Online Banking Agreement

1. Agreement

This Agreement for Provident online banking is entered into between Provident Credit Union (the "Credit Union", "us" or "we") and any member of the Credit Union who subscribes to Provident online banking. The member is referred to in this Agreement as "you." The terms in this Agreement are in addition to the terms of any deposit accounts you have with the Credit Union and the terms of any credit agreements you have with the Credit Union.

2. Use of Online Banking

This Agreement contains the terms of your subscription to online banking. You should read this Agreement provided by the Credit Union before you use online banking. If you use online banking, or permit another to use online banking on your behalf, you agree to the terms stated in this Agreement. The Credit Union may suspend or terminate your online banking privileges at any time.

3. Online Banking Services

Provident online banking allows you to make transfers, inquiries, and loan advances on your Credit Union account through your personal computer. You will need a Password to use this service. If you are already an online banking user on June 4, 2008, your Password will be your existing online banking/Touch Tone Teller PIN. You will be able to change your Password online, but this will not change the PIN/Password used in Touch Tone Teller, Quicken® or other Personal Finance Managers.

4. Fees

There is no fee for the standard online banking service. Some features within online banking, such as Stop Payments and Check Ordering, can incur additional fees/charges.

5. Computer Requirements

You will need a computer, related equipment, and an Internet browser in order to use online banking. (In this agreement, your computer, the related equipment, and the Internet browser are referred together as your "computer.") You are responsible for the installation, maintenance, operation, and security of your computer, phone, or other Internet-capable device, and the Credit Union is not responsible for any computer virus or related problems that may be associated with the use of an online system, nor for the security or privacy practices of whatever Internet Service Provider (ISP) you use to connect to the Credit Union's servers.

6. Statements

You will receive monthly statements that reflect activity on your account, including online banking transactions. If you do not have electronic funds transfers you may only receive quarterly statements. When you enroll in online banking, you will automatically receive statements online (e-Statements), but you may opt out of this and have paper statements sent to your mailing address. When you subscribe to e-Statements, you will also automatically receive other electronic documents (e-Documents) through online banking, such as account notices. We will e-mail you each time a new statement or other electronic document is available in online banking. It is your responsibility to provide us with a current and valid e-mail address and to promptly inform us of any change in your e-mail address when you subscribe to e-Documents.

7. Password Security

To protect the privacy of your account, we recommend that you periodically change your Password. We also recommend that you do not write it down near your computer or disclose it to anyone. You agree not to give your Password to anyone not authorized to use your accounts. If you authorize anyone to use your Password, that authority will continue until you specifically revoke it by changing the Password or notifying us in writing.

If your Password is lost or stolen or if you suspect fraudulent activity, or if there has been unauthorized electronic funds transfers, you must notify the Credit Union at once. Telephoning us is the best possible way to minimize losses. Call us at (650) 508-0300 or (800) 632-4600, option 0. You can also notify us in writing at:

Provident Credit Union
P. O. Box 8007
Redwood Shores, CA 94063

Written notification must follow your original phone call within 10 business days.

Our business days are Monday through Friday, except for holidays we observe. Select branches are open for business on Saturdays. Call for locations and hours.

If you tell us within two days after you learn of the loss or theft of your Password, your liability will be limited to $50. If you do not tell us within 2 business days after you learn of the loss or theft of your Password and we can prove that your timely notification could have stopped someone from accessing your account without your permission, you could be liable for up to $500.

If your statement shows withdrawals or transfers that you did not make, notify us at once. If you do not notify us within 60 days after the paper or electronic statement is sent to you and we could have stopped someone from taking funds from your account if you had told us in time, you may not get any money lost after the 60 days. If extenuating circumstances, such as a long trip or hospital stay, kept you from informing us, the time periods in this section may be extended.

8. Check Orders

You can order checks on online banking through Deluxe. The price may vary depending on the style you choose. Prices are subject to change without notice. The charge will be taken from your checking account and will appear on your monthly statement. Because you will be ordering your checks directly from Deluxe you will be responsible for any errors made when placing the order.

9. Governing Law

This agreement is governed by and shall be construed in accordance with the laws of the state of California, except to the extent that federal law applies. It is also governed by the Credit Union bylaws and policies, which change from time to time.

10. Transaction Limitations

Your ability to transfer funds between certain accounts is limited by federal law, as stated in Provident's Master Account Agreement and Disclosure. You can make no more than six transfers from a savings or money market account during each calendar month; no more of three of these transfers can be made by check, ACH debit or point of sale. Transfers made using online banking are counted against the permissible number of transfers, as are the other methods listed in the Master Account Agreement and Disclosure.

Transfers involving credit cards may take 1-2 business days to process.

Transfers made from credit accounts are treated as cash and/or loan advances and are subject to the terms and conditions of the credit agreement.

The Credit Union reserves the right to limit the frequency and dollar amount of transactions from your accounts for security reasons.

11. Change in Terms

We reserve the right to make changes to this Agreement at any time. Unless the change has to be made immediately, we will inform you about any change that increases your expense or limits your use of electronic services in the Credit Union newsletter.

