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(also referred to as “Direct Services Agreement”)
Introduction
Part 1 — General Terms and Conditions
Part 2 — ELECTRONIC SERVICE FEATURES
Introduction: Your Agreement for Use of Electronic Services
This Agreement sets out the terms and conditions of your use of Electronic Services (online and mobile banking) offered by us. This Agreement is supplemental to the Personal Member Agreement. It also helps you understand your rights and obligations to protect your Account and personal information from fraudulent or unauthorized use when you use Electronic Services.
Electronic Services are only available from us if you have already agreed to or you are already deemed bound by the terms of our most current Personal Member Agreement. The Personal Member Agreement is available here, or you can get a copy from your branch. If you have not yet done so, by subscribing for or using Electronic Services with us, you agree to be bound by the most current version of our Personal Member Agreement and as it may be amended from time to time.
By using our Electronic Services, you also agree to the terms and conditions outlined in this Agreement, regardless of the technology you use to access the services. We make no warranties concerning Electronic Services except those expressly set out in this Agreement. Any other advice, information or statements we provide about Electronic Services (oral or written) do not represent a warranty and do not add to or amend this Agreement.
Changes to this Agreement – Electronic Services are constantly changing. We may change this Agreement at any time. We will provide notice of any change to this Agreement in the manner set out in the Personal Member Agreement. If you use our Electronic Services after the effective date of any change, your use confirms your agreement to the changes.
Other Agreements – This Agreement must be read in conjunction with the terms and conditions of other agreements that you agreed to comply with when you opened or used your Accounts and services with us. For most matters between you and us, the Personal Member Agreement, which can be found here, is paramount and will govern our relationship with you. If this Agreement doesn’t mention a particular matter or there is a conflict between this Agreement and another agreement with us, the other agreement will apply unless a specific section of this Agreement stipulates that the terms of this Agreement are paramount for the matters at issue.
Definitions – Capitalized terms that are used and not specifically defined in this Agreement have the same meaning as set out in the Personal Member Agreement. Some terms in this Agreement use different words or phrases than those used in the Personal Member Agreement but refer to the same concept. We have identified those equivalent words and phrases in this Agreement as follows:
“you, your, yourself” means the same as “Depositor” and means you the member who holds the Account with us; and
“we, us, our” means the same as “Financial Institution” and means First West Credit Union, including Envision Financial, Valley First, Enderby & District Financial and Island Savings, as well as any other division of First West Credit Union.
“Access Terminal” means any device used to access any of the Depositor's Accounts, including, without limitation, an ATM, a computer, a portable hand-held device, or a telephone, including any form of mobile telephone.
“Account” means any of Your accounts or subaccounts (if applicable) that You may have now or in the future at the Financial Institution.
“Electronic Services” includes both “Direct Services” and “Mobile Payment Services”.
“Direct Services” means the services offered that allow you to access your Account using an Access Terminal. However, Direct Services do not include card services such as Debit Cards including those provided by a Third Party.
“Mobile Payment Services” means electronic banking services that can be performed with a Debit Card and PIN or a virtual Debit Card and Passcode using a Mobile Device that allows you to perform Point of Sale Transactions using a Mobile Device.
“Debit Card” means a card issued by us that allows you, as the holder of the card, to make deposits and withdrawals or authorise transactions on your account using an ATM. A Debit Card can also be used to purchase goods and services from merchants and/or can be used with Mobile Payment Services.
“Interac e-Transfer® Answer” means the word or phrase created by the sender of a money transfer and used by the recipient to claim or decline the money transfer using Interac e-Transfer® Services.
“Interac e-Transfer® Contact Information” means the electronic contact information, including, without limitation, an account number, email address or telephone number, used in sending and receiving money transfer using Interac e-Transfer® Services.
“Interac e-Transfer® Notice” means the electronic notice sent to the recipient of a money transfer, when such money transfer is sent using Interac e-Transfer® Services. The Interac e-Transfer® Notice may be read by using an Access Terminal.
“Interac e-Transfer® Services” means the money transfer service provided by Interac Corp. that facilitates the sending and receiving of money transfers (using including without limitation; account number, email, or telephone number) through Direct Services to and from participating financial institutions, and/or the Interac Corp. payment service.
“Virtual Debit Card” means the electronic equivalent of a Debit Card when used with Mobile Payment Services. All references to "Debit Card" in this Agreement include a virtual Debit Card registered for use with the Mobile Payment Service.
“Mobile Device” means a mobile device such as and including a computer, a portable hand-held device, or a telephone including any form of mobile telephone that is capable of being used in connection with the Mobile Payment Service.
“Mobile Payment Transaction” means a Transaction made using Mobile Payment Services.
“POS” means Point of Sale, meaning an electronic terminal used by cardholders to pay for goods or services at a retail or service outlet.
“POS Transaction” means the use of a Debit Card to conduct a contact Transaction with its associated PIN or a contactless Transaction without the Debit Card’s associated PIN or using a Mobile Device.
Applicable Law & Jurisdiction – This Agreement is governed by the laws of BC. Your compliance with applicable laws is your responsibility. You agree that:
Use of Services – You may use Electronic Services as soon as we provide access. We may add, remove or change any part or feature of Electronic Services and how it is used by you without notice.
When you use our Electronic Services or any service provided by us directly or through a Third Party, you agree to the following principles:
If you violate these principles, your use of our Electronic Services or any service provided by Us, directly or through a Third Party, may be suspended or terminated at our discretion.
Availability of Services – Your access to your Account depends on technology and equipment which may be affected by interruptions beyond our control. We cannot guarantee that Electronic Services will not be interrupted, and we are not liable for any resulting consequences or losses.
Personal Information – The privacy and security of your personal information is important to Us. Please review our Privacy Policy for more information.
Service Fees – Service fees for your use of Electronic Services, including any fees charged by a Third Party, will be deducted from your Account. These fees are in addition to any other service fees or charges that may apply to your Account. You are responsible for understanding fees and charges for any services you use or request. We will give at least 30 days’ notice of any changes to our service fees. You can view a list of our current service fees here.
