Website: www.greenwoodcu.org
Greenwood Credit Union
Terms, Conditions, and
Disclosures for Online Banking
Please read these terms, conditions, and disclosures before
applying for online banking with Greenwood Credit Union.
1. General. The terms, conditions,
and disclosures which appear below apply to Greenwood Credit Union's online
banking. If you apply for online banking, you agree that your use of online
banking will be governed by Greenwood Credit Union's membership agreement, the
policies and practices of Greenwood Credit Union, these Terms, Conditions, and
Disclosures for Online Banking, and any additional terms, conditions, or
disclosures that may be provided to you when your application is approved. In
these Terms, Conditions, and Disclosures for Online Banking
("Agreement"), the words "we," "us,"
"our," and "GCU" mean Greenwood Credit Union and its
successors and assigns. "You" and "your" mean each person
who is an owner of a deposit account at GCU for personal, family or household
purposes and who applies for online banking and each person who uses online
banking with your permission.
2. Requirements. To use online banking at
GCU, you must have an active account at GCU.
3. Services. Online banking means any
banking service obtained from GCU over the Internet. These services currently
include inquiries, transfers, bill payments, and certain other transactions.
a.
Inquiries. On your account you may:
·
find out a balance;
·
view recent account history,
recent transactions;
·
see what checks have cleared;
·
verify a deposit, including an
automatic deposit;
·
confirm recent withdrawals;
·
view check images;
·
view credit card transactions;
·
confirm debit-card
transactions;
·
view copies of statements; and
·
verify a loan payment.
b. Transfers. Also you may transfer
funds from:
·
checking to savings;
·
savings to checking;
·
checking or savings to loan,
mortgage, credit card, or overdraft line of credit;
·
line of credit to checking; or
·
you may create a new automatic
transfer.
c. Bill payments. With bill payments you
may:
·
pay a one-time or recurring
bill;
·
add a recurring bill;
·
delete a recurring bill; or
·
confirm information about your
recurring bills.
d. Other. Also, you may:
·
download recent account history
into personal-financial-management software like Microsoft Money, QuickBook or
Quicken;
·
change your password;
·
order checks;
·
Cross customer transfer; or
·
e-mail GCU in a secure
environment.
4. Computer equipment and software and GCU’s lack of
warranties regarding them. To use online banking, you will need a
personal computer, an Internet-access provider, and a browser such as Microsoft
Internet Explorer or Netscape Navigator. You will need your cookies and java
script enabled on your browser. You are responsible for any and all
telephone/data usage charges that may be assessed by your telephone company and
any and all service fees that may be imposed by your Internet-access provider.
FOR EQUIPMENT, HARDWARE, SOFTWARE OR YOUR INTERNET-ACCESS PROVIDER, GCU DOES
NOT MAKE ANY WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT
LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE.
We are not responsible for any loss, damage or injury, whether caused by your
equipment, your software or online banking. We will not be responsible for any
direct, indirect, special or consequential damages arising in any way out of
the installation, use or maintenance of your equipment, your software or online
banking, except where the law requires a different standard. You agree to be
bound by and to comply with any requirements in any user’s guide, instructional
manual, or other instructions which we may provide to you in connection with
online banking.
5. Electronic communication. "Electronic
communication" means a message transmitted over the Internet in a format
that allows visual text to be displayed on electronic equipment such as a
monitor to a personal computer. "Electronically" means by electronic
communication.
You agree to receive electronically this Agreement, any and all disclosures
required by federal and state law and regulation, and all other communications
from GCU. You also agree that we may respond electronically to your
communication to us, whether or not your original communication to us was an
electronic communication.
If a law requires you to receive written information about a transaction, you
agree that we electronically may provide you with that information.
·
You agree that we may send you
the information on paper, but you do not have the right or option to demand it
on paper.
·
You later may withdraw this
consent, but we may terminate this Agreement if you do.
·
Your consent applies to all
information that we may prefer to send electronically to you.
·
You may withdraw your consent
at any time or update us as to how to contact you electronically by sending us
an electronic communication or by calling or writing us. If you contact us
electronically, please refer to the paragraph below. If you call us, we may ask
you to confirm your information in writing.
