ELECTRONIC FUNDS TRANSFERS (EFTS) AGREEMENT

(R. 11/06)

This agreement is designed to give you information concerning your automated teller machine card, VISA Check Card (PIN Transactions Only) and Internet branch transactions which are considered to be Electronic Funds Transfers (EFTS).  Please take time to read it carefully.  If you have questions, please contact our Member Services Department at (703) 730-1800.

In this agreement the words WE, US, and OUR mean this credit union.  CARD means the automated teller machine (ATM) card, including the Personal Identification Number (PIN) and any duplicates and renewals we issue to you.  YOU and YOUR mean each and all who are issued a card, or anyone to whom you knowingly and willingly give your card.  ACCOUNT means any account which you are able to access with your card.  TRANSACTION means a deposit, payment, withdrawal, advance, transfer, or inquiry initiated by your card.

Your use of your ATM card, VISA Check Card (pin transactions only), the Internet branch or the Internet Bill Pay indicates that you understand and agree to be bound by this agreement.

TYPES OF ACCOUNTS THAT YOU MAY ACCESS USING YOUR ATM OR VISA CHECK CARD (PIN TRANSACTIONS ONLY)

1. Your Share Savings  Account
2. Your Share Draft Checking  Account
3. Your Line of Credit Loan  Account

TYPES OF ACCOUNTS THAT YOU MAY ACCESS USING THE INTERNET BRANCH

1. Your Share Savings  Account
2. Your Share Draft Checking  Account
3. Your Club  Account
4. Your Share Money Market  Account
5. Your Line of Credit Loan  Account
6. Your Home Equity Line of Credit Loan  Account

You may obtain a summary of any account type that currently appears under your account number.

YOU MAY ACCESS THE INTERNET BILL PAY THROUGH YOUR SHARE DRAFT ACCOUNT ONLY.

TYPES OF TRANSACTIONS YOU MAY PERFORM USING YOUR ATM OR VISA CHECK CARD (PIN TRANSACTIONS ONLY)

1. Cash Withdrawals  
   You may obtain cash withdrawals from your Share Savings and Share Draft Checking.
2. Cash Loan Advances 
   You may obtain a cash advance from your pre-approved Line Of Credit Loan Account
3. Transfers Between Accounts 
   You may transfer funds between your Share Savings, Share Draft Checking, and Line of Credit Loan accounts (Home Equity not included).
4. Balance Inquiries 
   You may check the balance of your account, if the automated teller machine is “on-line”.
   If the automated teller machine is “off-line”, it cannot give you account balance information.
   Generally, the automated teller machine will indicate when it is “off-line” by telling you that you have selected an “invalid transaction”.
5. Deposits 
   If the automated teller machine is owned and operated by the Belvoir Federal Credit Union, you may make a deposit by cash, check or money order, to your Share Savings and Share Draft Checking accounts.  Coin deposits are not permitted at an automated teller machine
6. Loan Payments 
   If the automated teller machine is owned and operated by the Belvoir Federal Credit Union, you may deposit a payment by cash, check or money order, to your loan accounts by selecting the transaction “payment enclosed”.  It is necessary to indicate on the envelope to which account the payment is to apply.  If not indicated, it will be posted to your Share Savings Account.
7. Obtain Travelers Checks 
   You may obtain travelers checks at any American Express Travelers Check machine.  To do so, you will perform a withdrawal from your Share Savings or Share Draft Checking account, or an advance from your Line Of Credit account.

The ability to conduct any of the transactions listed above, at a foreign ATM, in paragraphs A, B, C, D, E, F or G may be limited by restrictions placed on the ATM machine by its owner.

TYPES OF TRANSACTIONS YOU MAY PERFORM USING THE INTERNET BRANCH

1. Transfers Between Accounts 
   You may transfer funds between your Share Savings, Share Draft Checking, Share Money Market, Share Club, Line of Credit Loan accounts and Home Equity. The Internet Branch may not be available when we are off-line.
2. Balance Inquiries 
   You may check the balance of your account.  The Internet Branch may not be available when we are off-line.
3. Loan Payments

You may make loan payments by transferring funds from your Share Savings, Share Draft Checking, Share Money Market and Share Club Account to the requested loan. The Internet Branch may not be available when we are off-line.