Location Based Services – Our Mobile App, which includes the Mobile Payment Service, may be used in conjunction with location-based services, and you agree that we may collect, transmit, process, display, disclose, maintain or use location-based data.
User Licensing Terms – ou agree not to copy, modify, adapt, enhance, translate or create a derivative work of the Mobile Payment Service or any part of the Service. You agree not to license, sublicense, market or distribute the Mobile Payment Service, or provide any copies to a Third Party. You will not attempt to reverse engineer, decompile, disassemble or make error corrections to any part of the Mobile Payment Service, and you will not use any part of the Mobile Payment Service to gain access to interconnecting software applications to do the same.
Personal Access Security Codes – There are several types of personal access security codes that are required to be used by you depending on the Electronic Service you are using. You agree, confirm and acknowledge that your account number and unique PAC (defined below) constitutes and will be used instead of your actual signature and signature card for the purposes of opening a membership and for the purposes of giving instructions on the Account.
You are responsible any time your personal access security code(s) is used. You are bound by each transaction authorized using your personal access security code(s) and authorized transactions cannot be cancelled.
Anyone with access to your personal access security code(s) could access your Account and authorize transactions. If this happens, you are liable, even if the transaction benefits someone other than you.
Proprietary Rights – You may use content delivered to you through Electronic Services only as it is provided to you. You may not copy, distribute or create other products from any aspect of the service.
Security – Ensuring your online and mobile banking experience is secure is important. Security is a team effort and you play a leading role in the ongoing fight against fraud. When you meet your responsibilities and abide by this Agreement, but still experience loss due to fraud, we will work with you to resolve the loss up to the amount of the fraudulent transaction.
Prevention – To prevent others from accessing your Account, you agree to:
You can change your personal access security code(s) at any time through Electronic Services. You must notify us immediately and change your personal access security code(s) if:
Suspicious Circumstances – If you suspect fraud or any kind of suspicious or unlawful activity with respect to your Accounts with us, you have a duty to immediately notify us. You must also immediately change your personal access security code(s) either through online services or by calling us.
Investigation and Assistance – We may investigate any suspicious circumstances you disclose. You agree to cooperate and assist both us and any law enforcement authorities in connection with any investigation or prosecution in the event of a claim arising from the services. If we are conducting an investigation related to your Account or services we provided to you, you authorize us, and our agents, representatives or service providers, to collect, use, and disclose your Personal Information for purposes of carrying out the investigation. You agree that we are not responsible or liable for any loss, harm, or damage, of any kind, related to or arising from the sharing or collection of information during the course of any good faith investigation that may be done by us. We may place a hold on all or some of your Accounts during the investigation. If we release that hold, it does not mean that the issue is resolved. If we confirm improper use, we can withdraw or suspend Electronic Services or your Account without notice. You understand and agree that your failure to cooperate in an investigation results in your forfeit of the right to bring claim against us and may result in, at our discretion:
Third Party Services and Links – A Third Party is any person, firm, corporation, association, organization, or entity other than us or Central 1 Credit Union. For your convenience, we may make services provided by Third Parties available to you. Your relationship with these Third Parties is separate from your relationship with us, may be beyond our control and subject to separate terms, conditions or agreements that you need to accept to use those services. If we use a Third Party to complete a Remote Instruction on your behalf or to provide you a service, you agree that the Third Party is your agent and is not acting as our agent.
You assume the risks associated with using or accessing Third Party services and websites. We are not liable for the content of those websites or the use of Third-Party services. Any disputes related to Third Party services are strictly between you and the Third Party.
Messages & Alerts – You can conveniently monitor the activity in your Accounts through messages we post to you and alerts which you can choose to set up. You agree that the message and alert service is for your convenience on an “as is” and “as available” basis. It does not create any obligation upon us, nor does it relieve you from your obligations to review your Account statements or otherwise abide by this Agreement.
Set Up – You can set up these optional alerts using the alerts tool within Electronic Services. This tool allows you to set up your alert preferences. You may also choose to have alerts sent to:
If you change the email address or mobile number associated with your messages or alerts, you are responsible to update your alert contacts through the alerts tool.
If you sign up to have alerts sent to a mobile device, you confirm that you are the Account holder for the device or have the Account holder’s permission to use the device for Electronic Services.
To use the alerts feature, you must accept additional terms and conditions that will be presented to you before you can set up your alerts.
Bill Payment Service – This service allows you to make payments to thousands of merchants across Canada. If you make bill payments using Electronic Services, it is your responsibility to:
If you make or receive a bill payment in error, we may assist you by initiating or processing a “Bill Payment Error Correction Debit”. You are responsible for any service charges or fees related to the transaction.
Transfer Service – Transfer Services allow you to:
4.1 Internal Account Transfers – You may move money between your Accounts held with us at any time. If you do so, you can choose when those funds will be moved. Any interest charged or due to you will be calculated based on the date and time the funds are actually moved between your Accounts based on our records. Transactions may be posted in our records at a date or time that is different than the date and time you initiate the transfer.
4.2 External & Linked Accounts – You may use Electronic Services to:
To link Accounts at other financial institutions you must:
We may limit the number, dollar value and type of transfers you can conduct between your Accounts. We have the right to verify or refuse to accept links to any external Account and may limit the number of external Accounts you can link to your Account with us.
We reserve the right to hold the amount of a transaction to an external or linked Account. During that time, you will not have access to the money. Once a transaction is authorized, funds usually arrive in your Account within three to five business days. We cannot guarantee when a transaction will be processed and are not responsible for any delay. All transactions will be reversed if they cannot be delivered or are returned.
You may link your Canadian dollar Account only to another Canadian dollar Account. US dollar Accounts can be linked only to US dollar accounts with a financial institution based in Canada.
4.3 Interac e-Transfer® – Interac e-Transfer® is a Third-Party funds transfer service provided by Interac Corp., that allows you to send funds to and receive funds from individuals and businesses who deal with participating Canadian financial institutions.
