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Electronic Funds Transfer Agreement

Effective: December 2021


By signing an application or by using your Card, PIN, Password, or an EFT service, you agree to the rules in this Agreement. Also, you agree that you will not use your Card, PIN, Password, or any EFT service for illegal gambling or other illegal transaction(s). Display of a payment logo by a merchant (for example, online) does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located. Your rights to conduct transactions under this agreement may be suspended if we suspect illegal activity.

DEFINITIONS - As Used In This Agreement

“We”, “us” and “our” refer to Skyline Financial Federal Credit Union (SFFCU)

“You” and “your” refers to anyone who has an account with us and is authorized to use the applicable Electronic Funds Transfer (“EFT”).

“EFT” means an Electronic Funds Transfer. An EFT is any transfer of funds that is initiated through an electronic terminal, telephone, or computer for the purposes of ordering, instructing, or authorizing a financial institution to debit or credit an account.

“EFT Agreement” means the Electronic Funds Transfer Disclosure Statement & Agreement set forth in this Agreement which may be amended from time to time.

“Account” refers to any account at SFFCU from or to which we allow Electronic Funds Transfer (“EFTs”).

“Checking” and “Savings” refers to your Share Draft Checking & Share Savings Account designated for the EFT.

“PIN” refers, to any personal identification number or code you agree to use to identify yourself, when conducting an EFT.

“Password” refers to the secret sequence of characters you use to use to gain access to your accounts via Online Banking or Mobile Banking.

“ATM” means an automated teller machine at which funds can be transferred into, deposited to, or withdrawn from your account and at which you may request account information, called “ATM Transactions.”

“POS” means Point-of-Sale.

“POS” Transactions are transactions in which you use your Card and PIN or signature to pay for goods and services by debiting your checking account, whether or not an electronic terminal is used at the time of the transaction.

“Card” refers to the SFFCU ATM card or SFFCU VISA Debit Card.

“Line of Credit” means Home Equity Line of Credit.

“NSF” refers to Non-Sufficient Funds.

“Available Funds” means the money in your Account which can be withdrawn. Available Funds may be less than the entire balance in your account if, for example, a “hold” is placed against certain funds in your account for a certain number of days to allow a reasonable time for checks deposited to or cashed against your account, to clear.

“HSA” means a Health Savings Account.



You can get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM and/or POS terminal. 

Preauthorized debits or credits

You can call 203-755-2030 to talk about, review, or ask about preauthorized debits or credits. You can also visit in person during the office hours. 

Periodic statements 

You will get a periodic account statement showing all EFT transactions.


Right to stop payment

If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how: Call us at 203-755-2030 or write us at SFFCU, 3528 E. Main St, Waterbury CT 06705 in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we will require you to put your request in writing and get it to us within fourteen (14) days after you call. If we do not receive the written confirmation, the oral stop payment order shall cease to be binding fourteen (14) days after it has been made. Liability for failure to stop payment of preauthorized transfers. If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for certain types of losses or damages.

To permanently stop these transactions

You must notify the person or organization you have agreed to pay. If you instruct us to stop these payments we will do so. However, we must receive a written notice to cancel within fourteen (14) days of your call. If the written request is not received within fourteen (14) days the stop payment will no longer be in effect. Please refer to our separate Fee Schedule for the amount we will charge you for each stop-payment order you give.

Notice of varying amounts

If these regular payments vary in amount, the person you are going to pay will tell you, ten (10) days before each payment, when it will be made and how much it will be. You may ask the person or organization you are going to pay to give you this notice only when the payment would differ by more than a certain amount from the prior payment or when the amount would fall outside certain limits that you set. We will not be liable if the person or organization you are going to pay fails to give you notice of varying amounts.

If you do not have sufficient Available Funds in your Account to complete a preauthorized payment, we may deny the transaction or, in our discretion, we may allow the transaction to overdraw your account. Please refer to our separate Fee Schedule for the fees associated with overdrawing your account or returned items due to non-sufficient funds (NSF).


Every day is a business day except Saturday, Sunday, and Federal Holidays.


When We Disclose Information to Others

  • We will disclose information to third parties about your account or the transfers you make under the following conditions:
  • We will disclose information where it is necessary for completing transactions or collecting checks.
  • We will disclose information as allowed by law in order to verify the existence and conditions of your Account for a third party, such as a credit bureau.
  • We will disclose information in order to comply with any law, court order, or proper governmental request, such as subpoenas, tax information, bank examinations and reports of unusual cash transactions.
  • We will disclose information if you give us your written permission.
  • We will disclose information to auditors and collection attorneys.
  • We will disclose information to government officials in connection with suspected violations of law.
  • We will disclose information to third parties if you owe us money and we must take legal action to get it.
  • We may disclose information relating to an Account which does not identity you or your Account.
  • We may disclose information relating to your Account which is allowed to be disclosed under state and federal privacy laws.


