THE EDUCATION CREDIT UNION

WEB BILL PAYMENT SERVICE TERMS & CONDITIONS

NOTE: All references within this document to the terms "Payment Service" reflect the Approved Third Party Vendor providing the Web Bill Payment Service offered by The Education Credit Union (TECU). All references within this document to the terms "you", "your", "I" and/or "my" refer to the member authorizing the Web Bill Payment Service.

Electronic Disclosure of the Terms and Conditions Agreement for the Web Bill Payment Service

I acknowledge electronic receipt of the Terms and Conditions Agreement ("Agreement") associated with TECUís Web Bill Payment Service and agree that I have read and will abide by this Agreement. I also agree that TECU does not need to provide me with an additional, paper (non-electronic) copy of this agreement unless specifically requested. Further, I understand that by using my browserís print command and a printer I can print a copy of this Agreement.

Use of a Third-Party Web Bill Payment Service Provider

Payment Service is the third party Web Bill Payment Service provider who TECU has contracted to provide Web Bill Payment Service to its members. Payment Service will process bill payments and answering questions directly related to these member-initiated bill payments. TECU, at its sole discretion, reserves the right to change Web Bill Payment Service providers.

Enrollment Request for the Web Bill Payment Service

TECU reserves the right to refuse enrollment in the Web Bill Payment Service to any member who does not meet the Web Bill Payment Service criteria which has been established by TECU and/or Approved Third Party Vendor.

Web Bill Payment Service

As used in this Agreement, the term "Payee" means the vendor, biller, person or entity to whom you wish a bill payment to be directed; "Payment Instructions" means the information provided by you to the Payment Service for a bill payment to be made to your Payee (e.g., Payee name, account number, payment amount payment date, etc.); "Payment Account" means your Share Draft Account and, in the instance of non-sufficient funds and/or an overdrawn account, any applicable share account or available balance on line of credit accounts at TECU, from which all bill payments may be made and/or such funds collected; "Business Day" means Monday through Friday, excluding Federal holidays; Scheduled Payment Date" means the Business Day of your choice upon which your bill payment will be made and your Payment Account will be debited; and "Cutoff Time" means 10:00 p.m., Central Standard Time on any Business Day, and is the time by which you must transmit instructions to have them considered entered on that particular Business Day.

By providing the Payment Service with the names and account information of those entities and/or persons to whom you wish to direct payment, you authorize the Payment Service to follow the Payment Instructions that it receives from you or your authorized user through the Web Bill Payment Service. When the Payment Service receives a payment instruction, you authorize it to debit your Payment Account and remit funds on your behalf so that the funds arrive as close to the Business Day designated by you as reasonably possible.

Payments and Transfers from my credit union accounts may be processed in three different ways: "Today": If I designate a bill payment as a "Today" transaction, the processing date will be the next business day. Sufficient available funds must be available at the time I request the transaction. "Today" payments may not be canceled for any reason once I have ended an Access Point session. All transfer transactions are immediately deducted from my account.

"Future": If I designate a payment as a "Future" transaction, I may request that the transaction be made on a future date that I may designate up to 365 days in advance. The processing date will be the effective date I entered, or the next business day, should the effective date fall on a weekend or holiday. Sufficient funds must be available by midnight of the night before the processing date, but will be deducted from my account on the actual processing date. "Future" transactions may be canceled or changed until 10:00 P.M. of the night before the processing date.

"Recurring": If I designate a payment as a "Recurring" transaction, I may request that the transaction be made in the same amount to the same merchant or account on a specified regular, periodic basis (i.e. weekly, bi-weekly, monthly, etc). I will designate a "start" and "end" date. The processing date will be the effective date I entered, or the next business day should the effective date fall on a weekend or holiday. Sufficient funds must be available by midnight of the night before the processing date, but will be deducted from my account on the actual processing date. "Recurring" transactions may be canceled or changed until 10:00 P.M. of the night before the processing date.

Stopping or Modifying Access Point Authorized Payments:

Payments designated as "Today" transactions cannot be stopped, cancelled, or changed once my Access Point session is terminated. In order to request a stop payment or change an Access Point transaction designated, I must contact Payment Service customer service at 1.800.825.4321.