·
You may request a paper copy of
an electronic record by calling or writing us. If you call us, we may ask you
to confirm your request in writing. We may charge a fee according to our normal-fee
policy for providing the paper copy.
·
You acknowledge that you have
read section 5 above and that you have the proper hardware and software to
receive electronic communication. By using online banking after signing this
Agreement, you confirm electronically your consent to receive electronic
records.
We will consider that you have received any electronic
communication three (3) calendar days after the day it was sent, whether or not
you used online banking within that time frame. To the extent permissible under
applicable law, any electronic communication that you send us will not be
effective until we receive it and have had a reasonable opportunity to act on
it. Therefore, we strongly suggest that for matters requiring immediate
attention (e.g., alleged unauthorized transfers), you call us during normal
business hours at 401-739-4600. We also may require you to provide us with
written confirmation of any oral or electronic communication.
Electronic communication that you send to us comes to us over the Internet. It
is not necessarily secure. Therefore, we will not send to you and we strongly
suggest that you not send to us over the Internet any confidential information
about your personal account (i.e., account number).
6. Changes to online banking. We may change or enhance
online banking from time to time. If we do, we will notify you when these
changes or enhancements are available. By using online banking when these
changes or enhancements become available, you agree that they will be governed
by this Agreement and by any other terms, conditions, and disclosures that we
may provide to you.
7. Overdrafts and uncollected funds. You agree not to overdraw your checking account, at least
not by an amount which exceeds the available balances in the accounts which may
be attached to your checking account to provide overdraft protection; namely,
savings and the overdraft line of credit, or Discretionary Overdraft Privilege
"ODP".
More specifically, you agree that your use of online banking, User ID, and your
password shall be subject to the overdraft provisions and the collected-funds
provisions of the membership agreement, to GCU's Funds-Availability Policies,
and to GCU's normal policies and practices for overdrafts and uncollected
funds.
If there are insufficient funds available in your checking account and in your
savings, "your overdraft line and ODP." GCU will not pay
your bills, however if the bill is paid electronically then FIS (GCU's Bill
Payment Service) will pay and send you a bill for the payment transaction." If
the payment is in check form then you will be responsible for paying them
through other means, which may include rescheduling them with bill payment.
If you are transferring money from your savings account to your checking
account, you agree not to attempt to transfer more money from your savings
account than is available.
8. Your obligations for password, account number, and account
security. You agree to keep your
password and User ID confidential, to refrain from disclosing your password and
User ID to any third party, and to refrain from recording or displaying your
password and User ID in such a manner that they will be accessible by third
parties. You agree that the use of the password and User ID by you, by any
other applicant, by any party to any of your accounts which may be accessed by
the password or User ID, by anyone you permit or authorize to use your password
or User ID, and by anyone to whom you disclose your password or User ID or to
whom you give access to your password or User ID shall be deemed an authorized
use for which you shall be liable. You will be responsible for reporting the
loss, theft, or compromise of your password or User ID to us as soon as
possible after the loss, theft, or compromise. For your security, in the event
that someone tries to access your account without knowing your password, the
system will lock out all access to your account after a third incorrect
password entry. In such event, you must contact GCU to have GCU reinstate your
access to online banking.
You also agree never to leave your computer unattended while using online
banking and always to exit online banking by clicking “Sign off” located in the lower left
portion of the screen.
9. Our commitments to your account security. We protect your account, your account number, and your
password in several ways:
·
Your password is selected by
you;
·
Your sign on ID for online
banking is selected by you;
·
Your 5 security question are
selected by you;
·
you can use online banking only
with a valid password and sign on ID;
·
you can access online banking
only with certain browsers with reasonable encryption security;
·
when you enter online banking,
your password is not displayed. It will appear as asterisks;
·
if an incorrect password is
entered three (3) consecutive times, your account is blocked and you must
contact GCU to reactivate online banking;
·
if your security questions are
answered incorrectly one (1) time your online account is blocked and you must
come into the credit union or notify us in writing to have the account
unlocked;
·
we automatically log off your
online banking session after prolonged inactivity; and
·
we limit the sizes of bills
paid to $9,999 and transfers to $10,000.
10. Stop payment. You acknowledge and agree
that you cannot stop payment on any transfer initiated through online banking.