Availability – Interac e-Transfer® is available only from certain permitted Accounts. We may limit the number and dollar value of transactions sent and received. Interac e-Transfer® services are provided at our discretion.
Sending a Transfer – your Account will be debited as soon as you initiate a transaction. We may hold the transaction amount until the recipient successfully claims the transaction or it is cancelled. We have no obligation to pay interest on the transaction amount.
The recipient will receive notice of the transaction approximately 30 minutes after you complete the transaction, though we do not guarantee the time of the deposit.
As the sender, you are responsible for:
Interac e-Transfer® Answer – When you initiate the transfer, you create an Interac e-Transfer® answer or password that the receiver will use to claim the transfer. Both sender and receiver must keep the Interac e-Transfer® answer or password confidential. You must not include the Interac e-Transfer® answer or password in the transaction details.
We are entitled to pay the transfer amount to anyone who claims to be the intended recipient and provides the correct Interac e-Transfer® answer or password. We are not responsible for any losses or damages incurred if someone other than the intended recipient provides the correct Interac e-Transfer® answer or password to claim a transfer.
Claiming a Transfer – Recipients may claim a transaction using:
Transactions sent via account number, Autodeposit or Request Money feature may be automatically deposited into the account of the recipient/requestor, and no Interac e-Transfer® Answer would be required by the recipient. We cannot guarantee the date of deposit and are not responsible for any delay.
Cancelling a Transfer – A transaction will be returned to the sender if:
We may cancel a transaction if we believe a mistake has occurred or we suspect any unlawful or fraudulent activity. The sender may also cancel a transaction before the recipient claims it. We provide the method of transfer between You and the other party, but are not part of the transaction. Any disputes must be resolved between the sender and the recipient.
Incorrect information – If You claim a transfer using the Interac Corp. payment service, but provide incorrect Account information, Interac Corp. or its agent may request correct Account information from you or may mail you a cheque for the amount of the transfer. We will not pay interest on the transaction amount.
Remote Deposit Service – Using a mobile device, Remote Deposit Service enables you to take a picture of a cheque payable to you and deposit it securely into your Account with us. Deposits made when we are not open for business may take up to one business day to be credited to your Account.
Eligible Bill and Official Image – You must only deposit Eligible Bills into your Account using our Remote Deposit Services. An Eligible Bill for Remote Deposit purposes is a cheque in Canadian dollars drawn on a Canadian financial institution for deposit only into a Canadian dollar Account. An Official Image is an electronic image of an Electronic Bill. We are not obliged to accept any item for deposit.
Depositing a Cheque – When you use Remote Deposit Services to deposit an Eligible Bill, you are responsible for:
If you have any suspicions about a cheque, bring it to your branch and tell us your specific concerns. You must fully co-operate with any inquiry or investigation of these concerns.
Within five business days of transmission, we may request in writing that you produce and present to us the original cheque of any Official Image created and transmitted by you. If you fail to comply, we can hold or reverse any related credit to your Account. If we request that you re-transmit an Official Image, you are responsible for all costs associated with obtaining a replacement cheque that you have made unusable, destroyed or lost.
Notices – We will use the contact information you provide to send you electronic notices related to the Remote Deposit Service, including to inform you that we have received an Official Image. These notices are for information purposes only and are no guarantee that the Official Image will be accepted by us, that your Account will be credited or that any credit granted is final, and not subject to reversal.
Liability – You agree to protect and indemnify us from any liabilities and costs, including reasonable legal expenses, we incur in connection with any claim or demand related to your use of Remote Deposit Services. You must co-operate with us in any such claim or demand.
You agree to indemnify us for any loss, expenses or damages we incur as a result of any breach of this Agreement or claim connected to:
We are not liable for any expense, loss, damage, or inconvenience resulting from your use of the Remote Deposit Service, including delays in processing transactions.
Online Payment Service – INTERAC® Online is a Third Party payment service provided by Interac Corp. that allows you to pay for online purchases at participating merchants directly from your Account with Us.
Transaction Processing – Once the transaction is authorized, the amount of the transaction will be withdrawn from your Account. We may pay the transaction amount to anyone who claims to be the participating merchant and provides the payment authorization details within 30 minutes after you authorize the transaction.
Cancelling a Transaction – Payment authorization details are sent immediately after you authorize a transaction. Once the merchant receives payment authorization, a transaction cannot be cancelled. If a merchant cancels, declines or fails to claim a transaction within 30 minutes, the transaction amount will be returned to your Account.
We may cancel a transaction before payment authorization details are sent to the participating merchant if we believe a mistake has occurred or the transaction is a product of unlawful or fraudulent activity.
Dispute Resolution – All disputes, including requests for refunds, will be handled directly between you and the merchant. Refunds may be credited to your Account through Electronic Services or through another method the merchant deems appropriate.
Notifications – After you authorize a transaction, we may send electronic notifications related to the Online Payment Service to the contact information you provide. These notifications are for information purposes only and are no guarantee that the merchant will successfully claim the transaction or that you have successfully purchased the product or service.
Liability – We are not liable for any losses, damages or inconvenience that results from:
Mobile Payment Services – This service can be performed, with a Debit Card and PIN or a virtual Debit Card and Passcode, using a Mobile Device that allows you to perform Point of Sale Transactions using a Mobile Device.
Business Accounts Terms and Conditions
(also referred to as “Direct Services Agreement”)
This agreement (the “Agreement”) outlines the terms and conditions governing the Depositor’s use of Direct Services for Business (defined below). Valley First, a division of First West Credit Union, ("The Financial Institution") does not offer Direct Services for Business other than in accordance with these terms and conditions. By requesting and using Direct Services for Business, the Depositor acknowledges their acceptance of these terms and conditions.
In consideration of the Financial Institution providing access to any of the Depositor’s Accounts using Direct Services for Business, the Depositor agrees as follows:
INTERPRETATION – Any defined term used in this Agreement, defined in the singular, is deemed to include the plural and vice versa.
