About Direct

Web Banking Agreement and Disclosure

This Direct.com Web Banking Agreement applies to the Direct.com Web Banking, VISA Information, Wire Transfer and Bill Payment Services you receive from Direct Federal Credit Union and supplements the terms and conditions in the Account Rules and Regulations that govern your deposit accounts and the loan agreements that govern your loan accounts. You should read this Agreement carefully to understand how our online services and features work, as well as your rights and obligations if you register for and use these online services.

Under this Agreement, "we", "us," "our," the "Credit Union," and "Direct Federal" refer to Direct Federal Credit Union. "You" and "your" refer to each accountholder that has requested this service.

Agreeing to this Agreement:

By applying for and using the Direct.com Web Banking, VISA Information, Wire Transfer or Bill Payment service, you acknowledge that you have received and understand the terms of this Agreement and agree to be bound by the provisions of this Agreement and any amendments that are made from time to time.

You should print and retain a copy of this Agreement for your records. If you are unable to print, we will mail you a paper copy of this Agreement at your request. You agree that e-mail or other electronic communications viewed or transmitted between us through the Direct.com Web Banking Service shall be treated as "writing" and shall bind each of us in the same way as a written communication. Unless otherwise provided under applicable law, any electronic communication you send to us will not be effective until we receive it and have had reasonable opportunity to act on it.

Accessing your Accounts through Direct.com Web Banking:

Account and System requirements:

To use Direct.com Web Banking, you must be a member of Direct Federal. To access your accounts, you will need your Direct Federal core account number ("Account Number") and a passcode. When you access Web Banking for the first time, your passcode will be the same as your 4-digit CALL 24 Personal Identification Number. You will then be asked to select a strong Web Banking Passcode that must be a combination of special characters, numbers and letters.

You must use a browser with 128-bit encryption (such as Microsoft Internet Explorer or Netscape Browser - versions 4.0 or higher) to be able to utilize the Direct.com Web Banking service.

To safeguard your use of Direct.com Web Banking, Direct Federal checks your Internet line with each log-on to verify that your connection is secure. Additionally, you will be asked for your Account Number and passcode each time you access the Service. If your computer terminal is left idle for a period of time, your access will be disconnected until you log-on again. Direct Federal's account data systems are protected by firewalls between our systems and the Internet.

Permissible Transactions for Direct.com Web Banking:

Account Information and Administration: You may check the balance of or review transactions posted to any of your Direct Federal deposit or loan accounts. In most cases, the account balance and transactions shown will be current as of the time of your inquiry. In some cases, however, the information may be current as of the preceding business day. The account balance may include deposits still subject to verification by us and may not include deposits or loans in process, outstanding checks or payments, or other withdrawals, payments, credits, charges or debits. You may also apply online for loans, reorder checks, place a street address change request, change your e-mail address, signup for or cancel e-statements, or perform other administrative tasks that are available through the system from time to time.

Fund Transfers between your Direct Federal accounts: You may transfer funds between your deposit accounts or from any deposit account to make a payment on any loan account you have with us. When you request a fund transfer using this service, you authorize us to follow the transfer instructions and transfer the funds from the designated originating account to the designated recipient account. We will transfer the funds on that day. The day we make the transfer is called the "Transaction Date." We may refuse to act on your fund transfer instruction if there are not sufficient available funds in your account, including funds available under any linked overdraft plan, on the Transaction Date. Funds transferred to the designated recipient account will be deemed deposited on the Transaction Date and will be available thereafter in accordance with our funds availability policy.

Credit Advances: You may request an advance from your Visa, Personal Line of Credit, or Home Equity Line of Credit account. You may request that we deposit the amount of the advance to one of your deposit accounts or that we mail you a check.

Withdrawals: You may withdraw funds from any deposit account and request that we mail you a check for the amount of the withdrawal.

Bill Payment Service: The Bill Payment Service is a separate service with a separate usage fee (see our Schedule of Fees for current monthly access and transaction fees). With Bill Payment Service you may: make current, future, or recurring payments to certain companies or individuals. You may make bill payments in amounts from $1.00 to $9,999.00. Bill payments to pay taxes, any court ordered payment, or to settle any securities transaction are not allowed. If you authorize a recurring payment to any entity, those payments may continue until you either terminate the recurring payment or there are insufficient available funds to allow the payment. You assume the risk of loss due to an overpayment on any authorized payment using the Bill Payment Service.

