COB EASY ACCESS REGULATIONS
Table of Contents
COB EASY ACCESS REGULATIONSTERMS OF THIS AGREEMENT “Agreement” means the agreement between the city of Bridgetown Co-operative Credit Union Ltd. and the Account Holder(s) the terms of which are included therein and which may be varied by the Credit Union from time to time. “The Account” refers to an account maintained by the Account Holder(s) with the City of Bridgetown Co-operative Credit Union Limited (hereinafter referred to as the Credit Union) which may be accessed using a Debit Card. “Biller” means a company or entity that makes out bills for payment. “Debit Card” means your COB Easy Access Debit Card inclusive of card number, and any other card the Credit Union indicates to be subject to this Agreement when it is issued to you. The Debit Card will hitherto be called the COB Easy Access Debit Card. “The Account Holder” refers to the person(s) in whose name the Account is established or, in the case of a Joint Account, only Joint or Account Holders are eligible to be COB Easy Access Debit Cardholders and the liability of such persons shall be joint and several. “Cardholder” means the Account Holder(s) for whose use a COB Easy Access Debit Card is issued by the Credit Union. “PIN” means the confidential Personal Identification Number for your COB Easy Access Debit Card “POS” means Point of Sale allowing for electronic transactions with the use of your COB Easy Access Debit Card. “Card transaction” means any cash obtained by the use of the COB Easy Access Debit Card, and any payment made or transaction done through the use of this Card, or authorized in any manner by the Card holder. “Validity Period” referes to the period assigned to a specific COB Easy Access Debit Card for Validity by the credit Union.
USE OF COB EASY ACCESS DEBIT CARDThis Agreement sets out the terms that apply when you use your COB Easy Access Debit Card. It replaces any earlier agreement between you and the Credit Union governing COB Easy Access Debit Cards and it also applies to any replacement COB Easy Access Debit Card the Credit Union may issue to you. With this Agreement you promise to be responsible for the custody of your COB Easy Access Debit Card and PIN. This Agreement advises you about your rights and responsibilities so you should read it carefully. By selecting a PIN, signing, activating or using a COB Easy Access Debit Card means that you have received, read and accepted this Agreement and agree to be bound by its terms and conditions. You will use your COB Easy Access Debit Card and PIN according to the terms of this Agreement and any other terms or conditions that the Credit Union may implement and advise you of from time to time.
MEMBER RIGHTS AND RESPONSIBILITIES OF USING YOUR COB EASY ACCESS DEBIT CARDThe COB Easy Access Debit Card must be signed by the Cardholder in the space provided for signature immediately on receipt of the same and may be used for any purpose agreed to including: •To pay for goods and services at a store or merchant that has POS or other designated card terminals that accept debit card payments. •To make cash withdrawals, bill payments, balance inquiries, deposits, or transfer funds between your accounts at any COB ATM. •To make cash withdrawals and balance inquiries from ATMs at banks locally and other credit unions. You agree not to use your COB Easy Access Debit Card for any illegal, improper or unlawful purpose. Your COB Easy Access Debit Card remains the property of the Credit Union. The Credit Union may from time to time prevent your COB Easy Access Debit Card from being used for certain types of transactions as determined by us, including transactions connected with internet gambling. The Credit Union will treat your PIN as your authorization whenever it is used with your COB Easy Access Debit Card and any instructions received or transactions completed using your COB Easy Access Debit Card with your PIN will have the same legal effect as if you signed a written authorization to the Credit Union. You will have the same rights and responsibilities for these transactions as if you had used your Debit Card with your PIN.
PERSONAL IDENTIFICATION NUMBERThe Credit Union will advise you how to select your PIN and how to change it. We will also advise you which Accounts you may access with your COB Easy Access Debit Card and PIN. It is important to protect the security Easy Access Debit Card at all times. Select a PIN which cannot be easily guessed. PIN combination selected from your name, date of birth, telephone numbers or address must not be used. No one else is permitted to know or use your PIN but you. If someone obtains your COB Easy Access Debit Card and your PIN enabling them to be used together, you will be liable for their use of your COB Easy Access Debit Card.
AUTHORIZATIONBy using your Easy Access Debit Card to conduct a transaction, you authorize the Credit Union to debit or credit institut ion at the time the transaction is carried out using the COB Easy Access Debit Card and PIN. You also authorize the Credit Union to debit your Account with any service fees applicable to the transaction carried out.
PROTECTING YOUR DEBIT CARD AND PINYou are responsible for taking reasonable precautions to keep your COB Easy Access Debit Card and PIN safe. These precautions include:
•Always make sure that you can see your COB Easy Access Debit Card at all times when you are using it for a POS transaction.