“Access Terminal” means any device used to access any of the Depositor's Accounts, including, without limitation, an ATM, a computer, a portable hand-held device, or a telephone, including any form of mobile telephone.
“Account” means any of the Depositor's accounts or subaccounts (if applicable) that the Depositor may have now or in the future, at the Financial Institution.
“Account Agreement” means the agreements for the operation of the Account.
“ATM” means an automated teller machine.
“Central 1” means Central 1 Credit Union.
“Contaminant” means a computer virus, worm, lock, mole, time bomb, Trojan horse, rootkit, spyware, keystroke logger, or any other malicious code or instruction which may modify, delete, damage, disable, or disrupt the operation of any computer software or hardware.
“Debit Card” means a card, including a Smart Card, issued by the Financial Institution that allows the holder of the card to deposit cash and/or Instruments or withdraw cash from the Account through an ATM, authorize Transactions on the Account through an ATM, and that operates like an Instrument to purchase goods and services from merchants.
“Delegate” means an Initiator Delegate and/or Read Only Delegate, as applicable.
“Depositor” means the customer or member of the Financial Institution who holds the Account with the Financial Institution authorized by the Financial Institution for Direct Services for Business.
“Direct Services for Business” means the services offered by the Financial Institution from time to time that let a Signing Officer access the Account using an Access Terminal; that let any Read Only Delegate view the Account using an Access Terminal; and that let any Initiator Delegate and/or Non Signer view the Account and start Transactions on the Account using an Access Terminal. However, Direct Services for Business do not include card services such as debit cards or smart cards, including those provided by a Third Party.
“Eligible Bill” means a bill that is of a class specified by a by-law, a Rule, or a standard made under the Canadian Payments Act, and defined therein as an ‘eligible bill’. For greater certainty, under this Agreement, an Eligible Bill supporting an Official Image, must be a paper-based Instrument, complete and regular on its face, immediately payable to the Depositor as payee, and be either a cheque, bank draft, or credit union official cheque, denominated in Canadian Dollars or US Dollars and drawn on a financial institution domiciled in Canada or the United States, as and if applicable. For purposes of this Agreement, third party Instruments that were either delivered to the Depositor with the payee in blank or were endorsed over to the Depositor and post-dated Instruments shall not qualify as Eligible Bills. Further, any Instrument that has been in any way transferred to the Depositor from anyone other than the drawer, endorsed over to the Depositor, or altered after being drawn shall not qualify as an Eligible Bill.
“Interac e-Transfer Answer” means the word or phrase created by the sender of a money transfer and used by the recipient to claim or decline the money transfer using Interac e-Transfer Services.
“Interac e-Transfer Contact Information” means the electronic contact information, including, without limitation, an account number, email address or telephone number, used in sending and receiving of a money transfer using Interac e-Transfer Services.
“Interac e-Transfer Notice” means the electronic notice sent to the recipient of a money transfer, when such money transfer is sent using Interac e-Transfer Services. The Interac e-Transfer Notice may be read by using an Access Terminal.
“Interac e-Transfer Services” means the money transfer service provided by Interac Corp. that facilitates the sending and receiving of money transfers (using including without limitation account number, email or telephone number) through Direct Services for Business to and from Participating Financial Institutions, and/or the Interac Corp. payment service.
“External Account” means an account held at another Canadian financial institution; an Investment Industry Regulatory Organization of Canada registrant; a card issuer; or an entity eligible for membership with the Canadian Payments Association, being an account in the Depositor’s name or on which the Depositor has the authority to independently authorize Transactions.
“Financial Institution” means Valley First (a division of First West Credit Union) as set out in the Account Agreement.
“Initiator Delegate” means a person authorized by a Signing Officer through Direct Services for Business to start Transactions on the Account and to view the Account using an Access Terminal. An Initiator Delegate does not include a Read Only Delegate, a Non Signer, or a Signing Officer.
“Instrument” means a cheque, promissory note, bill of exchange, order for payment, securities, cash, coupon, note, clearing item, credit card slip for processing, other negotiable instrument, or item of deposit or withdrawal of a similar nature and its electronic equivalent, including electronic debit instructions.
“Non Signer” means a person authorized by the Depositor through any other channel except through Direct Services for Business to start Transactions on the Account and to view the Account using an Access Terminal. A Non Signer does not include an Initiator Delegate, a Read Only Delegate, or a Signing Officer.
“Notice Contact Information” means the contact information, including, without limitation, postal address, email address, fax number, or telephone number, provided by the Depositor to, and accepted by, the Financial Institution, through which the Financial Institution gives written notice to the Depositor in accordance with this Agreement.
“Notification” means a written notification generated by or on behalf of the Financial Institution that provides, to the Depositor, notice of a pending or completed Transaction or a summary of the balance of the Account, including notifications issued by email or SMS text messages to any of the Depositor’s Notice Contact Information.
“Official Image” means an electronic image of an Eligible Bill, either created in accordance with the provisions of this Agreement or that otherwise complies with the requirements to permit negotiation and clearing of that Eligible Bill in accordance with the by-laws, standards, or Rules of the Canadian Payments Association.
“Online Payment Service” means the online payment service provided by Interac Corp. (doing business as INTERAC Online) that facilitates the sending and receiving of money through Direct Services for Business and Interac Corp. to Participating Financial Institutions for the purchase of goods and services from Participating Merchants.
“PAC” means the personal access code or word used with Direct Services for Business to access an Account.
“PAD” means a Preauthorized Debit.
“Participating Financial Institution” means a financial institution participating in Interac e-Transfer Services and/or the Online Payment Service, as the case may be.
“Participating Merchant” means a merchant that offers the Online Payment Service as an online payment option on the merchant’s website.
“PIW” means the personal identification word used in connection with Remote Instructions.
“Preauthorized Debit” means a Transaction debiting the Account that is processed electronically by a financial institution in accordance with the Depositor's written request.