All Bill Payment transactions will be made from your Checking Account.

You may designate payees through the Bill Payment Service. You must provide sufficient information about each payee as requested from time to time to direct a payment to that payee and permit the payee to identify the correct account to credit with your payment. Occasionally, a payee may choose not to participate in the Bill Payment Service or may require additional information before accepting payments. In this case, we may decline to make future payments to this payee.

When you schedule a bill payment using the Bill Payment Service, you must specify a date on which we are to process the payment. This is called the "Process Date." If you specify a date that is not a business day, the Process Date will be the next business day. Direct Federal may process a payment electronically or by issuing and mailing a paper check to the payee. Therefore, you should specify a Process Date that is at least 10 business days before the payment due date (not including any applicable grace period). This generally allows sufficient time for the payee to receive and process the payment regardless of which payment method we use. Direct Federal is not responsible for delays in the U.S. mail or for processing delays by the payee. If you incur a late charge on a payment processed through the Bill Payment service, Direct Federal's service provider will work with the payee to determine why the late charge was assessed and to attempt to have it reversed, provided: (i) the payment was properly scheduled at least 10 business days before the payment due date; (ii) you entered the correct payee name, address, account number, and payment amount in the Bill Payment system; and (iii) your Checking Account contained sufficient available funds to make the payment.

Direct Federal withdraws funds from your Checking Account to make a Bill Payment up to two business days after the Process Date you specified. If there are not sufficient funds in your Checking Account (including any linked overdraft account) during this time, Direct Federal may withdraw funds from your Savings Account, to make the payment. If there are not sufficient funds in your Checking (including any linked overdraft account) or Savings Account, all Bill Payment transactions from your account will be suspended for a period of 5 business days. If you deposit good funds and pay any applicable overdraft fees during that 5-day period, you may request that we resume making Bill Payments sooner. No Bill Payment that was scheduled to be made during the suspension period will be made unless you reschedule the payment.

Payments made through the Bill Payment service are assigned a unique confirmation reference number. You may review the status of your payments on the Direct.com Web Banking system by clicking on the Bill Payment Tab.

Bill Payment transactions are marked "pending" until the Process Date and "payment sent" thereafter. You may not cancel or edit a bill payment that has been marked "payment sent." You may cancel or edit any "pending" bill payment, free of charge, until 11:30 pm Eastern Time on the business day before the Process Date.

If we issued or mailed a paper check, you may be able to stop a bill payment after it has been marked "payment sent" by contacting our Call Center. Click here for contact information and hours. If you call us with your stop payment order, we may also require you to confirm your request in writing within 14 days after your call. Although we will make every effort to accommodate your request, we will have no liability for failing to do so if we have not received your request and had a reasonable opportunity to act on it before the check is presented for payment.

If you cancel one of a series of recurring payments to the same payee through the Bill Payment service, we will not make any future payments to that payee until you reschedule the payments.

When using the Direct.com Web Banking Bill Payment service, you are requesting that payments be made from your Checking Account. If we are unable to complete the transaction for any reason associated with your Checking Account (for example, there are insufficient funds), the transaction may not be completed. Unless prohibited by applicable law, in the event that a bill payment is not completed, we may at our discretion provide you with a return notice.

See our Schedule of Fees for the insufficient funds service fees that will be charged to your Checking Account for bill payment transactions presented against insufficient funds.

VISA Online Services: You may access your Direct Federal Visa credit card account to obtain information and make payments to that account online.
To access the account, click the “VISA Account” button in the left navigation bar on any Direct.com Web Banking page. When you first access “VISA Account,” the preceding 2 months’ statements will be available online. Each month after that, a new month’s statement will be added, until you have 11 months’ statements available for viewing online. Thereafter, the most recent 11 months’ statements will be available online. If you do not access Visa Account Online for a period greater than 6 months, your Visa Account Service will be considered inactive and your statement history will be reset to 2 months.

You can make a payment to your Visa account from any checking or savings account you maintain at Direct Federal or any other financial institution by authorizing an Automated Clearing House (ACH) payment transaction. Each payment must be individually authorized by you. You may not use a recurring payment to make a VISA credit card payment. Once a payment has been submitted, you cannot stop the payment. If you believe a payment to your Direct Federal VISA credit card has been made in error, you should contact our Call Center. Click here for contact information and hours.

