Electronic Funds Transfers

Your Rights and Responsibilities

ATM Transactions

You may access your account(s) by ATM using your ATM card and personal identification number to:

Make cash withdrawals from share savings and/or share draft (checking). As an anti-fraud measure, withdrawals using your ATM card are limited to a cumulative $500 per day. If you need higher limits, call the credit union prior to the time you will be using your ATM card.
Transfer funds from regular share savings to share draft (checking) account(s).
Transfer funds from share draft (checking) account(s) to regular share savings account(s).
Obtain information about the balances and recent transactions that have occurred in your share savings or share draft (checking).

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

Business Days

Our business days are Monday - Friday, excluding holidays.

Confidentiality

We will disclose information to third parties about your account or the transfers you make:

Where it is necessary for completing transfers; or
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
In order to comply with government agency or court orders; or
As explained in the separate Privacy Disclosure.

CU*Easy Pay! - Electronic Bill Pay system

Highmark Federal Credit Union uses a &delivery date& method of online bill payment and bill presentation system. This system requires funds to be available in the member's designated account on the day that the payee presents the share draft (check) for payment. If the account has an insufficient available fund balance, it would follow the same procedure and steps as any other overdraft and insufficient funds incident. It is the responsibility of the Payee and his financial institution to continuing submitting the check for processing. If for any reason, you wish to cancel CU*EasyPay! you must notify Highmark Federal Credit Union. We recommend that you cancel all future bill payments at the same time that you are cancelling CU*EasyPay!

There is a limit of 30 bill payments per day.
The maximum amount of bill payments each day is $9,999,999.99, if there are sufficient funds in your account.

CU*Talk Telephone Transfers

You may access your account by telephone at (877) 254-4446 using your personal identification number (PIN), a touch tone phone, and your account number to:

Make loan payments from Highmark share draft (checking) or savings to your Highmark loans.
Make transfers between your Highmark share draft (checking) and savings.
Get information about balances, deposits, withdrawals, transactions, and /or payments that have occurred in your share savings, share draft (checking), and loans.

Debit/Check Card Point of Sale Transactions

You may access your draft (checking) account(s) to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, (if the merchant permits), obtain cash from a financial institution via an ATM machine, or do anything that a participating merchant will accept. Using your debit/check card to purchase goods and services is generally referred to a Point-of-Sale (POS) transaction.

Point-of-Sale transaction dollar limitations:

As an anti-fraud measure, the default limit on your debit/check card is $2,000 per day. If you need to exceed $2,000, call Highmark Federal Credit Union prior to the time you will be using the debit/check card.

Documentation

Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point of sale terminals.
Periodic statements. You will receive a statement monthly for your share draft (checking) account(s). You will receive a statement monthly for your savings account if you have any activity in your savings account in that particular month. If you do not post activity in your savings account, you receive a statement quarterly.
E-statements. If you are enrolled in Its-Me-247 Online banking you will receive your statements referenced above via the internet, (E-statements). All other subscribers will receive them hard-copy, via mail.

Electronic Funds Transfers Initiated by Third Parties

You may authorize a third party to initiate electronic funds transfers between your account and a third party's account. The information necessary to initiate an electronic transfer can be found on your draft (check) as well as on a deposit/withdrawal slip. When you provide this information to vendors or merchants, you are authorizing them to electronically transfer money from/to your account. Thus, you should only provide your Highmark account information (whether by a draft (check), you write; by a deposit slip; over the phone; the internet; or via some other method) to trusted third parties because you are authorizing them to initiate an electronic funds transfer. In some cases, your authorization can occur when the merchant posts a sign informing you of their electronic funds policy. Electronic funds transfers can occur in a number of ways. These transfers may use the Federal Reserve's Automated Clearinghouse (ACH) or other payment networks. The transfers may be one-time occurrences or you may direct them to occur at regular intervals. In addition, transfers may be immediate or they may be delayed a number of days. Therefore, you should always have sufficient funds in your account to cover the electronic transfers you have authorized. These transfers are automated and are not reviewed by Highmark Federal Credit Union prior to payment.

Examples of electronic funds transfers include but are not limited to:

Preauthorized Credits. You may make arrangements for certain direct deposits to be accepted into your share draft checking or regular share savings.
Preauthorized Payments. You may make arrangements to pay certain recurring bills from your share draft checking or regular share savings.
Electronic Share Draft (check) Conversion. When you provide your share draft (check) to a merchant or service provider they may scan the check or draft for the encoded credit union and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your draft (check) by other means such as mail or drop box.
Electronic returned draft (check) charge. Some merchants or service providers will initiate an electronic funds transfer to collect a service charge if a draft (check) is returned due to insufficient funds.

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 disclosure 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 60 days after we send 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 verbally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete the investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account was opened.

We will tell you the results within three (3) business days after completing our investigation. If we decide that there was not an error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Fees

We do not charge for direct deposit 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. Please refer to our Fee Schedule for a list of fees we apply for use of various ATM terminals. When you use an ATM we do not own, you may be charged a fee by the ATM Operator and/or Network. The ATM Operator and/or Network may also charge a fee for a balance inquiry even if you do not complete a funds transfer.

Financial Institution's Liability

Liability for failure to make transfers: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law.

However, there are some exceptions. For instance, we will not be liable if:

Through no fault of ours, you do not have enough money in your account to make the transfer.
You have an overdraft line and the transfer would go over the credit limit.
Circumstances beyond our control prevent the transaction.
Your loss was caused by you or another financial institution's negligence.
Your account funds are subject to legal process or other claim.

We will not be liable for consequential damages, except liability for wrongful dishonor. We exercise ordinary card if our actions or non-actions are consistent with applicable state law, Federal Reserve regulations and rules and general financial institution practices. You grant us the right, in making payments of deposited funds, to rely on the terms of this Agreement.

Its-Me-247 Computer Transfers

You may access your account(s) by computer 24 hours a day using your member number and password to:

Transfer funds between share draft (checking) and savings within a single account.
Transfer funds between share draft (checking) and savings on separate accounts you own.
Make payments from savings/share draft (checking) to loan accounts with us.
Get information about balances, deposits, withdrawals, transactions and/or payments that have occurred in your savings, share draft (checking), and loans.

Stop Payments on Preauthorized Payments

Stop Payment Procedures: If you have told us in advance to make regular transfers out of your Highmark account(s) via electronic funds transfers to another financial institution, you may stop these payments at any time by following the procedure below:

Call or write us at the telephone number or address listed in this disclosure at least four (4) business days prior to the date the payment is scheduled to be made. If you call, we may require a written stop payment order with an authorized signature prior to processing the stop payment order.

Please refer to our separate Fee Schedule for applicable stop payment fees and how they are assessed.

Report Card Lost or Stolen

Tell us at once if you believe your card and/orPIN has been lost or stolen. Contact the CU by phone during normal business hours at 605-716-4444 or 1-800-672-6365. After hours, call 1-800-535-8440.

Unauthorized Transfers - Your Liability

If you believe your card and/or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write at the telephone number or address listed in this disclosure.

Generally, tell us at once if you believe your card and/or PIN has been lost or stolen. Contacting Highmark Federal Credit Union by phone is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card and/or PIN without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or PIN, and we can prove we could have stopped someone from using your card and/or PIN 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 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove we could have stopped the loss of the money if you had told us in that time.

Highmark Federal Credit Union
725 Fifth Street
Rapid City, SD 57701
(605) 716-4444

More detailed information is available on request.