“Read Only Delegate” means a person authorized by a Signing Officer through Direct Services for Business to view the Account using an Access Terminal. A Read Only Delegate does not include an Initiator Delegate, a Non Signer, or a Signing Officer.
“Remote Deposit Service” means the remote deposit capture service provided by the Financial Institution and Central 1, and accessed through Direct Services for Business, that allows the Depositor, Signing Officer, Delegate, or Non Signer, using an Access Terminal and/or any other means authorized by the Financial Institution in its sole discretion from time to time, to create, transmit, and receive to the benefit of the Financial Institution an Official Image for deposit to the Account.
“Remote Instructions” means instructions given to the Financial Institution with respect to the operation of the Account from a remote location, using a computer, portable hand-held device, telephone, mobile telephone, fax, via the Financial Institution's online banking system, email, text message transmission, or other remote communication acceptable to the Financial Institution in order to operate the Account or authorize Transactions and make arrangements with the Financial Institution.
“Rules” means the published rules and standards of the Canadian Payments Association as amended from time to time.
“Signing Officer” means any person authorized by the Depositor (or in the case of an unincorporated association, by the association) through any other channel except through Direct Services for Business, to sign Instruments or provide other orders for payments of money (either alone or with another person) on the Account, or to provide Remote Instructions or authorize other Transactions on the Account and for whom notice of such authorization has been given to the Financial Institution. A Signing Officer does not include an Initiator Delegate, a Read Only Delegate, or a Non Signer.
“Smart Card” means a Debit Card that has an embedded integrated circuit that can process data and protect the cardholder from fraudulent use.
“Business” means any Depositor carrying on commercial activity through their Account, including, but not limited to, a sole proprietorship, partnership, corporation, society, holding corporation, joint venture, association, or other business organization.
“Third Party” means any person, firm, corporation, association, organization, or entity other than the Financial Institution or Central 1.
“Transaction” means any transaction processed to or from the Account.
PERSONAL INFORMATION – The Financial Institution may collect, use, and disclose the Depositor’s and each Signing Officer’s, Delegate’s, and/or Non Signer’s personal information in order to provide financial services and products to the Depositor, to verify or determine the Depositor’s, Signing Officer’s, Delegate’s, or Non Signer’s identity, and to comply with legal and regulatory requirements, all in accordance with this Agreement and the privacy policies of the Financial Institution. The Financial Institution may obtain, collect, use, and release confidential Depositor information as permitted or required by law or in a court proceeding or with the Depositor’s consent or as necessary to process Transactions.
USE OF SERVICES – The Depositor may use or authorize the use of Direct Services for Business for a Signing Officer to access any permitted Account and to authorize such Transactions as may be permitted by the Financial Institution from time to time, commencing upon the day these terms and conditions are accepted by the Depositor and the Depositor's request for Direct Services for Business is approved by the Financial Institution. The Depositor may authorize the use of Direct Services for Business for a Non Signer to access the Account and to start such Transactions as may be permitted by the Financial Institution from time to time. The Financial Institution may, from time to time, add to or delete from the types of use permitted and the Direct Services for Business offered.
In connection with Direct Services for Business, the Depositor agrees, and shall ensure that the Signing Officer agrees, to provide true, accurate, current, and complete information about the Depositor, the Account, and any External Account when required by the Financial Institution. Further, the Depositor agrees, and shall ensure that the Signing Officer agrees, to notify the Financial Institution of any changes to such information within a reasonable period of time.
DELEGATES AND NON SIGNERS – In this Agreement, the Depositor's responsibilities to the Financial Institution are to be performed by the Signing Officer and his or her Delegates. The Depositor authorizes the Signing Officer to use Direct Services for Business and to appoint Delegates. A Signing Officer can authorize a person to act as his or her Delegate on the Accounts through Direct Services for Business only. If appointed, the Delegate must be specifically authorized as either a Read Only Delegate or an Initiator Delegate.
The Depositor acknowledges that the Financial Institution disclaims liability and is not responsible for the actions or omissions of Signing Officers, Non Signers, and Delegates or for determining the adequacy of their authority and that it is the Depositor's exclusive obligation to verify the identity of each such person at the time of his or her appointment by the Depositor.
Further, the Depositor acknowledges that the Financial Institution disclaims liability and is not responsible to maintain in its records any identifying information on the Delegates and that the Depositor is solely responsible for ensuring that the Delegates have access to the Account.
The Depositor acknowledges that the Delegates and the Non Signers have no rights to authorize Transactions on the Account.
A Delegate or a Non Signer can request through Direct Services for Business that the Financial Institution cease printing or mailing statements of the Account to the Depositor.
All Transactions started by an Initiator Delegate must have the authorization of a Signing Officer before being completed.
All Transactions started by a Non Signer must have the authorization of a Signing Officer before being completed.
At the request of the Financial Institution, the Depositor must provide full and current particulars of the identities of any and all Signing Officers, Delegates, and Non Signers who have any rights of access to any Accounts pursuant to Direct Services for Business.
SERVICE CHARGES AND FEES – The Depositor will pay fees incurred on the Account, including, without limitation, fees imposed by a Third Party. The Depositor will pay the service charges that the Financial Institution establishes, from time to time, for Direct Services for Business, including, without limitation, service charges for providing records regarding the Depositor that the Financial Institution is legally required to provide. The Depositor acknowledges receipt of a schedule of the Financial Institution's charges for Direct Services for Business in effect at the time of acceptance of this Agreement. The Financial Institution may, from time to time, increase or decrease the service charges for Direct Services for Business and provide notice of such changes by sending a notice to the Depositor's last known Notice Contact Information, by posting notice at the Financial Institution's premises or on the Financial Institution's website, by personal delivery, or by any other means the Financial Institution, acting reasonably, considers appropriate to bring the change to the attention of the Depositor. Current service charges for Direct Services for Business may be obtained by contacting the Financial Institution or through the Financial Institution's website. The Depositor is responsible for determining the then current service charges for Direct Services for Business they request, in advance of requesting those services. By requesting Direct Services for Business, the Depositor agrees to pay service charges for the Direct Services for Business requested then in effect. The Financial Institution can deduct such obligations from the Account (or other accounts of the Depositor with the Financial Institution) when the service is requested or performed. New or amended service charges and fees will become effective on the earlier of the stated effective date following publication, when the service is requested or performed, or when incurred, and in any event, no later than 30 days after publication by the Financial Institution.