Web Bill Payments:

All payments I make through Web Bill Payment Service will be deducted from my designated checking account. Any payee I wish to pay through Web Bill Payment Service must be payable in U.S. Dollars. Each payee must appear on the payee list I create with you and the account I am paying must be in my name. I may not use Web Bill Payment Service to make payments to a federal, state or local government or tax unit, or to other categories of payee that you may establish from time to time.

I must allow sufficient time for the payee to receive and process the payment before the payment due date (the due date shown on my invoice or provided in my agreement with payee, not taking into account any grace period provided by the payee). If I do not allow sufficient time, I will assume full responsibility for all late fees, finance charges, or other actions taken by payee. IMPORTANT: Payments may take up to 10 days to reach the vendor (payee), as they are sent either electronically or by check. TECU is not liable for any service or late charges levied against me.

TECU is responsible only for exercising ordinary care in making payments upon my authorization and for mailing or sending a payment to the designated merchant. TECU is not liable for any damages I incur if I do not have sufficient funds in my account to make the payment on the processing date, if the estimated time to allow for delivery to the payee is inaccurate, or due to delays in mail delivery, changes of merchant address or account number, the failure of any merchant to account correctly for the payment in a timely manner, or for any other circumstance beyond the control of TECU.

A written notice will be sent to me of transactions you are unable to process because of insufficient available funds. In all cases, I am responsible for either making alternate arrangements for the payment, or rescheduling the payment through Web Bill Payment service. Insufficient available funds will prevent me from making more payments until resolved.

I authorize TECU, and any Payment Service acting on TECUís behalf, to choose the most effective method to process my payments. I will receive a transaction confirmation number for each properly instructed payment.

TECU reserves the right to refuse to make any payments, but TECU will notify you by first class mail at last known address of any such refusal within three (3) business days following receipt of your process date.

The Payment Service will use its best efforts to make all your payments properly. However, the Payment Service shall incur no liability if it is unable to complete any payments initiated by you through the Payment Service because of the existence of any one or more of the following circumstances:

    1. If, through no fault of ours, your Payment Account does not contain sufficient funds to complete the payment or transfer, or the transfer would exceed the credit limit of your overdraft account;
    2. The bill payment processing center is not working properly and you know or have been advised by the Payment Service about the malfunction before you execute the transaction;
    3. The Payee mishandles or delays a payment sent by the Payment Service;
    4. You have not provided the Payment Service with the correct names, phone numbers, or account information for those persons or entities to whom you wish to direct payment;
    5. Circumstances beyond the Payment Service's control (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Payment Service has taken reasonable precautions to avoid those circumstances.

Provided none of the above five (5) exceptions to the Payment Service performance obligations are applicable: (1) If the Payment Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a person or entity which does not comply with your Payment Instructions, you may contact TECU. TECU will follow National Automated Clearing House Association (NACHA) rules to resolve the transaction; (2) If you cause an incorrect amount of funds to be removed from your Payment Account or cause funds from your Payment Account to be directed to a person or entity which you did not intend, you will contact that person or entity to resolve the transaction.

Payment will be made to your Payee either electronically via the Automated Clearing House (ACH) or by check or laser draft. The method of payment depends upon the processing method that can be accommodated by the Payee or Payment Service (e.g., some Payees are unable to accept electronic payments).

Prohibited Payments

The following payment types are prohibited through the Payment Service:

  1. Tax Payments
  2. Court Ordered Payments
  3. Payments to Payees outside of the United States or its possessions/territories as detailed in the Payee Limitations section of this Agreement.

THE FOREGOING SHALL CONSTITUTE THE PAYMENT SERVICE'S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL THE PAYMENT SERVICE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR MAINTENANCE OF THE EQUIPMENT, SOFTWARE, AND OR THE PAYMENT SERVICE.

