Self-Enrollment: Disclosure

Home Banking and Bill Payment
Terms and Conditions

The following terms and conditions govern the manner in which Merck Sharp and Dohme Federal Credit Union (Us, We, Our) will provide Home Banking and Bill Payment Services (Services) to You:

A. Our Member Service Information:
Home Banking Member Service is available at (215) 996-3700. For a listing of support hours, please check our website at www.msdfcu.org. Bill Payment Member Service is available at (888) 503-1191.

Mail may also be addressed to:

Merck Sharp & Dohme Federal Credit Union
PO Box 127
335 W. Butler Avenue
Chalfont, PA 18914

or  info@msdfcu.org

B. General Information:
You may use Home Banking and Bill Payment virtually any time, day or night, 7 days a week to (1) check account balances, (2) transfer money from savings or checking account or make a loan payment, (3) transfer money from your line of credit, (4) check history on your accounts, (5) download account history to Your hard drive or to financial software such as Microsoft Money® or Quicken®, (6) pay most bills online and (7) obtain Credit Union product and service information. You authorize Us to utilize USERS and ORCC to provide the Services to You on Our behalf. Home Banking and Bill Payment may be temporarily unavailable due to Credit Union record updating or technical difficulties.

Payment of taxes or court-directed payments via the Services is prohibited. We reserve the right to refuse to make any payment and/or transfer. Funds will arrive at Your targeted Merchant and/or Account as close as reasonably possible to the date designated by You in Your payment and/or transfer instructions (Payment Date). Subject to the terms and conditions of this Agreement, You authorize Us, and any third party acting on Our behalf, to choose the most effective method to process Your payment and/or transfer; including, without limitation, electronic, paper or some other draft means. For each properly instructed payment to an eligible Merchant and/or transfer to a targeted Account, You will receive a transaction confirmation number (Confirmation Number). The Payment Date indicated by You must always be a Business Day (as defined below). If it is not, the Payment Date will be deemed to be the first Business Day after the date indicated.

C. Bill Payment Guarantee:
If a properly scheduled payment is not received and posted on time by the payee, we will attempt to have any late fees or assessed finance charges removed. (Finances charges are calculated based on your payment amount rather than your entire balance.) If the payee is unwilling or unable to remove them, we will pay the fees and finance charges directly to the payee. In addition, we will attempt to have your account noted appropriately to ensure that the situation does not negatively impact your credit rating.

The Payment Guarantee applies to late fees and/or finance charges associated with the late posting of a payment, provided that the following conditions are met: The payment was scheduled to be delivered on or before the due date of your bill, excluding any grace periods. (The one exception to this guideline is that mortgage payments may be scheduled so that the payment is sent on or before the due date, excluding grace periods. For example, a mortgage payment due on July 1st, with a 15-day grace period, must have a “Send On’ date no later than July 1st). The payment amount did not exceed $25,000. The payment was not made to an excluded payee: payments that failed due to insufficient funds or other reasons; payments to payees located in the Armed Forces Postal Codes such as AE and AP; payments to settle securities transactions; payments to payoff special or delayed financing for purchases; or payments to credit counseling agencies who pay creditors on your behalf. The payment was not made to a prohibited payee. Payments to the following payees are not permitted through this service: payments to payees outside the United States; court-ordered payments such as alimony, child support, speeding tickets, etc.; tax entities; or Collection Agencies. The information supplied by the user is correct (payee name and address, user name and account number as it appears on the payee's records).

D. Expedited Bill Payments Guarantee:
If a Properly Scheduled Expedited Payment (defined below) is not received and posted by the payee as of the scheduled payment date, you will not be responsible for any Penalties (defined below) that arise due to the failure of such payment to post on the scheduled date and we will refund you the service fee associated with such payment We will first attempt to have any such Penalties removed, and if the payee is unwilling or unable to remove them, we will pay the fees and finance charges directly to the payee. In addition, we will attempt to have your payee account noted appropriately to ensure that the situation does not negatively impact your credit rating. Penalties” are defined as late fees or finance charges that are assessed on the Properly Scheduled Expedited Payment amount that did not post on the scheduled payment date, not those based on your total outstanding balance.