You can place a stop payment under certain conditions on certain preauthorized
bills. Please see the disclosures below on your right to stop payment on
certain preauthorized payments.
11. Termination of online banking. You
agree that we may terminate this Agreement and your use of online banking at
any time for any reason without notification to you. If you close your account,
you agree to notify us if you are an active user of bill payment. You and any
other party to your account can terminate this Agreement and online banking by
notifying us in writing. Termination will be effective on the first-business
day following our receipt of your written notice. If you cancel bill payment
with us, all scheduled and unprocessed payments will be canceled. In such
event, you agree to be responsible for ensuring that your payee receives timely
payment by an alternate-payment method and we will not be responsible for any
late fees, finance charges, or other charges that you may incur if you fail to
do so. Except for pending transactions with bill payment that will be canceled,
termination of this Agreement or of online banking will not affect the rights
and obligations of the parties to this Agreement for transactions initiated
prior to termination. Notwithstanding your termination of this Agreement or of
online banking, you will remain responsible for any transactions initiated by
any person to whom you have furnished your User ID or your password.
12. Amendments to this Agreement. We
reserve the right to amend this Agreement and to change at any time the terms
and conditions governing online banking, subject to such notice as may be
required by applicable law. Where applicable law permits, you agree that we may
notify you electronically. Your use of online banking following receipt of any
such notice will constitute your acceptance of any such change. Your use of
online banking is subject to existing laws and regulations governing your
account and any future changes to those laws or regulations.
13. Enforcement and governing law. You
agree to be liable to us for any liability, loss or expense that we may incur
as a result of any dispute involving your account or your use of online banking.
You authorize us to deduct any such liability, loss or expense from your
account without prior notice to you. This agreement shall be governed by and
construed in accordance with all applicable federal laws and all applicable
substantive laws of the state of Rhode Island and by the bylaws of GCU as they
now exist or may be amended hereafter. You agree that if there is any
inconsistency between the terms of this Agreement and any applicable law,
regulation or rule, the terms of this Agreement will prevail to the extent that
any such law, regulation or rule may be modified by Agreement between us.
Electronic-Fund-Transfer
Disclosures
Regulation E Disclosure
1. Your liability for unauthorized payments and transfers and your
agreement to report them promptly. If you believe that your
password has been lost, stolen, or compromised, you should change your password
immediately, using online banking to do so.
Tell us AT ONCE if you believe that your password has been lost, stolen, or
compromised. Telephoning is the best way of keeping your possible losses down.
You could lose all the money in your checking account (plus all the money in
the accounts which may be attached to your account to provide overdraft
protection; namely, savings, the overdraft line of credit and ODP). If you tell
us within two (2) 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 (2) business days after you learn of the loss
or theft of your password and we can prove that 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 (60) days after the statement was sent to
you, you may not get back any money you lost after the sixty (60) 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.
2. Contact in event of unauthorized transfer. If you believe that your password has been lost, stolen,
compromised, or that someone has transferred or may transfer money from your
account without your permission, call us at 401-739-4600 or write us at the
following address.
Greenwood Credit Union
2669 Post Road
Warwick, Rhode Island 02886
Attention: Member service
3. Business days. For purposes of these
disclosures, our business days are Monday through Friday. Holidays are not
included.
4. Access and limitations.
a. Account access
With online
banking you may:
·
check balances,
·
transfer funds,
·
pay bills,
·
view images of cleared checks,
·
download information,
·
e-statements, and
·
e-mail us.
5. Bill payments. You may pay bills only
from your checking (funding) account. Online banking will allow you to set up
your own personal list of payees and pay one-time or recurring (e.g., monthly)
bills. You may not pay bills to government agencies, to courts, to payees
outside the continental United States, or to fraudulent businesses. We reserve
the right to refuse to pay any payee to whom you direct a payment. If we decide
to refuse to pay a payee, we will notify you promptly except in the case of
payments directed to governmental agencies, to courts, or to payees outside the
continental United States.
By providing online banking with the names and account information of those
persons or entities to whom you wish to direct payment, you authorize online
banking to follow the payment instructions that it receives from you. Online
banking will remit funds to the payee on your behalf so that the funds arrive
as close as reasonably possible to the payment-due date designated by you, and
then the funds will be debited from your account.
