed an error within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question.

If we take the additional 45 days, we will adjust the applicable accounts within 10 Business Days for the amount you believe is in error, so that you or your intended recipient will have use of the money during the time it takes us to complete our investigation. If we ask you to put your question or complaint in writing and we do not receive it within 10 Business Days, we may not adjust the applicable accounts.

We will tell you the results within three Business Days after completing our investigation. If we decide that we did not make an error, we will send you a written explanation. You may ask for copies of the documents we used in our investigation.

We are not responsible for errors, delays and other problems caused by or resulting from the action or inaction of other financial institutions. Although we will try to assist you in resolving any such problems, you understand that any such errors, delays or other problems are the responsibility of the relevant financial institution or the intended recipient of funds. Any rights you may have against a financial institution for such errors, delays or other problems are subject to the terms of the agreements you have with such financial institution, including any time limits during which complaints must be made.