TYPES OF TRANSACTIONS YOU MAY NOT PERFORM USING THE INTERNET BRANCH

You are NOT able to transfer from:

1. IRA accounts
2. Certificate of Deposit Accounts

You are NOT able to transfer to:

1. IRA accounts
2. Certificate of Deposit Accounts

LIMITATIONS FOR ALL FORMS OF ELECTRONIC TRANSFER

For share savings, share club and share money market accounts, if applicable, you may make up to six (6) pre-authorized, automatic, telephonic, audio response, internet or internet bill pay transfers to another account of yours or to a third party during any calendar month.  Of these six, you may make no more than three (3) transfers to a third party by check or debit card.  A pre-authorized transfer includes any arrangement with us to pay a third party from your account upon oral or written orders including orders received through the automated clearing house (ACH).  You may make unlimited transfers to any Credit Union loan account owned by you.  You may also make an unlimited number of transfers when conducted in person, by mail, or at an ATM.  However, we may refuse or reverse a transfer that exceeds these limitations and may assess fees against, suspend or close your account.

INTERNET BRANCH TRANSACTION LIMITATIONS

1. If your account is delinquent, we may deny Internet Branch access
2. If you HAVE NOT used the Internet Branch for a period of 6 months, your access will be placed on the inactive list.
3. You MAY NOT, at any time, bring your Share Savings Account below $ 25.00.  This will result in a $ 27.00 NSF fee and refusal of any transaction until such time as the account balance is brought back up the $ 25.00 minimum to maintain membership.

LIMITATIONS ON FREQUENCY AND DOLLAR AMOUNT OF TRANSACTIONS FOR YOUR ATM AND VISA CHECK CARD (PIN TRANSACTIONS ONLY)

1. When the automated teller machine is “on-line”, the dollar amount of funds you may obtain each day is $500.00, or your available funds, whichever is less.  There is no limit on the number of transactions.
2. When the automated teller machine is “off-line”, the dollar amount of funds you may obtain each day is $200.00, or your available funds, whichever is less.  There is no limit on the number of transactions. 
3. We will not be required to complete a transaction if you do not have enough collected funds available to cover the transaction.
4. You agree not to perform a transaction that would cause your account balance to go below zero, or that would cause a withdrawal, transfer, or advance from an account which you do not have, or from an account which you have not been authorized to access, if we do complete such a transaction, you agree to pay us the excess amount or the amount improperly withdrawn, transferred, or advanced, immediately upon request.
5. We also may limit or refuse to complete transactions, when we have to, for security reasons.
6. You MAY NOT, at any time, bring your Share Savings Account below $ 25.00.  This will result in a $ 27.00 NSF fee and refusal of any transaction until such time as the account balance is brought back up the $ 25.00 minimum to maintain membership.
7. If your account is delinquent.

FEES AND CHARGES FOR YOUR ATM, VISA CHECK CARD (PIN TRANSACTIONS ONLY), INTERNET BRANCH AND INTERNET BILL PAY

Please refer to the Belvoir Federal Credit Union Rate and Fee Schedule for Savings and Checking Accounts.

VISA INTERNATIONAL TRANSACTION FEE – A 1% fee will be assessed on all transactions where the merchant country differs from the country of the card issuer.  The converted transaction amount will be shown separately form the International Transaction Fee on your billing statement.  The fee will be assessed on all international purchases, credit vouchers, and cash disbursements.

MASTERCARD CROSS-BORDER AND CURRENCY CONVERSION FEES – If you use your ATM or VISA Check Card at an ATM that is run by a MasterCard Network (i.e.. CIRRUS) for transactions where the merchant country differs from the country of the card issuer, MasterCard will charge a fee of .80 of 1% of the transaction amount. This fee is called a MasterCard Cross-Border fee.  For transactions processed in a currency other than U.S. dollars, MasterCard will convert the amount to U.S. dollars and this conversion will result in a fee of .20 of 1% of the transaction amount. 

