Common Contracts

Electronic Funds Transfer Agreement and Disclosure

June 4th, 2015

• Filed
  June 4th, 2015

This Electronic Funds Transfer Agreement is the contract which covers your and our rights and responsibilities concerning the electronic funds transfer (EFT) services offered to you by Railroad & Industrial Federal Credit Union (credit union). In this agreement, the words “you” and “yours” mean those who sign the Application or Account Card as members, applicants, joint owners, or any authorized users. The words “we”, “us”, and “our” mean the credit union. The word “account” means any one or more share and share draft accounts you have with the credit union. Electronic Fund Transfers (EFTs) are payments to or withdrawals from your account which are initiated electronically. These types of transactions are sometimes called “paperless” transactions because they do not use checks or other paper instruments. By signing the Application or Account Card or using your Debit Card, Tel-R-Connect, PC Connect, Bill Pay or by initiating electronic deposits or withdrawals to your account, you agree