•Keep your COB Easy Access Debit Card in a safe place and never let anyone else use it.
• close family members or friends.
•If you suspect that someone knows your PIN, immediately change it at your branch or call us and the Credit Union will deactivate your COB Easy Access Debit Card.
•Use your free hand or body to shield the entry of your PIN at ATMs and payment terminals.
•Do not accept assistance from anyone at the ATM. You should not ask anyone to conduct a transaction for you.
•Always remember to retrieve your COB Easy Access Debit Card and transaction record after every ATM and POS transaction.
•Regularly check your Account statements and balances to verify all transactions have been properly recorded. If entries do not accurately reflect your transaction activities, such as missing or additional transactions, you should visit your branch or contact the Credit Union immediately.
•Do not write your PIN on your COB Easy Access Debit Card.
LOST OR STOLEN DEBIT CARDYou must notify the Credit Union as soon as you are aware that your COB Easy Access Debit Card is lost or stolen, or as soon as you suspect that someone else is using your COB Easy Access Debit Card or knows your PIN, or you suspect that your COB Easy Access Debit Card is missing. You may contact us by visiting or calling your local branch or by calling the Contact Centre. You will not be responsible for any transactions resulting from the loss or theft of your COB Easy Access Debit Card that are done after you have timely informed us of the loss or theft. If the Credit Union issues a COB Easy Access Debit Card to replace a lost, stolen or misused card, then a fee will apply. The Credit Union reserves the right to adjust this fee at its discretion.
VALIDITYYour COB Easy Access Debit Card will be valid until the expiry date shown on the front except where cancelled in accordance with this Agreement.
LIMITSThe Credit Union may set limits to the use of your COB Easy Access Debit Card. These limits may be adjusted from time to time. Some of these limits will be daily limits with respect of the maximum amount you can withdraw in cash, or the limit for purchases or other transfers from your Accounts using your COB Easy Access Debit Card in any one day. The Credit Union will advise you of your current limits when you receive your COB Easy Access Debit Card. Use of the COB Easy Access Debit Card is limited to the credit balance allotted and any undrawn facility on the Account as at the end of the previous business day.
LIABILITY FOR LOSSESThe Cardholder is liable for all losses incurred by the Credit Union in connection with the use of its COB Easy Access Debit Card. Further where there is more than one Cardholder, (joint Or accounts) the liability of the Cardholders shall be joint and several. All fees and expenses incurred by the Credit Union in recovering any indebt- edness owed arising from the use of the Card are the responsibility of the Cardholder. The Cardholder is also liable for all losses that result from the use of the COB Easy Access Debit Card in the below situations:
•Authorizing someone else to use your COB Easy Access Debit Card;
•Making an entry error such as pressing the wrong key at an ATM or POS terminal;
•Fraudulent or worthless deposits or transfers;
When you contribute to someone else’s unauthorized use by:
•Voluntarily disclosing your PIN to someone else;
•Writing your PIN on or near your COB Easy Access Debit Card or choosing a PIN that is easily guessed (see Personal Identification Number section of this Agreement);
•Failing to notify the Credit Union within a reasonable time when your COB Easy Access Debit Card is lost, stolen or that you suspect that someone else is using your COB Easy Access Debit Card or knows your PIN
•Without prejudice to the above, if you fail to take reasonable precautions to prevent your COB Easy Access Debit Card and PIN safe.
LIABILITY MAY EXCEED ACCOUNT BALANCEThe Cardholder’s liability for losses may exceed the Account balance or available funds on the Account. the Cardholders’s Liability will also exceed the account balance for losses that result from fraudulent or worthless worthless deposits being made at an ATM.
VERIFICATION AND RECORDSAll transactions carried out using your COB Easy Access Debit Card and PIN, including deposits of cheques, eht fo sliated eht fo noitanimreted sti dna NIP dna draC tibeD sseccA ysaE BOC ruoy fo esu eht gniwohs sdrocer use, will be considered correct and binding on you. Transaction records of your Debit Card and PIN use are issued to help you with your Account reconciliation. If you do not agree with the particulars shown on a record, the Credit Union will review its records to resolve the discrepancy.
INTERPRETING AND ENFORCING THIS AGREEMENTThis Agreement will be interpreted in accordance with the laws of Barbados and the Credit Union’s bylaws. In the event of a dispute, you agree that the court of Barbados shall be competent to hear such dispute and you agree to be bound by any judgment of that court.