EXCLUSIONS OF WARRANTIES

TECU AND THE PAYMENT SERVICE AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

Password and Security

You agree not to give or make available your E-Branch User Name and Password or your Web Bill Payment User Name and Password to any unauthorized individuals. You are responsible for all bill payments you, and your Web Bill Payment Authorized User, authorize using the Payment Service. If you permit other persons to use the Payment Service or your E-Branch Account Access User ID and Password (even though you have agreed not to disclose this information) or your Web Bill Payment Password, you are responsible for all transactions they authorize. If you believe that your TECU E-Branch Account Access and/or your Web Bill Payment Password(s) has been lost, stolen or compromised, or that someone may attempt to use the Payment Service without your consent or has transferred money from your account by accessing your account without your permission, you must notify TECU at once by calling us at 1-806-358-7777.

You also agree that TECU may revoke your Web Bill Payment and/or E-Branch Account Access services if unauthorized account access and/or transactions occur as the apparent result of negligence in the safeguarding of the User ID and Password(s) belonging to you and/or your authorized user. Further, you agree that, if TECU is notified that you have included TECU in the filing of a petition of bankruptcy, TECU may revoke or refuse to grant you Web Bill Payment Service and/or E-Branch Account Access to your account.

Your Liability for Unauthorized Transfers

If you tell TECU within two (2) Business Days after you learn of unauthorized access to your account(s) and/or that your E-Branch Account Access User ID and Password and/or your Web Bill Payment Password has been lost, stolen or compromised, you can lose no more than $50.00. If you fail to notify TECU within two (2) Business Days after you learn of unauthorized access to your account(s) and/or that your E-Branch Account Access User ID and Password and/or your Web Bill Payment Password has been lost, stolen or compromised, and TECU can prove that TECU could have prevented the unauthorized access to your account(s), or use of your E-Branch Account Access password and/or your Web Bill Payment Password, had you notified us, you could lose as much as $500.00. If your monthly statement or your online account detail reflect any transfers or payments that you did not make, tell us at once. If you do not tell us within sixty (60) days after the first statement that reflected an unauthorized transfer(s) or payment(s) was mailed to you, you may not get back any money you lost after the 60 days, provided that TECU can prove that TECU could have stopped someone from taking the money if you had told us in time.

Errors and Questions

In case of errors and questions about your electronic transfers or payments, you should:

  1. Telephone us toll free at: 1-800-687-8144
  2. Write us at:
    The Education Credit Union
    4400 W Interstate 40
    Amarillo, TX 79106-5940
    Attn: Information Systems Department

as soon as you can. If you think that your statement is wrong or you need more information about a bill payment listed on the statement, TECU must hear from you no later than (60) days after you received the FIRST statement on which the problem or error appeared. You must:

  1. Tell us your name and account number.
  2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information, and
  3. Tell us the dollar amount of the suspected error.

If you tell TECU orally in person or by telephone, TECU may require that you send us your complaint or question in writing within ten (10) Business Days after providing verbal notification. TECU will tell you the results of our investigation within ten (10) Business Days after TECU hear from you, and will correct any error promptly. If TECU need more time, however, TECU may take up to 45 days to investigate the complaint or question. If TECU decide to do this, TECU will re-credit your account within ten (10) Business Days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If TECU ask you to put your complaint or question in writing and TECU do not receive it within ten (10) Business Days, TECU may not re-credit your account.

If TECU determine there was no error, TECU will send you a written explanation within three (3) Business Days after TECU finish the investigation. You may ask for copies of documents, which TECU used in our investigation. TECU may revoke any provisional credit provided to you if TECU find that an error did not occur. You may ask for copies of the documentation that TECU used in our investigation.

Disclosure of Account Information to Third Parties

It is our general policy to treat your account information as confidential. However, TECU will disclose information to third parties about your account or the transfers you make ONLY in the following situations:

  1. If TECU return transfers or payments made from your account which are drawn on insufficient funds or if TECU are unable to complete an electronic transfer or payment because of insufficient funds, or
  2. Where it is necessary for completing transfers, or
  3. In order to verify the existence and condition of your account to a third party, such as a credit bureau or merchant, or
  4. To a consumer reporting agency for quality assurance survey/research purposes only, or
  5. In order to comply with a governmental agency or court orders, or
  6. .If you give us your written permission.