An EFT is a transfer of your funds into or out of your account at SFFCU which is initiated electronically. Indicated below are some types of EFT’s we currently offer, some of which may not apply to your account.

  1. Point-of-sale transfers
  2. Automated teller machine transfers
  3. Direct deposits or withdrawals of funds
  4. Transfers initiated by telephone; and
  5. Transfers resulting from debit card transactions, whether or not initiated through an electronic terminal.


You may authorize a third party to initiate transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time or may recur as directed by you. These transfers may use Automatic Clearing House (ACH) or other payment networks. Your authorization to the third party to make these transfers can occur in a number of ways. For example, to convert a check to an EFT when a merchant provides you notice and you go forward with the transaction (notice is typically provided at the point of purchase, it may be posted or on a receipt). In all cases, third party transfers will require you to provide your account number and credit union information. This information should only be provided to trusted third parties with whom you have authorized to initiate an EFT. Examples of these transfers include but are not limited to:

Preauthorized credits

You can arrange for direct deposit to your account of Social Security benefits or other deposits, such as payroll, to be deposited directly to your account.

Preauthorized payments

You can arrange to have recurring payments or transfers made from certain accounts automatically.

Electronic check or draft conversion

You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.

Electronic returned check charge

You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.


If you have applied for our Telephone Banking, you may access your account by telephone 24 hours a day at 800-257-1592, using your PIN, a touch tone phone, and account numbers. If you have applied for our Online Banking or Mobile Banking, you may access your account online 24 hours a day at using your user name and password. These services allow you to:

  • Transfer funds between accounts.
  • Make payments from share account to loan accounts.
  • Make payments from share accounts to SFFCU VISA® credit card (which will be applied to your VISA account within two (2) business days).
  • Request a withdrawal by check from any of your share accounts.
  • Obtain balance information from your share, share draft, and loan accounts.
  • Determine if a particular item has cleared.


Liability for failure to make transfers: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions.
We will not be liable, for instance:

  • If, through no fault of ours, you do not have enough available funds in your account to make the transfer. Any “holds” on your account will reduce your amount of available funds.
  • If you have any form of overdraft protection and the transfer would go over the limit.
  • If the automated teller machine where you are making the transfer does not have enough cash.
  • If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  • If circumstances beyond our control (such as fire, flood, or power outage) prevent the transfer, despite reasonable precautions that we have taken.
  • If we did not complete the transaction because we reasonably suspected fraud or illegal activity or if you do not provide your name, correct PIN, or correct account numbers, where applicable.
  • If your card or PIN has been reported as lost or stolen.
  • If the funds in your account are subject to legal process or other encumbrance restricting such transfer.
  • If you do not follow the procedures in this or any other Agreement you have with us.
  • There may be other exceptions stated in our agreement with you.


In addition to the limitations on transfers elsewhere described, the following limitations apply:

  • Transactions permitted and withdrawal amounts may vary according to the limits set by each ATM owner.
  • For security reasons, there may be other limits on the number of transfers you can make using your Card.
  • During a malfunction of an ATM, or our computer system or the ATM’s system, we may limit the dollar amount and types of EFT’s you can make including the types of accounts you can access with an ATM. Other limitations may apply at ATMs of other institutions.
  • Other limits may apply.


There are certain fees and charges for electronic funds transfer services. For a current listing of all applicable fees, see our current Fee Schedule which is available online at From time to time, the charges may be changed. We will notify you of any changes as required by applicable law. If you use an ATM not operated by us, you may be charged a fee by the ATM operator and by any national, regional, or local network used in processing the transaction (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). The ATM surcharge will be debited from your account if you elect to complete the transaction or continue with the balance inquiry.


You may access your account by ATM using your ATM or Debit Card along with your PIN to:

  • Withdraw Available Funds from your checking or savings account. Each card may not exceed $305 in pinned authorized transactions, including fees, per 24-hour period.
  • Transfer Available Funds between your checking and savings accounts.
  • Obtain balance information on your savings or checking account.
  • Make deposits to your checking or savings account.


You can pay for purchases by accessing your checking account at merchants that have agreed to accept the Card. At the time of the purchase, you may also be able to withdraw cash, subject to cash availability. Each card may not exceed $300 in authorized transactions, including fees, per 24-hour period.