A “Properly Scheduled Expedited Payment” is defined as a payment that: was made from an account that has sufficient funds for the payment and any fees associated with the payment; was scheduled to be delivered on or before the due date of your bill, excluding any grace periods. (The one exception to this guideline is that mortgage payments may be scheduled so that the payment is sent on or before the due date including grace periods. For example, a mortgage payment due on July 1st, with a 15-day grace period, must have a “Deliver By” date no later than July 15th.); the service indicates is deliverable on or prior to the applicable due date; was not made for any of the following types of transactions: payments that failed due to insufficient funds or other reasons, payments to settle securities transactions, payments to payoff special or delayed financing for purchases, payments to credit counseling agencies who pay creditors on your behalf, payments to payees outside of the United States, court-ordered payments such as alimony, child support, speeding tickets, etc., tax entities, or Collection agencies; the information supplied by you is correct (payee name and address, your name and account number as it appears on the payee's records); does not cause you to exceed any applicable risk management limits; was scheduled when the system was available; and the payment complies with the payee's policies.

E. Limitation:
Under no circumstances will We be liable if We are unable to complete any payments and/or transfers initiated in a timely manner via the Services because of the existence of any one or more of the following circumstances: You do not obtain Confirmation at the time You initiate a payment and/or transfer. The designated Account does not contain sufficient funds to complete the payment and/or transfer. You have closed the designated Account. We have identified You as a credit risk and have chosen to (i) make all payments and/or transfers initiated by You via the Services utilizing a paper, as opposed to electronic, method, or (ii) terminate Your subscription to the Services. The Services, Your equipment, the software, or any communications link is not working properly and You know or have been advised by Us about the malfunction before You execute the transaction. You have not provided Us with the correct information for those Merchants to whom You wish to direct payment or Accounts to which You wish to make a transfer. The Merchant mishandles or delays handling payments sent by Us. Circumstances beyond our control (such as, but not limited to, fire, flood, or interference from an outside source) prevent the proper execution of the transaction and We have taken reasonable precautions to avoid these circumstances.

WE ARE NOT RESPONSIBLE FOR ANY OTHER LOSS, DAMAGE OR INJURY, WHETHER CAUSED BY YOUR EQUIPMENT OR SOFTWARE, THE SERVICES, OR ANY TECHNICAL OR EDITORIAL ERRORS CONTAINED IN OR OMISSIONS FROM ANY USER GUIDE/BROCHURE RELATED TO THE SERVICES. WE SHALL NOT BE RESPONSIBLE FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE ARISING IN ANY WAY OUT OF THE INSTALLATION, USE OR MAINTENANCE OF YOUR EQUIPMENT, SOFTWARE OR THE SERVICES, EXCEPT WHERE THE LAW REQUIRES A DIFFERENT STANDARD.

F. Bill Payment “SEND ON” Date vs. “DELIVER BY” Date:
When scheduling a bill payment, note the difference between the “SEND ON” date and the “DELIVER BY” date. The “SEND ON” date is the date we will attempt to deduct the payment amount from your designated account. If the attempted deduction fails because you did not have enough funds in your primary account, we will send you an email indicating this situation. If the second attempted deduction is not successful, the transaction will be cancelled and you will be responsible for rescheduling. If the second attempted deduction is successful, the payment will be processed and remitted to the payee, however the “DELIVER BY” date will be one business day later. If you receive an email because the first attempted deduction was not successful, you should access the Bill Payment service to determine the date of the second deduction attempt.

If you schedule a payment with the “SEND ON” date as the current date, you must have adequate funds in your account at the time the payment is scheduled. The funds will be deducted shortly after you log out of the session. If you schedule a payment with the “SEND ON” date in the future, there must be adequate funds in your account when we attempt the deduction. This can occur anytime between 12:01 AM and 4:00 PM EST.

