Electronic Fund Transfers

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Electronic Fund Transfers - 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.

Electronic Fund Transfers Initiated By Third Parties - You may authorize a third party to initiate electronic fund transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check or draft to an electronic fund transfer or to electronically pay a returned check or draft charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third-party transfers will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

  • Preauthorized Credits - You may make arrangements for certain direct deposits, such as U.S. Treasury (Social Security) or some employer (payroll) to be accepted into your Checking or Savings account(s).
  • Preauthorized Payments - You may make arrangements to pay certain recurring bills from your Checking or Savings account(s).
  • Electronic Check Or Draft Conversion - You may authorize a merchant or other payee to make a one-time electronic payment from your Checking or Savings account using information from your check or draft to pay for purchases or pay bills.
  • Electronic Returned Check Or Draft Charge - You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.

Touchtone Teller Telephone Transfers - Types Of Transfers - You may access your account by telephone 24 hours a day at 212.869.8977 using your Personal Identification Number, a touch-tone phone, and your account numbers, to:

  • transfer funds from Checking to Savings
  • transfer funds from Savings to Checking
  • transfer funds from Savings to Club (Holiday and/or Vacation)
  • transfer funds from Checking to Club (Holiday and/or Vacation)
  • make payments from Checking to Loan accounts with us
  • make payments from Savings to Loan accounts with us
  • check on Savings debit and credit activity for the past three (3) months (five transactions at a time)
  • check on Checking debit and credit activity for the past three (3) months (five transactions at a time)
  • make a Savings withdrawal (request a check)
  • make a Checking withdrawal (request a check)
  • get information about:
    • Checking account balance
    • Savings account balance
    • Club account balance
    • Certificate account balance
    • Loan balance
    • Check or Draft clearance

ActorCash ATM/VISA Debit Card Transfers - Cirrus, NYCE, and CO-OP Networks - Types Of Transfers And Dollar Limitations - You may access your account(s) by ATM using your ActorCash card or ActorCash VISA Debit Card and Personal Identification Number, to:

  • make deposits to Checking account with an ATM VISA Debit Card
  • make deposits to Savings account with an ATM VISA Debit Card
  • get cash withdrawals from Checking account with an ATM VISA Debit Card
  • you may withdraw no more than $600 per 24-hour period
  • get cash withdrawals from Savings account with an ATM VISA Debit Card
  • you may withdraw no more than $600 per 24-hour period
  • transfer funds from Checking to Savings account with an ATM VISA Debit Card
  • transfer funds from Savings to Checking account with an ATM VISA Debit Card
  • get information about:
    • the account balance of Checking account
    • the account balance of Savings account

Some of these services may not be available at all terminals.

Types of ActorCash ATM / Debit Card Transactions - You may access your Checking account to purchase goods (in person), pay for services (in person), and get cash from a merchant if the merchant permits (transactions using PIN may not exceed $1,000 in transactions per 24-hour period), or from a participating financial institution.

Debit Card Transactions - Dollar Limitations - Using your debit card:

  • you may not exceed $2,500 in transactions per 24-hour period

Types of ActorCash VISA Debit Card Point-Of-Sale Transactions - You may access your Checking account(s) to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), and do anything that a participating merchant will accept.

Substitute Checks and Your Rights -

What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use your original check.” You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

What are my rights regarding substitute checks? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You are also entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

How do I make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 212.869.8926, option 6, or mservices@actorsfcu.com. You must contact us within 40 calendar days of the date we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must include:

  • A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
  • An estimate of the amount of your loss;
  • An explanation of why the substitute check you received is insufficient to confirm you suffered a loss; and
  • A copy of the substitute check or the following information to help us identify the substitute check: the check number, the name of the person to whom you wrote the check, and the amount of the check.

Currency Conversion And International Transactions - When you use your VISA®-branded Debit Card at a merchant that settles in currency other than U.S. dollars, the charge will be converted into the U.S. dollar amount. The currency conversion rate used to determine the transaction amount in U.S. 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. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. VISA U.S.A. charges us a .8% International Service Assessment on all international transactions, regardless of whether there is a currency conversion. If there is a currency conversion, the International Service Assessment is 1% of the transaction. In either case, we pass this international transaction fee on to you. An international transaction is a transaction where the country of the merchant is outside the U.S.A.

Advisory Against Illegal Use - You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

Online Banking Computer Transfers - Types Of Transfers - You may access your account(s) by computer through the Internet access to actorsfcu.com and using your Personal Identification Number, to:

  • transfer funds from Checking to Savings
  • transfer funds from Checking to eMax$ Online
  • transfer funds from Savings to Checking
  • transfer funds from Checking or Savings to Club (Holiday and/or Vacation)
  • make payments from Checking to Loan account(s) with us
  • make payments from Checking to third parties (Bill Payment)
  • make payments from Savings to Loan account(s) with us
  • complete a Loan or Credit Card application
  • get information about:
    • the account balance of Checking account(s)
    • the account balance of Savings account(s)
    • the account balance of Club (Holiday and/or Vacation)
    • the past ninety (90) days history of Checking or Savings activity
    • the account balance of Loans or Certificates

Fees

  • We do not charge for direct deposits to any type of account.
  • We do not charge for preauthorized payments from any type of account.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator / Network Fees - When you use an ATM that is not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).


