ONLINE BILL-PAY
Cinfed Online Bill Pay Disclosure of Terms and Conditions
We are Cinfed Federal Credit Union, hereinafter referred to as "we" and "us", located at 550 Main St., Room 5510, Cincinnati, OH 45202 and our phone number is (513) 333-3800.
"You" and "your" refers to the member-owner of a savings account who has signed an agreement relating to Cinfed Online Bill Pay. You hereby agree to the rules and regulations affecting the issuance of the Online Bill Pay User ID and Password for the Cinfed Online Bill Pay service provided by us for your convenience.
User ID & Password: The User ID & Password you choose is your "remote bill-pay signature", and you are responsible for maintaining its confidentiality. If you choose to give your User ID & Password to someone else, you are responsible for any and all transactions that may occur on your accounts that are connected to the Online Bill-Pay system.
Authorized Use: Only you are authorized to make payments with funds from your account(s) with the use of your Online Bill-Pay User ID and Password along with any joint owner you may share your username and password with.
Notification Procedure: If you believe that your Online Bill Pay Password has been LOST or STOLEN, or that someone has added payees or made payments from your account or may add payees to make payments from your account without permission, call us at the number shown at the beginning of this Agreement, or write us at the address given at the beginning of this Agreement.
Cinfed Online Bill-Pay Fees and Charges: The list of fees and charges are on the Cinfed Fee Schedule, on Cinfed's Website at www.cinfed.org/fees.html or you can call the Membership Department at 513-333- 3883 for details.
Bill Payments: We will process bill payment requests to those vendors you have designated, and such vendors as you authorize and for whom we have the proper vendor number. The number of payees is limited to 400. We will not process any bill payment if the required transaction information is incomplete. We will withdraw the designated funds from your account for bill payments on the date you schedule for payment. The maximum transaction amount per payment is $25,000.00 or account balance (whichever is less). You must allow sufficient time to process your payment after they receive a transfer from us. If the payment is made by EFT allow 2 business days not including date of payment, if it is a mail payment allow 5 business days not including date of payment, for payment to be received. We cannot guarantee the time that any payment will be credited to your account by the vendor. To stop payment of a bill, you must remove the payment instructions from your file prior to the date you scheduled for payment.
Future Payments: If you designate a Bill Payment as a "Future" transaction, You may request that the transaction be made on a future date that you may designate up to 364 days in advance of the Scheduled initiation date. Sufficient funds must be available by midnight of the night before the scheduled initiation date, but will be deducted from your designated account on the scheduled initiation date. "Future" transactions may be canceled or changed until 12:00 midnight of the night before the scheduled initiation date.
Recurring Payments: If you designate a Bill Payment as a "Recurring" transaction, you may request, and the Cinfed Federal Credit Union will use a scheduled initiation date that reoccurs on a specified regular basis (i.e. weekly, bi-weekly, monthly, etc.) You will designate a "start" and "end" date. Sufficient funds must be available by midnight of the night before the scheduled initiation date, but will be deducted from my designated account on the scheduled initiation date. "Recurring" transactions may be canceled or changed until 12:00 midnight of the night before the scheduled initiation date.
Expedited payments disclosure
Terms and Conditions
This Agreement (the “Agreement”) represents the terms and conditions governing the Expedited Payment Service and is between Cinfed Credit Union and you as a consumer of the Expedited Payment Service. Any references to "we", "us" or "our" includes any agent, independent contractor, designee, or assignee that Cinfed Credit Union involves in the provision of the Expedited Payment Service, and any references to "you", "your" or "yours" includes you and any person authorized by you to access the Expedited Payment Service. Please review this entire document to ensure that you understand the full scope of rights and responsibilities associated with the Expedited Payment Service.