Currently the currency conversion rate used to determine the transaction amount in U.S. dollars for International transactions is generally either a government mandated rate or a wholesale rate determined by VISA International or MasterCard International for the processing cycle in which the transaction is processed, increased by one percentage point.  The currency conversion rate used by VISA International or MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

RECEIPTS AND ACCOUNT STATEMENTS FOR YOUR ATM TRANSACTIONS

You will receive a transaction record form (receipt) when you use your card at an automated teller machine.  You will also receive a statement of account each month.

RECEIPTS AND ACCOUNT SUMMARY FOR YOUR INTERNET BRANCH AND INTERNET BILL PAY TRANSACTIONS

Your transaction confirmation and monthly summary are available at the time your transaction request is completed.

LIABILITY FOR UNAUTHORIZED TRANSACTIONS

You will be liable for unauthorized use of your card, to the extent allowed by applicable federal or state laws.  The following is an explanation of your liability for unauthorized use of your card under federal law.  Your liability may be limited, in certain cases, under applicable state law.

• Tell us at once if you believe your card has been lost or stolen.  Telephoning is best way of keeping your possible losses down.  You could lose all of the money in your account, including your available line of credit.
• If you tell us within 2 business days after you learn of the loss or theft, you can lose no more than fifty dollars ($50.00) if someone used your card without your permission.
• If you do not tell us within 2 business days after you learn of the loss or theft, and we can prove that we could have stopped someone from using your card without your permission if you had told us, you could lose as much as  $500.00. 
• If your statement of account shows transactions that you did not make, tell us at once.  If you do not tell us within 60 days, after the statement of account is mailed to you, you may not get back any money that you lost after these 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 hospital stay) kept you from telling us, we will extend the time periods.
• If you believe that your card has been lost or stolen, or that someone has transferred, or may transfer, money from your account without your permission, call our Member Services Department at (703)730-1800, or write us at the Belvoir Federal Credit Union, 14040 Central Loop, Woodbridge, Virginia  22193.

RIGHT TO STOP PAYMENT OF PREAUTHORIZED TRANSFERS (this does NOT include those scheduled through BILL PAY)

If you told us in advance to make regular payments out of your account, in order to stop any of these payments please do the following:

Call us at (703) 730-1800 or (888) 503-2328, or write us at 14040 Central Loop, Woodbridge, VA 22193, in time for us to receive your request three (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 your call.  We will charge you $27.00 for each stop payment order you give. 

If you stop a pre-authorized transfer from your account, we will stop all future pre-authorized transfers from the same source to that account unless you specifically state that you want us to honor pre-authorized transfers from the same source in the future.  If you do not provide us with a written statement (you may obtain a form from us) in 14 days indicating that you have instructed the originator of the debit not to continue to debit your account, we will not be responsible if future pre-authorized transfers originated by the same party are processed against your account by us.

If these regular payments 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 order us to stop one of these payments (3) three business days or more before the transfer is scheduled.

TRANSACTIONS THAT ARE NOT COMPLETED BY USE OF YOUR ATM, VISA CHECK CARD (PIN TRANSACTIONS ONLY) OR THE INTERNET BRANCH

In the Transaction Limitations Section of this agreement a number of situations in which we do not agree to complete transactions in discussed.  We will also not be liable to you or to any other party, if we have terminated this agreement for any reason; if the funds in your account are subject to legal process or any other encumbrance restricting the transactions; if circumstances beyond our control (such as fire or flood) prevent the transaction from being completed despite reasonable precautions that we have taken.  If an automated teller machine does not have enough cash to complete the transaction; or if there is a technical malfunction in the machine which is known to you when you try to perform the transaction. 

There may also be other exceptions as provided by applicable law.

OUR RULES AND REGULATIONS AND OTHER AGREEMENTS

Your account may also be governed by other agreements between you and us and by our rules and regulations for share and loan accounts.

DISCLOSURE OF INFORMATION ABOUT YOUR ACCOUNT

In the ordinary course of business we may disclose information to third parties about your account or the transactions you perform.

1. Where it is necessary for completing transactions or resolving errors involving transactions.
2. In order to verify the existence and condition of your account for a third party, such as consumer reporting agency or a merchant
3. In order to comply with orders, or subpoenas of government agencies or courts.
4. If you give us written permission.

OUR BUSINESS DAYS

Our business days are Monday through Friday, other than legal holidays.