AVAILABILITY OF DIRECT SERVICES FOR BUSINESS – The Depositor acknowledges that the availability of Direct Services for Business depends on telecommunications systems, computer hardware and software, and other equipment, including equipment belonging to the Financial Institution, Central 1, and Third Parties and that there is no guarantee or obligation to provide continuous or uninterrupted service. The Financial Institution and Central 1 are not liable for any cost, loss, damage, injury, inconvenience, or delay of any nature or kind whatsoever, whether direct, indirect, special, or consequential, that the Depositor may suffer in any way arising from non-continuous or interrupted service or the Financial Institution or Central 1 providing or failing to provide Direct Services for Business, or from the malfunction or failure of telecommunication systems, computer hardware or software, or other equipment, or other technical malfunctions or disturbances for any reason whatsoever, nor are the Financial Institution or Central 1 liable for any lost, incomplete, illegible, misdirected, intercepted, or stolen messages, or failed, incomplete, garbled, or delayed transmissions, or online failures (collectively, “Interruption Claims”), even if the Depositor has advised the Financial Institution of such consequences. The Depositor releases and agrees to hold harmless the Financial Institution and Central 1 from any and all Interruption Claims.
AUTHORIZATION FOR TRANSACTIONS – The Depositor acknowledges and agrees that:
The Depositor irrevocably authorizes and directs the Financial Institution to debit or credit, as the case may be, the amount of any Transaction to the Account, together with any service charges or fees, authorized using the PAC, the PIW, in person by the Depositor or the Signing Officer, or as otherwise contemplated or permitted by the Account Agreement, in accordance with the normal practices of the Financial Institution, which may be amended from time to time without notice.
PIW AND PAC CONFIDENTIALITY – The Financial Institution can assign and/or require the Depositor or a Signing Officer to select and use a PIW in connection with this Agreement. The Depositor agrees, and shall ensure that each Signing Officer agrees, to keep the PIW confidential and will only reveal it to authorized Financial Institution agents or officers when required by the Financial Institution. The Depositor agrees, and shall ensure that each Signing Officer agrees, not to record the PIW in any format or medium. The Depositor and each Signing Officer can change the PIW at any time. The Depositor agrees, and shall ensure that each Signing Officer agrees, to change the PIW if and when required by the Financial Institution. The Depositor acknowledges, and shall ensure that each Signing Officer acknowledges, that the PIW must be changed if there is a change in the persons authorized to provide Remote Instructions on the Account.
The Depositor agrees, and shall ensure that each Delegate, Non Signer, and Signing Officer agrees, to keep the PAC confidential. The Depositor agrees, and shall ensure that each Delegate, Non Signer, and Signing Officer agrees, not to record the PAC in any format or medium. The Depositor, a Delegate, the Non Signer, and the Signing Officer may change the PAC at any time. The Depositor agrees, and shall ensure that each Delegate, Non Signer, and Signing Officer agrees, to change the PAC if and when required by the Financial Institution. The Depositor acknowledges, and shall ensure that each Delegate, Non Signer, and Signing Officer acknowledges, that the PAC must be changed if there is a change in the persons authorized to access the Account.
The Depositor is responsible for all use of the PIW and/or PAC and for all Transactions on the Account authorized using Direct Services for Business.
The Depositor acknowledges that the Financial Institution may, from time to time, implement additional security measures, and the Depositor will comply, and will ensure that each Delegate, Non Signer, and Signing Officer complies, with all instructions and procedures issued by the Financial Institution in respect of such security measures. The Depositor is aware, and will ensure that each Delegate, Non Signer, and Signing Officer is aware, of the risks of unsolicited email, telephone calls, and text message transmissions from persons purporting to be representatives of the Financial Institution. The Depositor agrees, and will ensure that each Delegate, Non Signer, and Signing Officer agrees, not to respond to such unsolicited communications and will only initiate communications with the Financial Institution either through the Financial Institution's internet banking website or through the Financial Institution's published contact information as shown on the Financial Institution's website.
If the Depositor or Signing Officer discloses the PAC to a Third Party, and if the Financial Institution becomes aware of such disclosure, the Financial Institution may, in its sole discretion, waive the confidentiality requirements described in this article 8, PIW and PAC Confidentiality, but only if such disclosure is for a reputable personal financial management service similar to that described in article 30, Personal Financial Management. Notwithstanding any such waiver, the Depositor acknowledges and agrees, and shall ensure that the Signing Officer acknowledges and agrees, that the Depositor remains responsible for all use of the PAC by the Third Party.
REMOTE INSTRUCTIONS – The Depositor or the Signing Officer may provide Remote Instructions to any branch of the Financial Institution as permitted by the Financial Institution, online through the Direct Services for Business web portal, or through the Financial Institution's telephone banking service, if any. The Remote Instructions may concern the Account maintained at that branch, or may concern other Transactions and arrangements conducted at or with that branch.
The Financial Institution may, but will not be obliged to, act on Remote Instructions received in the name of the Depositor along with any requisite PAC and/or PIW, if any, to the same extent as if the Remote Instructions were written instructions delivered to the Financial Institution by mail and signed by the Signing Officer authorized to operate the Account. Any such Remote Instructions are deemed genuine.
The Financial Institution may, in its sole discretion, acting reasonably, delay acting on or refuse to act on any Remote Instruction.
A Remote Instruction is deemed received by the Financial Institution only when actually received and brought to the attention of an authorized officer of the Financial Institution capable of acting upon and implementing the Remote Instruction.