It is your responsibility to schedule your bill payments in such a manner that
your bills will be paid on time. Online banking will transmit your bill
payments by check or by electronic automated-clearing house ("ACH")
entry. When you initially set up each of your payees, you will be required to
supply the name, address and telephone number of" the payee. Online
banking will send the first payment by check unless the information is already
stored in the system. Then, where possible, online banking will pay
electronically by ACH entry. You will be able to determine if a payee is ready
to receive payments by ACH by referring to the "Payee" screen of
"Bill Payment.” If on the "Payee" screen under the column
labeled "Type" the word "Check" appears, then the payee is
paid by check. However, if on the "Payee Maintenance" screen under
the column labeled "Type" the word "Electronic" appears,
then the payee is paid electronically by ACH.
Because of circumstances beyond our control, particularly delays in handling
and posting payments by slow-responding companies or financial institutions
(payees), some transactions may take a day or even a few days longer to be
credited by your payee to your account with the payee. For that reason, you
must enter correctly the payment process date allowing reasonable time for
mailing if processed by check. You are responsible for any late-payment
charges, finance charges or other charges that may be assessed by your payee
for a late payment if you do not schedule correctly your payment. The system
will tell you an estimated deliver by date, you are responsible for paying
attention to this.
If a bill will be paid by check, the process date is the date that the check
will be written to the payee. If the bill will be paid electronically by ACH,
the process date is the date that the funds for the bill payment will be
withdrawn from your checking account. For a bill that will be paid by check, set
the process date five (5) business days before the payment-due date. For a bill
that will be paid electronically by ACH, set the process date three (3)
business days before the payment-due date. As a bill changes from being paid by
check to being paid electronically by ACH, change the process date from five
(5) to three (3) business days. Business days do not include the due date, the
current date, weekends, or holidays. You can verify the processing date for a
payment by referring to the "Payee" screen within "Bill
Payment."
To verify whether a payment is recurring or one-time, check the "Pending
Payments" screen within "Bill Payment." If the "Payment
Option" column says "Manual," then the payment is one-time. If
the "Payment Option" column says "Automatic," then the
payment will be made automatically each month in the same amount on the same
date." You are also responsible to review your monthly statement for
accuracy of any payments you have made.
6. Transfers. Government regulations
limit to six (6) per month the number of preauthorized transfers, telephone
transfers, and online-banking transfers from your GCU savings account. However,
online-banking transfers from your GCU savings account to pay GCU loans do not
count against this limit of six (6).
All transactions are subject to the rules and regulations of GCU.
7. Fees. By registering for online
banking you agree to pay GCU's online-banking and other fees and you authorize
GCU to charge your GCU checking account to pay for them.
On bill payment, GCU will charge you twenty five dollars ($25) for each stop
payment, twenty five dollars ($25) for each overdraft, and six dollars ($6) for
each copy of a canceled check.
8. Confidentiality. We will disclose to third
parties information about your account or about the transactions you make:
·
where it is necessary for
completing transfers or payments, or to resolve a problem related to a transfer
or payment;
·
in order to verify the
existence and condition of your account to a third party, such as a credit
bureau or merchant;
·
to our employees, auditors,
service providers, attorneys, or collection agencies in the course of their
duties;
·
in order to comply with
government-agency or court orders; and
·
if you give us your written
permission.
9. Documentation. GCU
will include on your monthly statement all payments and transfers made using
online banking. The same information will be available to you through online
banking.
10. Preauthorized
payments.
a. Right to stop
payment and procedure for doing so. If you have arranged to
have bills paid from your account by online banking, you can stop any of those
payments from being processed if you delete the manual payments or skip
recurring payments before the payment is processed, approximately 5:00 p.m.
Eastern time on the day before the process date. You can determine if the
payment has been processed by looking at the "My Payees" screen. If
the "History" column of the "My Payees" screen says
"Payment Sent," then the payment has been processed. If the payment
is not on the "Payment History" screen, then it should be on the
"Pending Payments" screen. If it is not, then online banking has no
record of the payment.