Charges or Fees

You will be charged per month for the Web Bill Payment Service as disclosed in the Rate and Fee schedule. The fee will be charged regardless of whether the Payment Service was used during the billing cycle. You agree to pay such charges and authorize the Payment Service to charge your designated Payment Account for these amounts and any additional charges that may be incurred by you. Any fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees or Internet service fees that may be assessed by your telephone and/or Internet service provider.

 

In the Event a Web Bill Payment Service Transaction Is Returned and/or Overdraws Your Payment Account

In using the Payment Service, you are requesting the system to make payments for you from your Payment Account. If TECU are unable to complete the transaction for any reason associated with your Payment Account (for example, there are not sufficient funds in your Payment Account to cover the transaction), the transaction may not be completed. In some instances, you will receive a return notice from TECU. In these cases, you agree that a non-sufficient funds (NSF) fee will be charged in accordance with TECU's established and published service fees. Further, you also agree that a NSF fee may be charged to your account even if the payment is not returned but is paid and overdraws your payment Account.

By enrolling for and using this Web Bill Payment Service you agree that TECU has the right to collect funds from all of your share accounts as well as the available balance on your line of credit accounts to recover funds for all payments that have been requested to be paid by you and your authorized user; this includes accounts on which you are the primary member-owner, as well as accounts on which you are the joint owner.

Alterations and Amendments

The terms of this Agreement, applicable fees and service charges may be altered or amended by the Payment Service from time to time. In such event, the Payment Service shall send notice to you at your address of record or by secure electronic message via the

E-Branch Account Access. Any use of the services after the Payment Service sends you a notice of change will constitute your agreement to such change(s). Further, the Payment Service may, from time to time, revise or update the programs, services, and/or related material which may render all such prior versions obsolete. Consequently, the Payment Service reserves the right to terminate this Agreement as to all such prior versions of the Web Bill Payment programs, services, and/or related material and limit access to the Payment Service's more recent revisions and updates.

Address Changes

You agree to promptly notify both TECU and Approved Third Party Vendor in writing of any address change. Changing your address on the Payment Service does not automatically update your address of record at TECU. Similarly, updating your address at TECU does not automatically update the address on the Payment Service.

Termination or Discontinuation

In the event, you wish to discontinue the Payment Service, you must contact TECU within 10 days prior to the actual service discontinuation date. You must request the service discontinuation via the Web Bill Payment secure message system or by written correspondence sent via the mail. Written notice must be signed and sent to:

The Education Credit Union

4400 W Interstate 40

Amarillo, TX 79106-5940

Attn: Information Systems Department

TECU may terminate Web Bill Payment Service to any individual at any time with or without cause and without advance notice. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.

Payee Limitations

The Payment Service reserves the right to refuse to pay any person or entity to whom you may direct a payment. The Payment Service is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. This notification is not required if you attempt to pay tax or court-related payments or payments outside the United States and its possessions/territories (American Samoa, Guam, Marshall Islands, Micronesia, N. Mariana Islands, Palau, Puerto Rico and the Virgin Islands), which are prohibited under this Agreement.

Information Authorization

Through your enrollment in the Web Bill Payment Service, you agree that TECU (or its Payment Service) reserves the right to request a credit agency report and/or a review of your credit rating at its own expense through an authorized credit agency/bureau. In addition, you agree that the Payment Service reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems.

Disputes

In case of a dispute regarding the Payment Service, you and the Payment Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Payment Service which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Payment Service relating to the subject matter of this Agreement. If there is a conflict between what one of the Payment Service's employees says and the terms of this Agreement, the terms of this Agreement shall control.

Assignment

You may not assign this Agreement to any other party. The Payment Service may assign this Agreement to any future, directly or indirectly, affiliated company. The Payment Service may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third-party service providers.

No Waiver

The Payment Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Payment Service. No delay or omission on the part of the Payment Service in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Captions

The captions of Sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions for this Agreement.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, United States of America, without regard to its conflicts of law provisions.