Description of Features
This service allows you to submit payments to participating merchants that will be posted to your account with that merchant on the same day, within the parameters of the Service and other parameters established by the participating merchants. In order for an Expedited Payment to post on the same day, you must submit accurate and complete information for the payment, the payment must be submitted on a day during which the U.S. Federal Reserve System is open for operations, and you must submit the payment prior to the merchant’s designated daily cutoff time. Expedited Payments submitted without complete or accurate information may be rejected or may not post on time. Expedited Payments submitted by you on a non-Federal Reserve business day or submitted by you after the applicable merchant’s daily cutoff time will be posted the following Federal Reserve business day. You will be charged a fee for each Expedited Payment you submit, regardless of whether the payment was properly submitted. The cutoff time will be displayed to you before the payment is finalized.
This is NOT a “pay anyone” service where you can make payments to any payee; with this service you can only make Expedited Payments to those merchants that participate in the program and the payments you make under this service are subject to the rules of each merchant as to how they define an expedited payment.
Hours of Access - You can use the Expedited Payment Service seven days a week, twenty-four hours a day, although some or all services may not be available occasionally due to emergency or scheduled system maintenance, updates or repairs or for other reasons beyond our control.
Expedited Payment Service Limits
You will not be able to schedule an Expedited Payment for an amount greater than the balance displayed within the bill payment service for the funding account at the time you attempt to schedule the payment.
Additionally, for risk management and security purposes the Expedited Payment Service limits the number of payments and the total amount of payments that you may make per day. You will be given an error message and prevented from fully executing any transaction that exceeds these limits.
The limits are as follows:
• Each day, users may conduct up to 10 Expedited Payments.
• The combined daily dollar amount of all Expedited Payments conducted by a user will have a maximum limit of $25,000.
• Each Expedited Payment will have a per transaction limit of $25,000.
Fees and other Deductions
The Expedited Payment Service is a transaction-based service. For each Expedited Payment, a fee of $9.95 will be added to the amount of the transaction. There are no monthly or recurring fees associated with the service.
Periodic statements.
You will not receive a separate statement for transactions conducted through the Expedited Payment service. These transactions will be noted on your regular periodic statement.
Credit Unions Liability If we do not complete a properly-submitted Expedited Payment on time or in the correct amount according to our agreement with you, we will be liable for any late fees and/or finance charges assessed against you for the late posting of such payment, excluding any fees or charges assessed on your total outstanding balance with that merchant. We will not be liable for consequential damages that might arise from the payment not arriving in time. We will not be liable:
(1) If you did not provide us accurate information to successfully complete the payment.
(2) If you do not have enough money in your account to complete the transfer.
(3) If you are unable to schedule a payment because you have exceeded the risk limits of the day.
(4) If you are unable to schedule a payment because the merchant does not participate in the Expedited Payment service.
(5) If you are unable to schedule a payment because the system is unavailable.
(6) If you schedule the payment for an incorrect amount.
Expedited Payment Guarantee
If a Properly Scheduled Expedited Payment (defined below) is not received and posted by the payee as of the scheduled payment date, you will not be responsible for any Penalties (defined below) that arise due to the failure of such payment to post on the scheduled date and we will refund you the service fee associated with such payment.
We will first attempt to have any such Penalties removed, and if the payee is unwilling or unable to remove them, we will refund the Penalties to the account you initiated the payment from. In addition, we will attempt to have your payee account noted appropriately to ensure that the situation does not negatively impact your credit rating.
“Penalties” are defined as late fees or finance charges that are assessed on the Properly Scheduled Expedited Payment amount that did not post on the scheduled payment date, not those based on your total outstanding balance. A “Properly Scheduled Expedited Payment” is defined as a payment that:
1. Was made from an account that has sufficient funds for the payment and any fees associated with the payment;
2. Was scheduled to be delivered on or before the due date of your bill, excluding any grace periods.
(The one exception to this guideline is that mortgage payments may be scheduled so that the payment is sent on or before the due date including grace periods. For example, a mortgage payment due on July 1st, with a 15-day grace period, must have a “Deliver By” date no later than July 15th.);
3. The service indicates is deliverable on or prior to the applicable due date;
4. Was not made for any of the following types of transactions:
• Unprocessed payments due to debit failures
• Payments to settle securities transactions
• Payments to insurance companies
• Payments to payoff special or delayed financing for purchases
• Payments to credit counseling agencies who pay creditors on your behalf
• Payments to payees outside of the United States
• Court-ordered payments such as alimony, child support, speeding tickets, etc.