Wire Transfers: We process Wire Transfers using the Automated Clearing House (ACH) system. You may make Wire Transfers to transfer funds between your Direct Federal accounts and accounts you hold at other financial institutions or from your Direct Federal accounts to an account held in the name of another person at Direct Federal or at another financial institution. You may not make a transfer out of an account held in the name of another person. Transfers from a Direct Federal account to an account at another financial institution are called "outbound" transfers. Transfers from an account at another financial institution to a Direct Federal account are called "inbound" transfers. You agree to make wire transfers only to and from accounts that you have a right to access for these transactions.

If a wire transfer involves an account at another financial institution, the other financial institution must be capable of receiving the transfer from Direct Federal.

You must submit instructions in accordance with the formatting requirements and other rules of the National Automated Clearing House Association and the New England ACH (collectively, the "ACH Rules"). You must include with your instructions all information we reasonably request and you must comply with any security procedures we institute. You must also comply with any set-up or other procedures required by the recipient of a transfer (such as the prearrangement required by the Internal Revenue Service for electronic tax payments).

We will use reasonable efforts to complete a wire transfer in accordance with your instructions if those instructions are given in accordance with this Agreement. If the instructions include a receiving institution's name and ABA number that are inconsistent, the transfer may be completed on the basis of the ABA number; if any recipient's name and account number are inconsistent, the transfer may be completed on the basis of the account number.

Transactions will be debited to (subtracted from) the account from which you are making the transfer on the business day after you initiate the transfer. Unless you qualify for and have requested a "Next Day Transfer," transfers will be credited (added) to the account to which you are making the transfer on the third business day after you initiate the transfer. These transfers are called "Three Business Day Transfers. The cut-off time for the initiation of Three Business Day Transfers is 11:59 pm Eastern Time each business day. If you initiate a transfer after that time or on a day that is not a business day, we will treat it as having been initiated on the next business day.

Next Day Transfers to or from accounts at other financial institutions are permitted only at our discretion and then only if you are eligible to make them. Until you have made a Next Day Transfer to an account at another institution, you will be eligible to make them only if you have made a Three Business Day Transfer to the same account at the other financial institution within the preceding 60 days. Once you have made a Next Day Transfer to an account at another financial institution, you remain eligible to make Next Day Transfers to that same account unless we notify you that you are no longer eligible. The cut-off time for the initiation of Next Day Transfers is 7:00 pm Eastern Time each business day. If you initiate a transfer after that time or on a day that is not a business day, we will treat it as having been initiated on the next business day.

If you ask us to modify or cancel a wire transfer, we will use reasonable efforts to do so, but we will not be liable if we are unable to do so. You agree to pay or reimburse us for any losses, costs, or expenses we incur in effecting or attempting to effect your request for a modification or cancellation.

We may reject any wire transfer that fails to comply with the terms of this Agreement, the ACH Rules, or any security procedure we have instituted. We may also reject any wire transfer because the total amount of all wire transfers you have initiated exceeded any dollar limit we have established or for any other reason permitted under the ACH Rules. If we reject a wire transfer, we will give you notice as required under the ACH Rules.

Wire transfers between an account at Direct Federal and an account at another financial institution are subject to the following limitations:

Type of Limit	Per Business Day	In Process	Monthly (Rolling 30 day Period)
Inbound	$2,000	$2,000	$5,000
Outbound	$15,000	$15,000	$25,000

We will give your notice of any returned wire transfer as required under ACH Rules. We will not retransmit a returned transfer unless your instruct us to do so.

You agree to comply with applicable rules, regulations, and laws in effect from time to time with respect to all requested wire transfers to be processed through the ACH system. This includes, but is not limited to, the ACH Rules and any requirements of the Office of Foreign Assets Control ("OFAC"). Information regarding OFAC requirements can be obtained by calling the OFAC Compliance Hotline, toll free, at 1-800-540-OFAC. Information regarding the ACH Rules can be obtained by contacting the National Automated Clearing House Association at 13665 Dulles Technology Drive, Suite 300, Herndon, Virginia, 20171, online at Click Here, or by telephone at (703) 561-1100. Failure to comply with applicable ACH Rules or other applicable law could result in liability for fines and other penalties assessed against Direct Federal, which you agree to pay directly or to reimburse to Direct Federal.