Additionally, you may stop payment by calling FIS customer service at
866-268-5093. FIS is the company that actually writes the check for your bills
paid with check.
You also may stop payment on a transaction by calling or writing us at the
telephone number and address listed in the section 10 below. However, because
no one but you has your password, no one but you can access your account. The
only way GCU can stop a payment for you is to close your online-banking
account. If you want GCU to stop a payment for you, GCU will do so, but GCU
will have to close your online-banking account.
If you create a stop payment in GCU’s online banking system, call or write GCU
to stop a payment, you must notify us in time for us to receive your request
three (3) business days or more before the process date. In addition, if you
call we also may require you to put your request in writing and get it to us
within fourteen (14) days after you call. For each stop payment that you order
by oral or written notification, GCU will impose the stop-payment fee listed
above and will close your account. However, GCU will impose no fee if you
delete or skip the bill payment or delete the payee yourself through online
banking before the process date.
Once the process date has passed for a bill payment, you may not stop a payment
if the payment is scheduled to be made by ACH. If the payment is scheduled to
be made by check, you may request a stop payment on the check if the check has
not cleared. You agree that any such request will not be effective until we
have had a reasonable time to act on it. GCU will impose GCU’s stop-payment fee
listed above for each stop payment that you order in accordance with this
paragraph. GCU might not deduct the fee from your checking account until two
months later.
1. Liability for failure to stop payment of preauthorized transfers. If you order us to stop one of these payments within the
time limits set forth above, and we do not do so, we will be liable for your
losses or damages.
11. GCU's liability. If we do not complete a
transfer or bill payment 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. For example, we will NOT be
liable:
·
if, through no fault of ours,
a) you do not have enough money in your account to complete a transaction, b)
your account is closed, or c) the transaction amount would exceed the balances
in your checking account, your savings account, and the limit on your overdraft
line of credit limit;
·
if you used the wrong access
code or you have not properly followed any applicable computer, Internet
access, or user instructions for making transfers and bill payments;
·
if your computer fails or
malfunctions or if online banking were not working properly and such problem
should have been apparent when you attempted your transaction;
·
if circumstances beyond our
control (such as fire, flood, telecommunication outages, organized labor
strikes, equipment or power failure) prevent making your transaction;
·
if the funds in your account
are subject to an administrative hold, legal process or other claim;
·
if you have not given us
complete, correct and current instructions so that we can process a transfer or
bill payment;
·
if the error was caused by a
system beyond our control, such as that of your Internet-access provider;
·
if you do not authorize a bill
payment soon enough for your payment to be made and properly credited by the
payee by the time it is due;
·
if we make a timely bill
payment but the payee nevertheless does not credit your payment promptly after
receipt;
·
if the payment exceeds the
daily limit;
·
if we reasonably believe that
someone is using your account without authorization; and
·
if there are other exceptions
that we establish from time to time.
12. In case of errors or questions about your electronic transactions.
Telephone us at (401) 739-4600 or write us at
Greenwood Credit Union
2669 Post Road
Warwick, Rhode Island 02886
Attention: Member service
As soon as you can, if you think that your statement or receipt is wrong or if
you need more information about a transfer or bill payment listed on the
statement or receipt. We must hear from you no later than sixty (60) days after
we sent you the FIRST statement on which the problem or error appeared.
1. Tell us your name and account number (if any).
2. Describe the error or the transfer you are unsure about, and
explain as clearly as you can why you believe it is an error or why you need
more information.
3. 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 ten (10) business days.
We will tell you the results of our investigation within ten (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 forty-five (45)** days to investigate
your complaint or question. If we decide to do this, we will credit your
account within ten (10)* business days for the amount that 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 (10) business days, we may not
credit your account.
If we decide that there was no error, we will send you a written explanation
within three (3) business days after we finish our investigation. You may ask
for copies of the documents that we used in our investigation.
* If you assert an error within thirty (30) days after you make the first
deposit to your account, we will have twenty (20) business days instead of ten
(10) business days.
** If you give notice of an error within thirty (30) days after you make the
first deposit to your account, or notice of an error involving a transaction
initiated outside the U.S., its possessions and territories, we will have
ninety (90) days instead of forty-five (45) days to investigate.