PROCEDURES FOR ADDRESSING UNAUTHORIZED TRANSACTIONS AND OTHER TRANSACTION PROBLEMS. In the event of a problem with a debit card transaction, or unauthorized debit card transaction, other than a matter related to goods or services provided by Merchants, I will report the issue promptly to my credit union and the credit union will investigate and respond to the issue on a timely basis. You will not unreasonably restrict me from the use of any funds subject to dispute, provided that it is rea- sonably evident that I did not contrib- ute to the problem or unauthorized transaction. You will respond to my report of a problem or unauthorized transaction within 10 business days and will indicate what reimbursement, if any, will be made for any loss incurred by me. Reimbursement will be made for losses from a problem or unau- thorized use in this timeframe provided that on the balance of probabilities it is shown that I did not contribute knowingly to the problem or unauthorized transaction and that I took reasonable steps to protect the confidentiality of my PIN. An extension of the 10-day limit may be necessary if my credit union re- quires me to provide a written state- ment or affidavit to aid its investigation. If I am not satisfied with my credit union’s response, my credit union will provide me, upon request, with a written account of its investigation and the reasons for its findings. If I am not satisfied, the issue will be referred to either a credit union system dispute-resolution service or external mediator, as agreed between me and my credit union. Neither my credit union nor I will have the right to start court action until 30 days have passed since the issue was first raised with my credit union. Any dispute related to goods or services supplied in a point-of-sale transaction is strictly between me and the Merchant, and I will raise no defense or claim against my credit union. I acknowledge having been advised of, and will pay, the applicable fees now in effect for services available under this agreement. New or amended fees will only become effective 30 days after publication by my credit union. If the debit card is used in connection with a transaction in foreign currency, I understand that the rate of conversion into Canadian currency will be fixed according to the rules of the electronic network through which the transaction is conducted. A paper Transaction Record dispensed mechanically as a result of the use of the debit card constitutes a record of my instructions. Whether such a Transaction Record is issued or not, it is my responsibility to verify that the transaction has been properly executed by checking the periodic statement which itemizes transactions. In the absence of evidence to the contrary, the records of my credit union are conclusive for all purposes, including litigation, in respect of any instructions given by me to my credit union through the use of the debit card; the contents of any envelope deposited by me into an automated teller machine; the making of a withdrawal, deposit or transfer through the use of the debit card; and any other matter or thing relating to the state of accounts between me and my credit union in respect of any electronic transaction. This agreement replaces any prior agreement governing the use of the debit card and the PIN, but does not replace or supersede any agreement or provision of any agreement relating to any loan, credit product or the operation of any account. This agreement applies to any account specified in my Debit Card Agreement and, as well, to any other account designated by me from time-to-time for use in connection with the debit card. My credit union remains the owner of the debit card. It may restrict the use of the debit card, or may terminate this agreement and my right to use the debit card, at any time without notice. I will return the debit card to my credit union upon request. I understand that the credit union system, in concert with the banking industry, has endorsed the voluntary Canadian Code of Practice for Consumer debit card Services, a copy of which is available from my credit union on request, and credit unions will be guided by the principles of the Code in administering the operation of debit card matters.
Appears in 1 contract
Sources: Member Account Agreement
PROCEDURES FOR ADDRESSING UNAUTHORIZED TRANSACTIONS AND OTHER TRANSACTION PROBLEMS. In the event of a problem with a debit card transaction, or unauthorized debit card transaction, other than a matter related to goods or services provided by Merchants, I will report the issue promptly to my credit union and the credit union will investigate and respond to the issue on a timely basis. You will not unreasonably restrict me from the use of any funds subject to dispute, provided that it is rea- sonably reasonably evident that I did not contrib- ute contribute to the problem or unauthorized transaction. You will respond to my report of a problem or unauthorized transaction within 10 business days and will indicate what reimbursement, if any, will be made for any loss incurred by me. Reimbursement will be made for losses from a problem or unau- thorized unauthorized use in this timeframe provided that on the balance of probabilities it is shown that I did not contribute knowingly to the problem or unauthorized transaction and that I took reasonable steps to protect the confidentiality confidentiality of my PIN. An extension of the 10-day limit may be necessary if my credit union re- quires requires me to provide a written state- ment statement or affidavit affidavit to aid its investigation. DISPUTE RESOLUTION If I am not satisfied satisfied with my credit union’s response, my credit union will provide me, upon request, with a written account of its investigation and the reasons for its findingsfindings. If I am not satisfiedsatisfied, the issue will be referred to either a credit union system dispute-resolution service or external mediator, as agreed between me and my credit union. Neither my credit union nor I will have the right to start court action until 30 days have passed since the issue was first first raised with my credit union. Any dispute related to goods or services supplied in a point-of-sale transaction is strictly between me and the Merchant, and I will raise no defense or claim against my credit union. FEES I acknowledge having been advised of, and will pay, the applicable fees now in effect for services available under this agreement. New or amended fees will only become effective 30 days after publication by my credit union. FOREIGN CURRENCY TRANSACTION If the debit card is used in connection with a transaction in foreign currency, I understand that the rate of conversion into Canadian currency will be fixed fixed according to the rules of the electronic network through which the transaction is conducted. I understand that you only accept Canadian funds drawn on a Canadian financial institution, and I will not deposit foreign funds, including US dollars, into my Outlook account. EVIDENCE OF TRANSACTIONS A paper Transaction Record dispensed mechanically as a result of the use of the debit card constitutes a record of my instructions. Whether such a Transaction Record is issued or not, it is my responsibility to verify that the transaction has been properly executed by checking the periodic statement which itemizes transactions. In the absence of evidence to the contrary, the records of my credit union are conclusive for all purposes, including litigation, in respect of any instructions given by me to my credit union through the use of the debit card; the contents of any envelope deposited by me into an automated teller machine; the making of a withdrawal, deposit or transfer through the use of the debit card; and any other matter or thing relating to the state of accounts between me and my credit union in respect of any electronic transaction. SCOPE OF AGREEMENT This agreement replaces any prior agreement governing the use of the debit card and the PIN, but does not replace or supersede any agreement or provision of any agreement relating to any loan, credit product or the operation of any account. This agreement applies to any account specified specified in my Debit Card Agreement and, as well, to any other account designated by me from time-to-time for use in connection with the debit card. TERMINATION OF AGREEMENT My credit union remains the owner of the debit card. It may restrict the use of the debit card, or may terminate this agreement and my right to use the debit card, at any time without notice. I will return the debit card to my credit union upon request. CODE OF PRACTICE I understand that the credit union system, in concert with the banking industry, has endorsed the voluntary Canadian Code of Practice for Consumer debit card Debit Card Services, a copy of which is available from my credit union on request, and credit unions will be guided by the principles of the Code in administering the operation of debit card matters.. INTERPRETATION AND DEFINITIONS This agreement is intended to be interpreted in accordance with its plain English meaning. Except where otherwise indicated, capitalized terms are used in accordance with the definitions set out in the Canadian Code of Practice for Consumer Debit Card Services. For the purposes of this agreement, point-of-sale transaction means the use of the debit card to conduct a contact transaction with its associated PIN or a contactless transaction without the card’s associated PIN for such purposes as may be permitted from time-to-time by my credit union, including: (a) the transfer of funds from my account to purchase or lease goods or services from a seller, ▇▇▇▇▇▇ or service provider (a Merchant);
Appears in 1 contract
Sources: Member Account Agreement