New Services: New services may be periodically introduced for Direct.com Web Banking. We will notify you of the existence of these new services. By using these services as they become available, you agree to be bound by the rules that will be made available to you concerning these services.

Limits on Transactions:

There are no limits on the number or types of transactions that you may process through the Direct.com Web Banking or Bill Payment services. However, all savings accounts (including statement savings and money market deposit accounts) are subject to federal regulations that limit the number of certain types of transfers from those accounts. Bill Payment transactions and funds transfers to your other accounts through Web Banking do count against the limited number of transactions on these accounts, although payments to your loan accounts with us are not counted toward the limit. Your ability to transfer funds from your accounts may also be subject to other legal restrictions and service charges under the Account Rules and Regulations. You should review those Rules and Regulations carefully for information regarding all applicable limitations and service charges.

Contacting Direct Federal by Electronic Mail (e-mail):

If you send Direct Federal an e-mail message, Direct Federal will be deemed to have received it on the following business day. Direct Federal will have a reasonable time period to act on your e-mail. You should not rely on e-mail if you need to communicate with us immediately. We request that you do not send us or request sensitive information such as account numbers, PINs, passcodes, account information, etc. via any public e-mail system. If you wish to contact us electronically, please use the "Contact Us" link on the Web Banking service. This link provides a secure form to e-mail Direct Federal regarding inquiries on your accounts.

Fees:

There is no charge for access to Web Banking or Visa Account Online.

There is no charge for the Bill Payment service if you have arranged for Direct Deposit to your Checking Account. If you do not use Direct Deposit, there is a $5 monthly access fee for the Bill Payment service beginning 2 months after you register for the Service.

Fees for Wire Transfers are disclosed in our Schedule of Fees brochure.

Fees applicable to your Direct Federal deposit or loan accounts under the terms of your account agreement or loan documents will continue to apply. The Credit Union's current individual service fees (such as fees for insufficient funds transactions and stop payment orders) are disclosed in our Schedule of Fees brochure.

Account Statements:

Unless you request otherwise, you will continue to receive regular account statements either monthly or quarterly, depending on the type of account and nature of transactions. Direct.com Web Banking, Wire Transfer, Visa and Bill Payment transactions will be itemized on the regular account statements.

You may elect to discontinue receiving paper statements and view your statements online. You do not forfeit any rights by electing to receive e-statements. All information that is included on paper statements is also included in an e-statement. You may also elect to discontinue receiving e-statements and resume receiving paper statements at any time.

In Case of Errors or Questions:

In case of errors or questions regarding your Direct.com Web Banking, Bill Payment, VISA Account Online, Wire Transfer or Deposit Account, contact our Call Center or write to us. Click here for contact information and hours.

We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. We will need:

Your name and account number.
A description of the error and explanation of why you believe it is an error.
The dollar amount of the suspected error and date on which it occurred.
If you tell us orally, 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 calendar days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 calendar days for the amount you think is in error, so that you will have the use of your 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 10 business days, we may not credit your account.

We will tell you the results within 3 business days after completing our investigation. If we determine 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.

Your Liability:

You will be liable for unauthorized Direct.com Web Banking, VISA Account Payment or Bill Payment or Wire Transfer transactions from your deposit account to the extent allowed by applicable federal and state law and this Agreement.

Tell us AT ONCE if you believe that any Account Number, PIN, Passcode or other access code you use for the Web Banking, Bill Payment or Wire Transfer service has been lost or stolen or used without your permission. Telephoning is the best way of keeping your possible losses down. Click here for contact information and hours.

If someone uses your PIN, Passcode or other access code without your permission for a transaction from which you receive no benefit and you have not yet notified us of the loss or theft of your code, you could lose the amount of the unauthorized transaction or $50, whichever is less

Also, tell us at once if your statement shows transfers that you did not make. 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 that we could have stopped someone from taking the money had you told us in time.

If you document a good reason (such as a long trip or hospital stay) that kept you from telling us, we may extend the time periods.

Our Liability:

If we do not complete a transfer to or from your account on time or in the correct amount according to this Agreement, we will be liable for your losses and 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 or if the transfer will go over the credit limit on any overdraft protection line attached to the account;
if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken;
if the Web Banking service was not working properly and you knew about the problem when you started the transaction.
if a technical malfunction exists on the Process Date; or
if funds are subject to legal process or other encumbrance restricting such transfer; or
if any other specific exceptions stated in this agreement are applicable.