The “DELIVER BY” date is the date that you can expect the payee to receive your payment. The “DELIVER BY” date for your payment should be no later than the due date the payee has indicated for the payment.

G. Cancelling Bill Payments:

We may cancel a bill payment if we have reasonable belief that the payment is fraudulent. If we cancel a payment, we will attempt to contact you to inform you of this action. You may cancel an outstanding bill payment at anytime through the Bill Payment service. Bill payments are considered outstanding until the “SEND ON” date. You can cancel a “Recurring” transaction prior to the “SEND ON” date through the Bill Payment service.

H. Care of Your Password and Security:

By enrolling in Our Home Banking service, you agree to receive your periodic statements, notices, and disclosures in electronic form. You consent and agree to the following: You will provide us with an email address that will be used to send you all electronic statement related notifications. You will let us know immediately if this email address changes (see contact information below). You understand that you have no expectation of privacy if the notification is transmitted to an email address owned by your employer. You further agree to release Us from any liability if the information is intercepted by an unauthorized party at your employer or other email address selected by you. Upon receipt of your consent or by not changing your e-statement selection to “Mail” and using the email address you provide, we will send you notification of the availability of your periodic account statement each statement period (statement cycle), and you will be required to access Our Home Banking web site in order to view your statements. You will be required to enter your Home Banking logon and password to view the electronic statement(s) and images. It is your sole responsibility to protect your logon and password from unauthorized persons. Your consent to receive electronic statements shall remain in effect until revoked by you or until such time as your email address is deemed invalid or undeliverable. If you elect to revoke your consent to receive electronic statements you may do so from the "Preferences" page in Home Banking, or you may notify us via email at info@msdfcu.org or by telephone at 215-996-3700. If the revocation of your consent is received less than ten (10) days before the end of your normal statement cycle, it may not take effect until the following statement cycle. You may request a paper statement at any time (see Contact Information) for a fee, as noted on our fee schedule. All payments and/or transfers made via the Services will be listed on Your monthly account statement (eStatement) that you receive from Us.

I. New Services:
We may, from time to time, introduce new services or enhance the existing Services. We shall notify You of the existence of these new or enhanced services. By using these services when they become available, You agree to be bound by the obligations concerning these services, which will be sent to You.

J. Care of Your Password and Security:
You agree that You will not give your Services Password to any other person. If You believe that Your Password has been lost or stolen, or that someone has made payments and/or transfers using Your Password without Your permission, notify Us IMMEDIATELY by phone any time during Customer Service hours or send an electronic message to info@msdfcu.org.

K. Your Liability for Unauthorized Payments:
If you believe that your Password has been lost or stolen, notify Us IMMEDIATELY as provided above in order to keep your possible losses down. If you notify Us within two (2) Business Days after You learn of the loss or theft, your maximum liability is $50.00. If you do NOT notify Us within two (2) Business Days after You learn of the loss or theft of your Password, and We can prove that We could have prevented someone from using Your Password if You had told Us in time, Your maximum liability is $500.00. If your statement contains payments and/or transfers that You did not make, notify Us IMMEDIATELY. If You do not notify Us within sixty (60) days after Your Statement notification was emailed to You, You may not get back any of the money You lost if We can prove that We could have stopped someone from taking the money if You had told Us in time. If a good reason (such as a hospital stay or a long trip) prevented You from telling Us, We may, at Our discretion, extend the time.

L. Errors and Questions:
Contact Us as soon as possible at either the address or telephone number described above if You think that a payment and/or transfer listed on Your statement is in error or if You need more information about a payment and/or transfer listed on the Statement. We must hear from You no later than sixty (60) days after You receive the first Statement on which the problem or error appeared.