PROBLEMS WITH MERCHANTS/LIMITATION ON OUR LIABILITIESThe Credit Union is not responsible for problems the Cardholder may have with purchases using the COB Easy Access Debit Card for POS transactions. The Credit Union does not undertake that the facilities available to you as a result of arrangements between the Credit Union and third parties not affiliated with the Credit Union will continue indefinitely and will not be held liable for the cessation of any such arrangement. the Credit union is also not responsible for any problems you may encounter with the Biller when you use your COB Easy Access Debit Card to pay a bill. You must settle any such problem directly with the merchant or Biller.When you make bill payments at one of our ATMs or branches, you are responsible for ensuring that all Biller information (including account numbers and payer names) required by us to complete your payment instructions to that Biller is accurate at all times.
The Credit Union will not be liable if an ATM or a merchant does not accept your COB Easy Access Debit Card or you cannot use your Debit Card for any reason, Including where the Credit Union cancels or temporarily de-activates your Debit Card or declines a transaction because of unusual activity on your Account or in the use of the Debit Card. The Credit Union is not responsible if a Biller charges you late fees or interest penalties.
SERVICE CHARGESYou agree to pay any applicable service fee, including the service fees that may be imposed by any third party for using their ATM or POS.
CONTACTING US ABOUT A PROBLEMIf you have any questions or concerns about this Agreement, please visit or call your local branch or call the Contact Centre. The Credit Union has a complaint/dispute resolution procedure in place for dealing with these problems and this will be shared with you. If you contact us to report an unauthorized transaction where your COB Easy Access Debit Card has been used, we will respond to you as soon as possible and no later than ten (10) business days, informing you of our decision as to whether or not we hold you responsible. During this time, we will not unreasonably restrict your access to funds that are the subject of the dispute.
ADDING OR CHANGING TERMS OF THIS AGREEMENTThe Credit Union may add or change terms of this Agreement at any time. Additions or changes will be communicated to you at least thirty (30) days before they take effect. The Credit Union will notify you of any such additions or changes in the following ways: by sending you a notice (written or electronic), by posting a notice in all of our branches, by displaying a notice at our ATMs, or by notice on our public internet sites. Written notices will be sent to the address shown in our records. Any such notice to you will be deemed to have been received by you seven (7) days after the notice was posted on our ATM screens, or on our public internet sites or sent to your address. Use of your COB Easy Access Debit Card after the effective date of a change, will be deemed as acceptance of the changes.
TERMINATING THIS AGREEMENTIf you contravene any part of this Agreement, if the Credit Union is required by law, or if the Credit Union suspects that your COB Easy Access Debit Card is being used by someone else or has been or may be used to commit a fraud, the Credit Union may restrict or discontinue the use of your COB Easy Access Debit Card or terminate this Agreement at any time without prior notice to you. Where the Credit Union restricts or discontinues the use of your COB Easy Access Debit Card or terminates this Agreement we will advise you as soon as possible. In all other cases, you may terminate this Agreement at any time by giving notice in writing. If this Agreement has ended, your obligations continue until they have been completely satisfied. The COB Easy Access Debit Card will at all times remain the property of the Credit Union and on the Credit Union’s request all cards issued for use under this Agreement must be immediately returned to the Credit Union or any authorized person acting on behalf of the Credit Union.
TRANSACTIONS IN A FOREIGN CURRENCYWhen you use your COB Easy Access Debit Card to make a withdrawal or make a purchase in currency other than the currency of your Account, we will convert the amounts withdrawn and any associated charges imposed by any third party for the use of the ATM or POS terminal, to the currency of your Account when the funds are deducted from your Account. These amounts will be converted to the currency of your Account no later than the date the Credit Union posts the transaction to your Account at the rate of exchange determined by us on the day the transaction is posted to your Account.
PROTECTING YOUR PRIVACY – COLLECTION AND USE OF CUSTOMER INFORMATION
Collecting your informationcourse of our relationship such as:
•information regarding establishing and maintaining your identity (for example, name, address, telephone number, date of birth, etc.),occupation and type of business (if any).
•information related to transactions regarding your relationship with and through the Credit Union and/or received by the Credit Union from other financial institutions.
•information you provide on an application for any of our products and services.
We may obtain this information from a variety of sources, such as from service arrangements you make with or through us, from credit reporting agencies and financial institutions (including correspondent banks), from registries, from your references and from other sources as the Credit Union deems necessary for the provision of our products and services and in compliance with the law. By signing this agreement, you acknowledge that from time to time the Credit Union may obtain information from credit reporting agencies.
Using your information This information may be used or disclosed from time to time to:
•verify your identity and investigate your personal background;
•open and operate your Account(s) and provide you with products and services as a member of the City of Bridgetown Cooperative Credit Union Ltd.
•determine your eligibility for products and services.
•assist the Credit Union to better understand your current and future needs.
•help us better manage our business and your relationship with the Credit Union.