12. Error Resolution Procedures

In case of questions or errors about your electronic transactions, call us at (650) 508-0300 or (800) 632-4600. You can also write to us at:

Provident Credit Union
PO Box 8007
Redwood Shores, CA 94063

We must hear from you no later than 60 days after we sent you the first statement on which the problem or error appeared. If you call us, we will require you to send the complaint or question in writing within 10 business days. The following information should be included in the written notification:

  • Your name and member number
  • A description of the error or the transfer you are unsure of with an explanation as to why you believe there was an error or why you need more information
  • The dollar amount of the suspected error
  • Your signature

We will tell you the results of our investigation within ten business days from your report. We will correct any error promptly. If more time is needed, we may take up to a maximum of 45 days to investigate the complaint or question and resolve it. If we decide to do so, we will re-credit your account within 10 business days for the amount you think is in error, so you will have use of the funds during the time it takes 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 re-credit your account. If we decide that there was no error, we will send you a written explanation within three days after we finish the investigation. You may ask for copies of the documents we used in our investigation.

13. Stop Payments

On Line Stop Payments on a Check

We will accept stop payments online for single, paper check items or a consecutive series of checks drawn on your checking account. This feature does not apply to electronic or ACH debits or paper check items drawn on loan accounts or made through Bill Pay. All other stop payment requests may be made by calling (650) 508-0300 or 800-632-4600, or visiting one of our branches.

You are responsible for determining if the check you wish to stop has been paid prior to the date of your stop payment order. If you place a stop payment order on a check after it has been paid, a stop payment fee may be assessed and the check will remain paid.
A stop payment request will not be effective if we have already paid the check or do not have the reasonable opportunity to act upon it. Stop payment requests may take a business day to process.

Stop payments expire six months from the date when the order is processed, unless the order has been canceled or removed prior to that date. We do not give notice of expiration dates.

We will not be liable for payment if incorrect or incomplete stop payment information has been provided (even if the information is a close approximation).

There is a per item fee for placing stop payments. Stop payment requests for a consecutive series of checks will be treated as 1 item. Refer to the Service Charge Schedule for the current fee.

14. Transactions Available

You may use online banking to obtain account balances and account information for certain accounts, view online account statements (e-Statements), set up balance and other account alerts, transfer funds between certain accounts, view and/or pay bills from your checking account, request check withdrawals, re-order checks, send secured electronic mail to the Credit Union, receive secured electronic mail from the Credit Union, and manage your personal online and/or mobile security settings.

You may use online banking, in most cases, to link deposit accounts in which you have an unrestricted right to withdraw funds and credit/loan accounts in which you have an unrestricted right to borrow money and buy items on credit. However, the Credit Union reserves the right to deny online banking account linkage and account transactions. When you use online banking to make transfers from credit accounts, you agree that we may take any action required to obtain cash advances on your behalf, including charging your linked credit card account at the Credit Union without your signature.

15. Liability For Failure to Make Transfers

If we do not properly complete transactions according to our agreement with you, we may be liable for your losses or damages; however there are some exceptions. We will not be liable:

  • if you do not have sufficient funds in an account to complete the transaction, or if the account had been closed or if the money in the account is subject to legal process or other claim,
  • if you do not have an adequate credit limit on a credit/loan account to complete the transaction,
  • if the system was not working properly and you knew about the breakdown before you began the transaction,
  • if you have not give us complete, current and correct instructions to complete the transaction,
  • if circumstances beyond our control, such as fire, flood, electrical failure, or malfunction of the central data processing facility prevented the completion of the transaction, or
  • if there are other exceptions established by the Credit Union.

16. Electronic Funds Transfers

This is your Electronic Services Agreement and Disclosure. It includes necessary federal statements as required by the Electronic Funds Transfer Act (15 U.S.C. Section 1693 et seq) and Regulation E (12 CFR 205 et seq) and covers our PC Account Access System ("online banking").

This Agreement applies to any electronic funds transfer made to or from your account(s) by you or by any user who has access to your account with actual, apparent or implied authority for use of your Account. Electronic funds transfers to and from your account can be made through the use of online banking.

An electronic funds transfer is any transfer of funds other than by check or other paper instrument which is performed through the use of online banking. The use of your Password is subject to the following terms. You agree: (a) to abide by our rules and regulations as amended related to the use of your Password; (b) that we may follow all instructions given to us through online banking; (c) that each withdrawal by you or by any authorized user of your Password may be charged to your share or checking account, as appropriate, and will be treated as though it were a share withdrawal except that we may charge withdrawals to your account in any order we determine.

We may, but are under no obligation to do so, process an Electronic Funds Transfer that exceeds the balance in your share and/or checking account. In the event that any such transfer occurs, you agree to immediately pay us the overdrawn amount plus any associated fees and charges.

17. Account Access via Personal Finance Manager (PFM) Software

Online banking and Bill Manager through PFM such as Quicken® is inclusive of the terms and conditions of the Electronic Funds Transfer disclosure including but not limited to transaction limits, transaction processing and system availability.

18. Privacy

We will disclose information to third parties about your account or transactions you make when it is necessary to complete transactions; in order to verify the existence or condition of your account for a credit reporting agency or merchant; in order to comply with government agencies or court orders; or if you give us written permission.

19. Termination

You may terminate this Agreement or any service of this agreement at any time by giving us written notice. The Credit Union may also terminate this Agreement at any time.

Effective June 2008


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