• Tax entities
• Collection agencies
5. The information supplied by you is correct (payee name and address, your name and account number as it appears on the payee's records);
6. Does not cause you to exceed any applicable risk management limits; and
7. Was scheduled when the system was unavailable
Customer Service Office Hours for Bill Pay: Our customer assistance number is accessible 24 hours per day, 7 days a week with the exception of New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. The number is (800) 789-3061. Cinfed Online Banking transactions may be made at any time seven (7) days a week, except when the service is unavailable due to backup procedures or maintenance.
Documentation of Transactions: Upon completion of a transaction using Cinfed Online Banking Bill Pay, a confirmation number will be given. Record this number, along with the payee, scheduled date and transaction amount in your checkbook register. (A confirmation number will not be given when doing transactions on Online Banking) You will also receive a monthly statement of your account activity. You will not receive any other slip or confirmation of a Cinfed Online Banking transaction.
Bill Pay Risk-Based Authentication RBA: This is an advanced risk-based authentication solution that measures the risk associated with an end user login attempt. RBA establishes profiles for each end user based on multiple variables including Device ID, IP address, Geographic Location, and End User Behaviors. As each end user logs into the application, the application analyzes the probability of the user being a fraudulent user. Challenge questions are presented if needed to the user for an additional layer of security. This solution is designed to address multi-factor authentication.
Bill Pay Reverse Authentication RA: This is also known as two-way authentication and is designed to combat phishing by having the user authenticate the online banking and bill pay application site and vice-versa. The user and the online application share personalized data - either a user selected image or personalized text. Upon login, the user is prompted to enter his or her user ID. When she or he does, the personalized data image is displayed to the user at the time and the user determines whether to key in their password.
Error Resolution for Online Bill Pay: In case of errors or questions about your transactions, call us at 1-800-789-3061 for bill pay transactions or 513-333-3800 or write us at the address listed in this agreement, as soon as you can, if you think your statement is wrong or if you need more information about a transfer listed on the statement. 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.
Conditions Under Which We will Disclose Information To A Third Party: You agree that we may, and you hereby authorize us to, disclose information to third parties about your account(s) or the transfers you make (1) where it is necessary for completing transfers; (2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; (3) in order to comply with government agency or court orders as permitted by law; or (4) if you give us your written permission.
Payment Guarantee
You will never pay a late fee or finance charge for a properly scheduled payment.
Payment Guarantee:
If a properly scheduled payment is not received and posted on time by the payee, we will attempt to have any late fees or assessed finance charges removed. (Finance charges are calculated based on your payment amount rather than your entire balance.) If the payee is unwilling or unable to remove them, we will pay the fees and finance charges directly to the payee. In addition, we will attempt to have your account noted appropriately to ensure that the situation does not negatively impact your credit rating.
The Payment Guarantee applies to late fees and/or finance charges associated with the late posting of a payment, provided that the following conditions are met:
1) The payment was scheduled to be delivered on or before the due date of your bill, excluding any grace periods. (The one exception to this guideline is that mortgage payments may be scheduled so that the payment is sent on or before the due date, excluding grace periods. For example, a mortgage payment due on July 1, with a 15-day grace period, must have a “Send On” date no later than July 1)
2) The payment was not made to an excluded payee:
a. Payments to payees located in the Armed Forces Postal Codes such as AE and AP.
b. Unprocessed payments due to debit failures.
c. Payments to settle securities transactions.
d. Payments to payoff special or delayed financing for purchases.
e. Payments to credit counseling agencies who pay creditors on your behalf.
3) The payment was not made to a prohibited payee. Payments to the following payees are not permitted through this service:
a. Payments to payees outside of the United States
b. Court-ordered payments such as alimony, child support, Speeding tickets, etc.
c. Tax entities
d. Collection agencies
4) The information supplied by you is correct (payee name and address, your name and account number as it appears on the payee’s records).