When You call or write Us, You must tell Us Your name and User ID, describe the payment and/or transfer You are unsure about (merchant name, account information, transaction date, transaction amount) and explain as clearly as You can why You believe it is an error or need more information. If possible, please provide Us with the Confirmation Number for such transactions. Tell Us the dollar amount of the suspected error. If You tell Us orally, or by using electronic mail, We may require that You send Your complaint in writing within ten (10) Business Days. We will tell You the result of Our investigation within ten (10) Business Days after We receive Your complaint and will correct any Services error promptly. If We need more time, We may take up to forty-five (45) days to investigate the complaint or question. If We decide to do this, We will re-credit Your Account within ten (10) Business Days after We hear from you, for the amount You think is in error in order that You may have the use of the money during the time it takes to complete Our investigation. If We ask You to put Your question or complaint in writing and We do not receive it within ten (10) Business Days, We may not re-credit Your Account. If We decide that there was no error, We will mail or transmit to You a written explanation within three (3) Business Days after We have completed the investigation, and within ten (10) Business days of the date of such explanation, We will debit Your account of the amount previously re-credited to You for use during the time We took to complete Our investigation. You may ask for copies of documents used during Our investigation.

M. Disclosure of Account Information to Third Parties:
We will only disclose information to third parties about Your Accounts: when it is necessary for completing payments and/or transfers; in order to comply with a government agency or court order; or if You give us Your permission.

N. Charges:
There may be certain fees and charges. Please refer to the Rate & Fee Schedule for the most accurate fee information. We will notify you of any changes as required by applicable law. You may pay all Service charges from a designated Account. In the event of Your failure to timely pay Us, You authorize Us to effect automatic payment from one of Your Accounts by electronic, paper or other draft means. In the event We are unable to process a Services transaction; (if, for example, there are insufficient funds in Your designated Accounts) the transaction will result in a "Failed Payment and/or Transfer." In such event, We will charge the total cost of the transaction, including any service charges, to You. In the event of repetitive Failed Payments and/or Transfers, We reserve the right to suspend Your subscription to the Services. This suspension may be without prior notice to You. If Your subscription is suspended, transactions which were previously initiated may still continue to be processed unless canceled and confirmation of such cancellation is provided as specified below. Suspension will be handled by Customer Service and all inquiries and correspondence relating thereto including requests for reinstatement should be directed to Customer Service. In the event Your subscription is suspended, We will notify You by mail to Your listed address. With respect to any Failed Payment and/or Transfer, You agree to reimburse Us within fourteen (14) days after notice is sent to You, for any funds We have already paid to one or more of Your designated Merchants which We were unable to recover by debit to the Merchant or charge to You. If You do not pay any amount owed to Us when due, You agree to pay interest on the unpaid balance at the rate of 18% per annum, or 1.5% per month (or the maximum rate allowed by applicable law, if less). In the event that Your claim or debt has to be referred to a third party for collection, You agree, to the extent permitted by law, to pay all costs and fees incurred in collecting the outstanding balances, including reasonable attorneys’ fees and court costs.

O. Additional Terms and Conditions:
You are responsible for complying with all terms of this Disclosure and applicable state and federal laws and regulations. We agree to be bound by them too. We reserve the right to terminate Your use of the Services, in whole or in part, at any time without prior notice. You may cancel Your subscription to the Services, upon thirty (30) days prior notice to Customer Service. You will be responsible for all payments and/or transfers You have requested prior to termination and for all other charges, fees, and taxes incurred.

BE SURE TO CANCEL ALL OUTSTANDING PAYMENT AND/OR TRANSFER ORDERS WITHIN THE 30 DAY NOTIFICATION PERIOD. WE WILL NOT BE LIABLE FOR PAYMENTS AND/OR TRANSFERS NOT CANCELLED OR MADE DUE TO YOUR ACTIONS RELATED TO SERVICE TERMINATION.

These Terms and Conditions and any applicable Services fees and charges may only be altered or amended by Us. In such event, We shall send notice to You at your listed address or transmit notice of the alteration or amendment over the Services. Your use of the Services following receipt of such notice constitutes acceptance of such alterations or amendments. In the event of a dispute regarding the Services, You and We agree to resolve this dispute by looking to these Terms and Conditions. These Terms and Conditions shall supersede any and all other representations made by You or Our employees. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.

Business Days are Monday through Friday excluding normal banking holidays.