Documentation

  • Terminal Transfers - You can get a receipt at the time you make a transfer to or from your account using an Automated Teller Machine (ATM) or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.
  • Preauthorized Credits - If you have arranged to have direct deposit made to your account at least once every sixty (60) days from the same person or company, the person or company making the deposit will tell you every time they send us the money.
  • Preauthorized Credits - If you have arranged to have direct deposit made to your account at least once every sixty (60) days from the same person or company, you can call us at 212.869.8926 to find out whether or not the deposit has been made.
  • Periodic Statements - You will get a monthly account statement from us for your Checking account. You will get a quarterly account statement from us for your Savings account.

Preauthorized Payments

  • 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 agreement in time for us to receive your request at least three (3) business days (not including the day of transaction) or more before the payment is scheduled to be made. We require you to put your request in writing fourteen (14) days after you call. Please refer to our separate Fee Schedule for the amount we will charge you for each stop-payment order you request.
  • Notice Of Varying Amounts - If these regular payments vary in amount, the person you are going to pay will tell you, ten (10) days prior to payment date, 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 at least three (3) business days (not including the day of transaction) before the transfer is scheduled and we do not do so, we may be liable for your losses or damages.

Financial Institution 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 are not liable for damages. However, there are some exceptions. We will not be liable, for instance:

  • If, through no fault of ours, you do not have enough money in your account to make the transfer.
  • If you have an overdraft line and the transfer would go over the credit limit.
  • If the Automated Teller Machine where you are making the transfer does not have enough cash.
  • If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  • If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

There may be other exceptions stated in our agreement with you.


Unauthorized Transfers

(A). Consumer Liability -

  • General. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check or draft. 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 (2) business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your card and/or code, and we can prove 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. Also, if your statement shows transfers that you did not make, including those made by card, code, or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was delivered 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 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.
  • Additional Limit on Liability for ActorCash VISA Debit Card. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen ActorCash VISA Debit Card. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by VISA®.

(B) Contact In Event Of Unauthorized Transfer - If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this brochure. You should also call the number or write to the address listed in this agreement if you believe a transfer has been made using the information from your check or draft without your permission.


Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers - Call or write us at the telephone number or address listed in this agreement, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent, or made available to you, the FIRST statement on which the problem or error appeared.

  • Tell us your name and account number.
  • 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.
  • 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 determine whether an error occurred within ten (10) business days (five [5] business days for ActorCash VISA Debit Card point-of-sale transactions processed by VISA and twenty [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 forty-five (45) days (ninety [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 ten (10) business days (five [5] business days for ActorCash VISA Debit Card point-of-sale transactions processed by VISA and twenty [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 ten (10) business days, we may not credit your account. Your account is considered a new account for the first thirty (30) days after the first deposit is made, unless each account owner already has an established account with us before this account is opened. We will tell you the results within three (3) 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.

Actors Federal Credit Union, Member Services, 165 West 46th Street, New York, NY 10036-2508 - Phone: 212.869.8926

Business Days: Monday - Friday (Excluding Federal Holidays) - More detailed information is available on request.


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.

  • Prepare for your transactions at home (for instance, by filling out a deposit slip) to minimize your time at the ATM or night-deposit facility.
  • Mark each transaction in your account record, but not while at the ATM or night-deposit facility. Always save your ATM receipts. Do not leave them at the ATM or night-deposit facility because they may contain important account information.
  • Compare your records with the account statements you receive.
  • Do not lend your ATM card to anyone. Protect your ATM card as though it were cash.
  • Do not leave your card at the ATM. Do not leave any documents at a night-deposit facility.
  • If you lose your ATM card or if it is stolen, promptly notify us.
  • Protect the secrecy of your Personal Identification Number (PIN). Do not give anyone information regarding your ATM card or PIN over the telephone. Never enter your PIN in any ATM that does not look genuine, has been modified, has a suspicious device attached, or is operating in a suspicious manner. Do not write your PIN where it can be discovered. For example, do not keep a note of your PIN in your wallet or purse.
  • Prevent others from seeing you enter your PIN by using your body to shield their view.
  • Do not accept assistance from anyone you do not know when using an ATM or night-deposit facility.
  • When you make a transaction, be alert to your surroundings. Look out for suspicious activity near the ATM or night-deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkways) is well lit. Consider having someone accompany you when you use the facility, especially after sunset. Defer your transaction if circumstances cause you to be apprehensive for your safety.
  • If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, cancel the transaction, pocket your card, and leave. Consider using another ATM or return later.
  • Please be sure to close any entry door completely upon entering and exiting the ATM or night-depository facility. Do not permit any unknown persons to enter the facility after regular banking hours.
  • Do not display your cash; place withdrawn cash securely upon your person before exiting the ATM. Count the cash later when you are in the safety of your own car, home, or other secure surrounding.
  • At a drive-up facility, make sure all the car doors are locked and all of the windows are rolled up, except the driver's window. Keep the engine running and remain alert to your surroundings.
  • We want the ATM and night-deposit facility to be safe and convenient for you. The activity of the Automated Teller Machine facility may be recorded by a surveillance camera or cameras. Please tell us if you know of any problem with a facility. For instance, let us know if a light is not working or there is any damage to a facility. Call the police if emergency assistance is needed. Direct complaints concerning ATM facility security to us at the phone number listed in this agreement or the New York Banking Department Consumer Services Hotline at 1.877.BANK NYS (1.877.226.5697).
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