TERMINATING THIS AGREEMENT

You can terminate this agreement at any time by notifying us in writing and no longer using your ATM, VISA Check Card (PIN Transactions Only)  or the Internet Branch.  We can also terminate this agreement, even if we allow any transactions to be completed with your ATM card or the Internet Branch after this agreement has been terminated.

Your ATM and VISA Check Cards are the property of Belvoir Federal.  It is necessary to surrender the ATM and VISA Check Card   upon termination of this agreement.  Fees will be charged if the ATM and VISA Check Cards (PIN Transactions Only)   are not surrendered.  (See Rate & Fee Schedule-Savings & Checking Accounts).

CHANGING THIS AGREEMENT

We have the right to change the terms of this agreement from time to time.  We will notify you at least 21 days before the change will take effect if the change will cause you greater costs or liability, of if it will limit your card or Internet Branch access to your account.  We will not notify you in advance, however, if the change is necessary for security reasons.

NOTICES
All notices from us will be effective when we have mailed them or delivered them to the last address that we have for you in our records.  Notices from you will generally be effective once we receive them at the address specified in Section 20) of this agreement.  Notices required under Section 6) of this agreement will be effective once you have done whatever is reasonably necessary (such as telephone, telegram, or mail a notice) to give us the information we need.

COLLECTION EXPENSES AND EVIDENCE

If we have to file a lawsuit to collect whatever you owe us, you will pay our reasonable expenses, including attorney’s fees.  If we go to court for any reason, we can use a copy, microfilm, or microfiche of any document to prove what you owe or that a transaction has taken place, and any copy, microfilm, or microfiche will have the same validity as the original document.

WHICH STATE’S LAW APPLIES TO THIS AGREEMENT

Any questions under this agreement will be decided by Virginia law.  If any terms of this agreement cannot legally be enforced, this agreement is to be considered changed to the extent necessary to comply with the law.

TRUTH IN LENDING DISCLOSURES

If you have a Belvoir Federal Credit Union Line Of Credit Loan Account and/or Home Equity Line of Credit Loan Account, your ATM, VISA Check Card (PIN Transactions Only)  and Internet Branch permits you to access that account under the terms previously disclosed to you.

ATM AND VISA CHECK CARD (PIN TRANSACTIONS ONLY) OWNERSHIP

Your card will remain our property and you agree to surrender the card(s) to us at anytime upon our request.

PRIOR AUTOMATED TELLER MACHINE AGREEMENTS

This agreement supersedes any automated teller machine agreement dated prior to the revision date of this agreement.

FOREIGN TRANSACTIONS PROCESSED BY USE OF AN ATM OR VISA CHECK CARD (PIN TRANSACTIONS ONLY)

Card withdrawals made in foreign countries currencies will be charged to your account in U.S. dollars.  The conversion rate to U.S. dollars will be made in accordance with the operating regulations for international transactions established by the automated teller machine system through whose facilities the card transaction is handled.

IN CASES OF ERRORS OR QUESTIONS ABOUT YOUR ATM, VISA CHECK CARD (PIN TRANSACTIONS ONLY)  OR INTERNET BRANCH TRANSACTIONS

Telephone us at (703) 730-1800 or write to our Member Services Department at the Belvoir Federal Credit Union, 14040 Central Loop, Woodbridge, Virginia 22193, as soon as you can, if you think your statement of account or transaction record form (receipt) is wrong, or if you need more information about a transaction.  We must hear from you no later than 60 days after we send the first statement of account on which the problem or error appeared.  You will need t

1. Tell us your name and account number.
2. Describe the error or transaction 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 will require that you send us your complaint or question in writing within 10 business days.

We will tell you the results of our investigation within 10 business days (20 days for accounts under 30 days old) after we hear from you.  We will correct any error promptly.  If we need more time, however, we may take up to 45 business days (90 days for accounts under 30 days old, POS and foreign transactions) to investigate your complaint or question.  If we decide to do this, we will re-credit your account within 10 business days, (20 days for accounts under 30 days old except for POS and foreign transactions) for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation.  If we ask you to send your error or question in writing and we do not receive it within 10 business days, we may not re-credit your account.

If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation.  You may ask for copies of documents that we used in our investigation. 

Click here to download the EFT agreement for Students Accounts!