Unless prohibited by applicable law, the foregoing shall constitute our entire liability and your exclusive remedy. In no event shall we be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits, arising in any way out of the installation, use, or maintenance of the equipment or software used to access the Direct.com Web Banking service or otherwise out of the Direct.com Web Banking, Bill Payment or Wire Transfer service.

Although Direct.com Web Banking and the services offered through it generally are available 24 hours per day, 7 days per week, some services and information may be interrupted from time to time as a result of system maintenance or failure. Direct Federal shall not be liable if you are unable to access Direct.com Web Banking or use any online service or if the information available through Direct.com Web Banking has not been updated for any reason.

We make no warranties, expressed or implied, with respect to the Direct.com Web Banking service including, without limitation, the warranties of merchantability and fitness of a particular purpose.

Your Ability to Stop Payment:

Your initiation of Web Banking, Wire Transfer, Visa Account payment, or Bill Payment transactions from your account will, except as otherwise provided in this Agreement, effectively eliminate your ability to stop payment of the transaction.

UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUND TRANSFERS. THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT.

Evidence:

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 the copy, microfilm, or microfiche will have the same validity as the original. Any documentation provided to you which indicates that an electronic fund transfer was made shall be admissible as evidence of such transfer and shall constitute prima facie evidence that such a transfer was made.

Virus Protection:

Direct Federal is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your personal computer using a virus protection product. An undetected virus may corrupt and destroy your programs, files and hardware.

No Signature Required:

When any particular payment or other on-line service generates items to be charged to your account, you agree that we may debit your Account without requiring your signature on the item, and without prior notice to you.

Disclosure of Information to Third Parties:

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

where it is necessary for completing the transfer;
where the other person is authorized by law to have access to our records in the course of their official duties;
to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
to comply with a court order or lawful subpoena;
to an auditor, attorney, or collection agent for the Credit Union;
to a service provider for the purpose of servicing your account; and
if you give us your written permission (provided that such permission shall expire after 45 days).

Inactivity and Termination of this Agreement:

You are responsible for complying with all the terms of this Agreement and with the terms and conditions of all other disclosures governing the deposit and loan accounts that you access using electronic banking services.

We can terminate all or any part of your electronic banking privileges under this Agreement (including Bill Payment, Wire Transfer and VISA Account Services) at any time and for any reason, with or without prior notice. Some of the reasons that we might terminate services include (but are not limited to):

You do not pay any fee required by this Agreement when due, or
You do not comply with the agreement governing your deposit or loan accounts or your accounts are not maintained in good standing.
You have a significant number of Bill Payment transactions returned during any 12-month period.
Activity that we believe may be fraudulent has occurred on your deposit or loan account.
You attempt to misuse any electronic banking service.
You do not access one or more of the services during any 90-day period.

You can also cancel the Direct.com Web Banking service and/or Visa Information Online or Bill Payment at any time. To cancel, you must notify Direct Federal and provide your name, address and whether you are discontinuing Direct.com Web Banking, Visa Account Online, Wire Transfer, Bill Payment, or all three, and the effective date to stop the service. Click here for contact information and hours.

When Bill Payment, Wire Transfer or Visa Information Online is terminated by either you or us, any future dated or recurring payments scheduled to be made through Direct.com Web Banking after the effective date of termination will be canceled. Your final charge for the Bill Payment Service will be assessed to your Checking Account at the end of the statement cycle in which termination became effective.

Direct Federal's Business Days:

Direct Federal's business days are Monday through Friday, excluding federal bank holidays.

Amendments:

This Agreement may be amended from time to time by Direct Federal or by mutual agreement of you and Direct Federal. We will give you notice of any amendment made by Direct Federal unilaterally that increases fees, reduces the types of transactions that are available, increases your liability, or imposes stricter limitations on transfers. Notice may be provided electronically or in writing.

Waiver; Invalid Provisions:

We may delay enforcing any of our rights without losing them. Any waiver of a right on any one occasion shall not constitute a waiver of that or any other right on any other occasion. Our remedies are cumulative, unless applicable law provides otherwise.

If any provision of this Agreement is determined to be unenforceable, such provision shall be ineffective only to the extent unenforceable, and the remainder of such provision and all other provisions of this Agreement shall remain in full force and effect.

(updated October 1, 2006)