Automated Teller Machine Transactions Sample Clauses
The 'Automated Teller Machine Transactions' clause defines the rules and procedures governing the use of ATMs for conducting financial transactions. It typically outlines which types of transactions are permitted, such as cash withdrawals, deposits, balance inquiries, and fund transfers, and may specify any applicable fees or limits. This clause ensures that both the financial institution and the account holder understand their rights and responsibilities when using ATMs, thereby reducing the risk of disputes and promoting secure, efficient access to banking services.
Automated Teller Machine Transactions. If you selected a transaction option for one or more Authorized Users which permits transactions by automated teller machine (“ATM”), we will issue a PIN for use with those Cards. This will enable the Authorized User to obtain cash at any ATM displaying the Visa®, Star®, or Plus® logo. The number and amount of transactions which can be made in one day through ATMs will be restricted depending on the spending tier option you selected. All PINs must be kept in confidence by you and by the Authorized User. You agree to take all necessary steps and institute all appropriate precautions and security measures to protect and maintain the secrecy and security of each PIN. You further agree to instruct the Authorized Users concerning the proper business use of the Cards and the appropriate procedures which must be followed to maintain the confidentiality and security of the Cards and the associated PINs. If you or the Authorized Users permit someone to use a Card and associated PIN, you will be liable for all Card transactions and cash withdrawals which may result. All ATM transactions performed with the Cards are subject to the “Cut-Off” times established from time to time by the owners or operators of the ATM for processing ATM transactions, and any ATM transaction initiated after the “Cut-Off” time will be posted to your Account on the following business day. For purposes of calculating your daily ATM withdrawal limit for transactions conducted with the Card(s), we define our “day” as midnight to midnight.
Automated Teller Machine Transactions. If you have an Automated Teller Machine Card and/or Visa MoneyKey ATM/Check Card for which we have issued a PIN, you can use your card and PIN to make the following transactions in an automated teller machine. However, your card(s) may need to be reprogrammed by our Member Service Department in order to access all of these accounts: Deposits to your Business Share, checking, Hi-Yield or Hi-Yield Plus** account; Cash withdrawals from your Business Share, checking, Hi-Yield or Hi-Yield Plus ** account; Cash withdrawals from your Visa and Personal Pocketbook or Home Equity line-of-credit loan accounts with us*; Transfers (non-cash) between Business share, checking, Hi-Yield and Hi- Yield Plus ** accounts; Transfers (non-cash) from your Business Share, checking, Hi-Yield or Hi- Yield Plus ** accounts to your loan account(s)*** with us; Transfers (non-cash) from your Visa and Personal Pocketbook or Home Equity line-of-credit loan accounts with us to your Business Share, checking or hi-yield** account; Payments on loans by cash, check, draft, etc.*/***; Balance Inquiries on your Business Share, check, Hi-Yield, Hi-Yield Plus accounts**, and your Visa and Personal Pocketbook or Home Equity line of credit loan accounts*. * These are not “electronic fund transfers.” ** Hi-Yield and Hi-Yield Plus account access restricted to automated teller machines owned and operated by the Credit Union and ATMs in the Co-op Network. *** Loan payment transfers will be processed manually within two (2) “business days” of the transaction date and are restricted to ATMs owned and operated by the Credit Union. See Subsection V for our “business days.”