Remote Instructions can be transmitted to the Financial Institution at the telephone or fax number or email address provided by the Financial Institution, or at such other telephone or fax number or email address as the Financial Institution may advise the Depositor by notice in writing, or online through the Direct Services for Business web portal. Any 1 Signing Officer may act alone and provide Remote Instructions to the Financial Institution, even if 2 or more signatures are otherwise required to operate the Account. The Financial Institution, acting reasonably, is entitled to assume that any person identifying himself or herself as a Signing Officer is in fact a Signing Officer, and can rely upon such, and the Financial Institution may act on the Remote Instructions provided by any such person. All Remote Instructions given to the Financial Institution in the name of the Depositor will bind the Depositor.
VERIFICATION AND ACCEPTANCE OF TRANSACTIONS BY THE FINANCIAL INSTITUTION – All Transactions are subject to verification and acceptance by the Financial Institution and, if not accepted, or if accepted but subsequently determined to be in error or otherwise improper or unauthorized, the Financial Institution may, but is not obliged to, reverse them from the Account. Verification may take place at a date later than the date the Depositor authorized the Transaction, which may affect the Transaction date. Notwithstanding any other provision herein, if at any time the Financial Institution, acting reasonably, ever determines that a credit made to or traced to the Account was made in error or based upon a mistake of fact, or induced through or in any way tainted by fraud or unlawful conduct, the Financial Institution may place a hold on the credit and/or reverse the credit and any applicable interest.
FINANCIAL INSTITUTION RECORDS – The Financial Institution's records of all Transactions will be deemed to be correct and will be conclusive and binding on the Depositor. All Transactions will appear on the regular statements of account for the Account.
If the Depositor believes or suspects that the records of the Financial Institution contain an error or omission, or reflect unauthorized Account activity, the Depositor must give immediate written notice to the Financial Institution, and in any event, must do so within the time provided in the Account Agreement.
A copy of any fax or email message or other Remote Instructions or the Financial Institution's notes of any Remote Instructions given by telephone may be entered into evidence in any court proceedings as if it were an original document signed by or on behalf of the Depositor. The Depositor will not object to the admission of the Financial Institution's or Central 1's records as evidence in any legal proceeding on the grounds that such records are not originals, are not in writing, are hearsay, or are documents containing information extracted from a computer, and all such records will be conclusive evidence of the Remote Instructions in the absence of documentary recorded evidence to the contrary.
In the absence of evidence to the contrary, the records of the Financial Institution are conclusive for all purposes, including litigation, in respect of any other matter or thing relating to the state of the Accounts between the Depositor and the Financial Institution in respect of any Transaction.
LIABILITY FOR ERRORS AND OMISSIONS – If the Financial Institution makes an error or omission in recording or processing any Transaction, the Financial Institution is only liable for the amount of the error or omission if the Depositor has not caused or contributed to the error or omission in any way, has complied with this Agreement and the Account Agreement, and has given written notice to the Financial Institution within the time provided in the Account Agreement, and to the extent the liability is not otherwise excluded by this Agreement or the Account Agreement.
If the Depositor has given such notice, the Financial Institution's maximum liability is limited to the amount of the error or omission. In no event will the Financial Institution be liable for any delay, inconvenience, cost, loss, or damage (whether direct, indirect, special, exemplary, or consequential) whatsoever caused by, or arising from, any such error or omission.
EXCLUSION OF FINANCIAL INSTITUTION RESPONSIBILITY – The Financial Institution is not responsible for any loss or damage suffered or incurred by the Depositor except to the extent caused by the gross negligence or intentional or wilful misconduct of the Financial Institution, and in any such case the Financial Institution will not be liable for any indirect, special, consequential, or exemplary damages (including, but not limited to, loss of profits) regardless of the cause of action and even if the Financial Institution has been advised of the possibility of such damages. In no event will the Financial Institution be liable for any cost, loss, or damage (whether direct, indirect, special, or consequential) suffered by the Depositor that is caused by:
RISKS AND DUTIES – Except for loss caused exclusively by the Financial Institution's gross negligence or intentional or wilful misconduct, and subject to the limitations of liability in this Agreement or the Account Agreement, the Depositor assumes all risk of loss due to the use of Direct Services for Business, including, without limitation, the risk of Third Party fraud and internal fraud of the Depositor. The Depositor further agrees that they will notify the Financial Institution immediately:
The Depositor will change the PAC and/or PIW if either of the notification requirements above in a) or b) arises.
The notification requirement above in b) does not apply if the Depositor or Signing Officer has disclosed the PAC to a Third Party for a personal financial management service similar to that described in article 30, Personal Financial Management.
The Depositor acknowledges that the Depositor is responsible for all use made of the PAC and/or PIW and that the Financial Institution is not liable for the Depositor's failure to comply with any part of this Agreement. The Depositor is liable for all authorized and unauthorized use, including all Transactions. The Depositor is also liable for all fraudulent or worthless deposits made into the Account. Without limiting the generality of the foregoing, the Depositor expressly acknowledges and agrees that the Depositor shall be bound by and liable for any use of the PAC or PIW by a member of the Depositor's, Signing Officer's, Delegate's, or Non Signer's household.
The Depositor acknowledges that the Depositor is liable for all transfers authorized by any Signing Officer to linked accounts. The Depositor bears all risk for all such Transactions.
Where the Depositor knows of facts that give rise or ought to give rise to suspicion that any Transactions, instructions in respect of the Accounts, or Instruments deposited to the Accounts are fraudulent, unauthorized, counterfeit, or induced through or in any way tainted by fraud or unlawful conduct, or otherwise likely to be returned to the Financial Institution or found invalid for any reason, the Depositor has a duty to make reasonable inquiries of proper parties into such Transactions, instructions, or Instruments, as the case may be, to determine whether they are valid authorized Transactions, instructions, or Instruments, as the case may be, before negotiating or, alternatively, accessing any funds derived from such Transactions, instructions, or Instruments, and to disclose to the Financial Institution the Depositor's suspicion and the facts upon which the Depositor's suspicion is based (“Suspicious Circumstances”).
The Financial Institution may, in its sole discretion, investigate any Suspicious Circumstances disclosed by the Depositor, but the Financial Institution does not owe the Depositor any obligation to undertake its own investigation of Suspicious Circumstances. The Financial Institution may place a hold on all or some of the Depositor's Accounts pending investigation of any improper use of any Account. Any hold imposed by the Financial Institution pursuant to any of the terms of this Agreement, or investigation undertaken by the Financial Institution, is imposed or undertaken by the Financial Institution at the Financial Institution's sole discretion and for the Financial Institution's sole benefit.
Release of a hold by the Financial Institution is not a confirmation that a Transaction, instruction, or Instrument is in fact good and may not be relied upon as such by the Depositor. If, to the satisfaction of the Financial Institution, any improper use is established, the Financial Institution can withdraw or suspend Direct Services for Business and/or operation of the Account without notice.
All content on www.valleyfirst.com is the property of Valley First. Valley First is a division of First West Credit Union. Only extracts of reasonable length may be reproduced providing that they are solely for private use for the purposes indicated, and that an acknowledgment is given to Valley First. Information provided on the Valley First website is for informational purposes only and does not constitute any offer or acceptance of products or services of Valley First. The products and services of Valley First are only offered in jurisdictions where they may be lawfully offered for sale. All Valley First products and services are subject to the terms of the applicable agreement.
Valley First does not guarantee the confidentiality or security of information traveling through the Internet. Furthermore, Valley First accepts no liability for damages suffered if sensitive information is transmitted to us.
Information provided on the Valley First website is believed to be correct when posted. Valley First does not guarantee the accuracy or completeness of said information and reserves the right to revise product information at any time, without notice. This website is not intended to provide professional advice including, without limitation to, legal, accounting, or tax matters. Advice from appropriate professionals should be obtained in order to deal with any particular matter or use of the content of the Valley First website. Valley First does not guarantee the accuracy of financial calculators provided on the Valley First website. Calculations of said calculators does not in any way constitute an offer of products or rates on behalf of Valley First.
Reference to any third-party products, services or information at this or any linked site is not intended to be an endorsement by Valley First, and Valley First disclaims all liability to same. Content expressed in news sections, editorials or third-party pages does not necessarily represent the views and opinions of Valley First, its employees, directors or members.
Any unauthorized downloading, re-transmission, or other copying, use or modification of Trade-marks, corporate logos, imagery or other contents of this Website may be a violation of statutory or common law rights which could subject the violator to legal action.
Valley First is an authorized user of the marks EXCHANGE, INTERAC®, PLUS, ACCULINK®, MASTERCARD, CIRRUS and MEMBER CARD®.
® Trade-Mark of Interac Inc. Used under licence
®ACCULINK is a registered trade-mark owned by Credit Union Central of Canada, used under license.
®MEMBER CARD and MEMBER CARD & Design are registered certification marks owned by Credit Union Central of Canada, used under license.
Effective Aug. 13, 2023
For the purpose of this policy, “cheque” includes paper-based negotiable instruments such as certified cheques, bank drafts or money orders.
When you deposit a cheque into your deposit account at a branch or through an ATM or our mobile app, we may place a hold on these funds until the cheque is cleared at the financial institution on which it’s drawn. This means you may not have access to these funds right away. Whether or not the funds are held is influenced by your relationship with our credit union, the funds already in your account, and the amount and characteristics of the cheque being deposited. If the funds are held, the cheque could still be returned as invalid or otherwise after the hold period has expired. There are situations when we may hold funds for longer than our maximum cheque hold periods, which are outlined below.
Maximum cheque hold periods for deposit accounts
If the cheque you deposit is encoded with magnetic ink character recognition, and is not damaged in any way, the maximum hold periods you can expect are as follows:
Note: Business days are defined as Monday-Friday, excluding Saturday, Sunday and statutory holidays.
Access to the first $100
When you deposit a cheque(s) in Canadian dollars to a personal account with an advisor at a branch, you’ll have immediate access to the first $100. When you deposit a cheque(s) in Canadian dollars to a personal account at an ATM or through our mobile app, you’ll have access to the first $100 by the following business day. If the cheque you deposit is for $100 or less, you’ll have access to the entire amount. If you deposit more than one cheque at an ATM and want access to the first $100 for each, you must deposit each cheque in a separate transaction.
Exceptions to standard cheque hold periods and access to the first $100
We may extend the maximum hold period or restrict access to the first $100 of the deposit if:
Additional exceptions to holds for business accounts
Maximum cheque hold periods may be extended for eligible enterprise businesses if they have:
Note: An eligible enterprise is defined as a business with authorized credit of less than $1 million, fewer than 500 employees, and annual revenues of less than $50 million.
Your responsibility
You are financially responsible for any cheques that you deposit or cash. If you withdraw the money and the cheque is returned to our credit union for any reason (such as non-sufficient funds, a closed account or a stop payment), you will have to repay the money to our credit union and we have the right to remove the funds from your account. This can happen even after the hold period on a cheque has expired.
Note that your selection of communication preference for e-Statements and e-Documents will apply to all of your products that you currently have with us. We may, for any reason, deliver paper documents to you even though you have consented to Electronic delivery.
To view your e-Statements or e-Documents, follow the steps below:
E-Statements and e-Documents are provided as PDF files. You must have Adobe Acrobat reader installed on your computer in order to open them. |
Valley First and Enderby & District Financial, divisions of First West Credit Union, are stating our re-commitment to the Code of Conduct for the Credit and Debit Card Industry in Canada. The Code was designed to protect credit union members’ interests related to the issuance and acceptance of payment cards, and to the operation of payment card networks.
In response to the requirement for all Canadian financial institutions to collect conductor information under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations, First West is updating its policies in accordance with these regulations.
Effective Jan. 24, 2022, non-members making deposits into another member’s account―regardless of amount―will be asked to provide their first, middle (if applicable) and last name along with contact information when they make a deposit.
Everything is easier with a little help.
We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nations communities.
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