Draft
Two draft clearing with the same draft number
What is a duplicate draft?
Automatic payroll deposits
What is direct deposits?
Transfers occurs every month
What is automatic transfers?
Unauthorized electronic funds transfer
What does Regulation E Govern?
EFTA
What is Electronic Funds Transfer Act?
$12.50
What is return/overdraft fee?
Recurring/unauthorized/revocation of ACH/EFT entries
What is WSUD (Written Statement of Unauthorized Debit)?
$1
What is a Transfer Fee (overdraft transfer)?
60 days
How many days after receiving a statement does a member has to dispute a transaction?
Writing notification, and stopping use of card and any access code
What is Termination of EFT Services?
Draft cleared the wrong account or for the wrong amount
What is encoding error?
What is a notice of reclamation?
Incoming $5,000 per business day, Outbound $2,500
What is FI transfers?
10 business days
How many days after receiving a dispute do we have to issue a credit?
Monday through Friday, excluding holidays
What is our business days?
$20.00
What is stop payment fee?
Items not settled but is received
What is ACH Unposted Items?
$500 per calendar day, $2,500 per week, $10,000 per month.
What is Zelle?
45 business days
How long do we have to investigate a disputed transaction?
Fee charged due to the use of an ATM not operated by us
What is an ATM Surcharge?
Draft exception deleted by mistake
What is creating draft exception?
Verified by VeraFin
What is OFAC (Office of Foreign Assets Control)?
Safety net transfer for members
What is Member Privilege Overdraft Program?
$500
What is the maximum amount of unauthorized transactions a person may be liable for, if an access device is lost or stolen?
ATM Card, Visa Check Card, Member Accessline, Preauthorized EFTs, Electronic Check Conversion, eBranch, and Bill Payer
What is EFT Services offered by the CU?