If you have a Debit Card, you can use your card as described via the Point-of-Sale Transaction section. You can also use your Card to make purchases at merchants that accept VISA; this is a signature-based transaction, no PIN required.

  • Each card may not exceed $300 in pinned authorized transactions, including fees, per 24-hour period. In addition, you may conduct signature-based authorizations totaling up to $300 per 24-hour period. The use of the VISA Bonus Check Card to purchase goods and services at merchant locations or to withdraw cash from an ATM will constitute a simultaneous withdrawal from and/or demand upon your checking account, even though the transaction may not actually be posted to your checking account until a later date.
  • Transactions will be posted to your checking account in the order that they are received.
  • Any hold placed on your account may reduce the available funds in your account.
  • Merchants and others who honor the VISA Bonus Check Card may give credit for returns or adjustments, and they will do so by initiating a credit to SFFCU, which we will credit that amount to your checking account.
  • You may not withdraw more than the total of Available Funds on that day. This limit applies to the total of withdrawals and the total POS transactions from your accounts.
  • SFFCU shall not be responsible for the refusal of any merchant, provider of services, bank, or ATM to honor any card.
  • SFFCU may be a member of one (1) or more surcharge-free ATM networks. A monthly fee for this convenience may be charged (see Fee Schedule).
  • Withdrawals made at a foreign (not on us) ATM that is not one of our surcharge free ATM’s (Allpoint) will incur a fee (see Fee Schedule).
  • Please refer to separate Fee Schedule for additional information about fees.


Member Liability

Important! Tell us AT ONCE if you believe your Card, PIN or Password has been lost or stolen, or if you believe that an electronic funds transfer has been made without your permission using information from your check.

Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of
credit). Call us at 203-755-2030.

If SFFCU is closed, write us at: Skyline Financial Federal Credit Union, Card Services, 3528 E. Main St, Waterbury CT 06705

If you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50 if someone used your Card, PIN or Password without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Card, PIN or Password, and we can prove we could have stopped someone from using your Card, PIN or Password without your permission if you had told us, you could lose all of the alleged or actual fraudulent charges.

Also, if your statement or our online account detail reflects 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 was issued to you, you may not get back any money you lost after the sixty (60) days 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 long hospital stay) kept you from telling us, we will extend the time periods.

Your role is extremely important in the prevention of any wrongful use of your accounts. Promptly examine account statements upon receipt and monitor your accounts online by using Online Banking or Mobile Banking. Setting up transaction alerts is an effective way to monitor your accounts.


If funds have been deposited into your accounts, to which you are not legally entitled, by mistake or otherwise, you agree that such amounts are debts owing from you to us and you authorize us summarily to withdraw such amounts from the account or any other account you have with us. We can do this without giving you prior notice or demand. We can also exercise our right of set-off to recover any such amount. (An example of such an overpayment to your account to which you are not legally entitled would be a Social Security payment received by direct deposit after your death.)


Some of these services may not be available at all ATMs or POS terminals. Debit Cards are enrolled in NYCE and Allpoint. From time to time, we may add or change networks.


From time to time, SFFCU may announce additional services which will be available through electronic services. Your continued use of the services will indicate your acceptance of the terms and conditions presented at the time they are announced.


If we must go to court because you owe us money, you will pay all collection costs, including but not limited to attorney’s fees that the court may award to us. If the decision is against us and in your favor, we will pay any attorney’s fees which are awarded by the court.


You are not permitted to authorize another person to use your Card. If you do authorize another person to use your Card, you are responsible for all transactions made by that person under the terms of this Agreement.


If you think your statement or receipt is wrong, or if you need more information about a transfer listed on the statement or receipt, call us during business hours or write us as soon as you can. Our phone number for this purpose is: 800-761-2400

Our address for this purpose is:

Skyline Financial Federal Credit Union
Attn: Member Service 
3528 E Main St, Waterbury CT 06705

We must hear from you no later than sixty (60) days after we issued the FIRST statement on which the problem or error appeared.

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

If you tell us orally, we may require you to send us your complaint or question in writing within ten (10) business days.

We will complete our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. For errors involving new accounts, POS, or foreign-initiated transactions, we may take up to ninety (90) days to complete our investigation. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents we used in our investigation.


We can change this Agreement at any time. We will provide you with advance notice of these changes as required by law.


You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your Card and any access code. You must return all Cards to the Credit Union. You also agree to notify any participating merchants that authority to make bill payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your Card or access code for any EFT service. Whether you or the Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any EFTs made prior to termination.


This Agreement is governed by the Bylaws of the Credit Union and the laws and regulations of the State of Connecticut. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.


You are liable to us for any loss, cost, or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, costs, or expenses from your account without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions.