Terms & Conditions Agreement for Deer Valley Credit Union's Internet eTransfer Service
Deer Valley Credit Union (“Credit Union“, “DVCU“, “We“, “Us“, or “Our“ regardless of case) and the Credit Union member (“Member“, “You“, or “Your“ regardless of case or plurality) who accepts the Terms and Conditions of this Agreement (Agreement) by selecting the "“ Agree“ checkbox, hereby agree to these requirements in their entirety:
1.Eligibility and Statement of Application
Eligibility for eTransfer requires that you maintain an active relationship with DVCU, and that your share and loan accounts are in good standing. Loan and share accounts cannot be delinquent more than 31 days and delinquent balance cannot exceed one-thousand ($1,000) dollars. Eligibility can be revoked at any time without prior consent.
By accepting this Agreement and/or completing an eTransfer, You authorize the Credit Union to access Your account(s) held at the Credit Union and Your account(s) with other financial institutions (External Account) to affect such eTransfer, through the Automated Clearing House Network (ACH). The Credit Union reserves the right to affect any eTransfer through the Wire and Check Processing Networks when we deem necessary, in our sole discretion. In order to remain eligible for the Service, Member must adhere to the requirements as set forth in this Agreement. Originated entries may not violate the laws of the U.S.
Account to Account (A2A)
The A2A service allows You to log into DVCU online banking and transfer funds by way of an electronic
credit and/or debit entry, from and to Your account(s) at DVCU and Your account at another financial
institution where you are the signor on the account (External Account).
Person to Person (P2P)
The P2P service allows You to log into DVCU online banking and transfer funds by way of electronic credit entry,
to an Individual Third Party at another financial institution or DVCU account where you are not a signor on the
account (Third Party Account).
2. eTransfer Processing Days and Timeframes
You may schedule an eTransfer Monday through Sunday, 24 hours a day (except during scheduled maintenance timeframes). The Credit Union processes eTransfers each Business Day. Each eTransfer you schedule by the cut-off time on any given Business Day will be processed on the same Business Day. The cut- off time is 3:30 P.M. on a Business Day. You understand and agree that the Credit Union reserves the right in our sole and absolute discretion to change the processing cut-off time without prior notice to you.
When an eTransfer you schedule falls on a non-Business Day (any federal holiday, the day after Thanksgiving Day, Saturday or Sunday), the Credit Union will process such eTransfer on the next Business Day. An eTransfer will become in process on the eTransfer Start Date. The eTransfer Start Date is reflected in the online banking system. Notices of upcoming federal holidays are posted on our website. We recommend that you set up an eTransfer to process at least one Business Day in advance of the day you need the funds to transfer. Likewise, we recommend that you make any changes to a pending eTransfer at least one Business Day in advance of the day you need the funds to transfer.
Limits of Account to Account (A2A) outbound transfers is $2,500 per day and limits of A2A inbound transfers is $1,000 per day unless applied towards a loan payment. A2A inbound to a DVCU loan is $2,500 per day. Person to Person (P2P) transfers are limited to $1,000 per day. The aggregated limits of A2A and P2P is $5,000 per month. The verification process may take 2-3 business days, not including holidays that are observed by DVCU.
3. Contact Us
You may contact the Credit Union by calling the eBranch at (602) 375-7300. The eBranch is available Monday through Thursday from 9:00 A.M. To 5:00 P.M. MST and Friday from 9:00 A.M. to 6:00 P.M. MST. The Credit Union is closed on all Federal Holidays, the day after Thanksgiving, Saturdays and Sundays. However, the day after Thanksgiving is a processing day. To email us, please use the secure message center that is within our online banking. For correspondence, please send mail to Deer Valley Credit Union; 16215 N. 28th Avenue Phoenix, AZ 85053. Calling us is the best way to notify us of an unauthorized eTransfer transaction.
4. Performing a One-Time Transfer or Recurring Transfer
I authorize the Credit Union to send/draw a one-time/recurring electronic funds transfer to/from the financial institution account named above, to/from my Credit Union account listed above. I agree that if the account does not have sufficient funds on the day the Credit Union attempts to debit/credit the amount listed above, that the transaction shall not be made. The Credit Union may attempt, but shall have no further obligation to continue to attempt to process the transaction listed above to/from the account.
For debit amounts being applied to loan accounts, I shall be responsible to make such payment and any other payments that may become due on the obligation if the Account does not have sufficient funds when the Credit Union attempts to deduct the debit amount. I agree to pay a returned item fee of $35.00 in the event of insufficient funds being available as described herein. This fee shall be in addition to any late fees that may be charged according to the terms of the loan agreement.
I agree that the Credit Union will not be responsible for any loss, liability, cost, or fees charged by the financial institution whose account I am authorizing this credit/debit to/from, for acting on my instructions contained herein.
The authorization will be in effect until I cancel this authorization. To cancel a payment or this authorization, I understand I must notify the Credit Union at least three days in advance of the scheduled payment. You can cancel this authorization on-line or by contacting the Credit Union at (602) 375-7300.
5. Service Suspension and Reinstatement
In the event that We at any time incur a problem with Your use of the Service, or if there are activities on Your account that We deem adverse, We reserve the right to immediately suspend Your use of the Service, without prior notice to You.
You understand and agree that such action is reasonable to the Credit Union to take in order to protect Us from loss. In the event of suspension, You may request reinstatement of Your use of the Service by contacting the Credit Union. The Credit Union reserves the right, in Our sole and absolute discretion, to grant or deny reinstatement of Your use of the Service. In the event We agree to reinstate You, We reserve the right to, and ordinarily will, initially reinstate Your use of the Service subject to lower per-transaction and monthly dollar limits and/or with other restrictions on the Service than what otherwise might be available to You. Based upon Your subsequent use of the Service, the Credit Union in Our sole and absolute discretion may thereafter restore Your full ability to use the Service, subject to such changed limits as may then be in effect.
6. . Fees and Charges
You understand and agree that the Credit Union may from time to time impose additional fees and charges in connection with the Service. If You choose to proceed with the Service, You authorize the Credit Union to debit Your designated account for the amount indicated, as well as for any fees that may be associated with such debit, including, but not limited to, a returned items fee for NSF/Uncollected Funds. For more information, please refer to the current Credit Union Fee Schedule.
7. Name and Account Number Inconsistency
You understand and agree that DVCU requires the posting of an ACH entry to have accurate name and account number information to process a funds transfer. You understand and agree that when entering account instructions, it is Your sole responsibility to ensure that You enter such account instructions accurately. You understand and agree that when the Individual Third Party enters his/her account instructions, it is the sole responsibility of the Individual Third Party to ensure that he/she enters such account instructions accurately. Further, your obligation to pay the transfer shall not be excused in the event of such inconsistency between names and account number. In the event an error is made in entering the account instructions, You understand and agree to hold the Credit Union harmless from any fee or loss You may incur, including any fees and penalties assessed on the External Account or the Third-Party Account.
WE SHALL NOT BE RESPONSIBLE FOR ANY LOSS OR DAMAGE CAUSED BY THE SERVICE. UNLESS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL WE BE RESPONSIBLE FOR ANY FEES, OR FOR ANY DIRECT, SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING FROM THE USE OR MAINTENANCE OF THE SERVICE, INCLUDING LOSS FROM WRONGFUL DISHONOR RESULTING FROM OUR ACTS OR OMISSIONS, OR FOR LOST PROFITS, EVEN IF WE ARE ADVISED IN ADVANCE ABOUT THE POSSIBILITY OF SUCH DAMAGES. WE SHALL NOT BE RESPONSIBLE FOR YOUR ATTORNEY'S FEES, EXCEPT AS REQUIRED BY LAW. THE SERVICE IS PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTIES OF NON-INFRINGEMENT OF INTELLECTUAL PROPERTY OR THIRD-PARTY RIGHTS. WE MAKE NO REPRESENTATION OR WARRANTY THAT THE SERVICE WILL MEET ANY USER'S REQUIREMENTS, BE UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE.
You agree to indemnify, defend, and hold the Credit Union, Our affiliates, partners, officers, directors, employees, consultants, service providers, and agents harmless from and against any and all claims, actions, damages, liabilities, costs, and expenses, including reasonable attorneys' fees and expenses, arising out of Your use of the Service, Our reliance on Your instructions, information or authorizations under this Agreement, Your negligent or intentional action or inaction, and/or Your breach of this Agreement, including third-party claims. The Credit Union and You agree that this paragraph shall survive the termination of this Agreement. In cases where You have insufficient funds or other issues relating to the External Account that prevent or delay the Credit Union from processing your eTransfer; you understand and agree to hold the Credit Union harmless, including any fees and/or penalties assessed on the External Account and/or by any third party.