The Credit Union’s Liability. If the Credit Union fails to timely initiate a transfer request or other instruction, causes an incorrect amount to be removed from an account, or causes funds from an account to be transferred to any account other than the account specified in the applicable transfer instruction, the Credit Union shall be responsible for returning the improperly transferred funds and/or for directing any misdirected funds to the proper account. However, the Credit Union shall not be responsible where the failure is the result of another financial institution’s system except as may be otherwise required by law, the Credit Union shall not be liable for any losses and damages other than those arising from its gross negligence or willful misconduct. The Credit Union shall not liable under any circumstances for any losses or damages if, through no fault of the Credit Union, you do not have sufficient available funds to make the transfer and the transfer is not completed, is later reversed, if your financial institution does not permit the transfer, or the transfer would exceed the credit limit on any applicable overdraft line. The Credit Union is not responsible for any losses or damages incurred where circumstances beyond the Credit Union’s control prevent the Credit Union from making a transfer or if the Credit Union’s website was not working properly and you knew about the breakdown when you initiated the transfer.
Appears in 3 contracts
Samples: Electronic Services Disclosure and Agreement, Electronic Services Disclosure and Agreement, Electronic Services Disclosure and Agreement
The Credit Union’s Liability. If the Credit Union fails to timely initiate a transfer request or other instruction, causes an incorrect amount to be removed from an account, or causes funds from an account to be transferred to any account other than the account specified in the applicable transfer instruction, the Credit Union shall be responsible for returning the improperly transferred funds and/or for directing any misdirected funds to the proper account. However, the Credit Union shall not be responsible where the failure is the result of another your financial institution’s system except Except as may be otherwise required by law, the Credit Union shall not be liable for any losses and damages other than those arising from its gross negligence or willful misconduct. The Credit Union shall not liable under any circumstances for any losses or damages if, through no fault of the Credit Union, you do not have sufficient available funds to make the transfer and the transfer is not completed, is later reversed, if your financial institution does not permit the transfer, or the transfer would exceed the credit limit on any applicable overdraft line. The Credit Union is not responsible for any losses or damages incurred where circumstances beyond the Credit Union’s control prevent the Credit Union from making a transfer or if the Credit Union’s website was not working properly and you knew about the breakdown when you initiated the transfer.
Appears in 2 contracts
Samples: Digital Banking Agreement and Disclosure, External Transfers Service Agreement and Disclosure
The Credit Union’s Liability. If the Credit Union fails to timely initiate a transfer request or other instruction, causes an incorrect amount to be removed from an account, or causes funds from an account to be transferred to any account other than the account specified in the applicable transfer instruction, the Credit Union shall be responsible for returning the improperly transferred funds and/or for directing any misdirected funds to the proper account. However, the Credit Union shall not be responsible where the failure is the result of another your financial institution’s system except as may be otherwise required by law, the Credit Union shall not be liable for any losses and damages other than those arising from its gross negligence or willful misconduct. The Credit Union shall not liable under any circumstances for any losses or damages if, through no fault of the Credit Union, you do not have sufficient available funds to make the transfer and the transfer is not completed, is later reversed, if your financial institution does not permit the transfer, or the transfer would exceed the credit limit on any applicable overdraft line. The Credit Union is not responsible for any losses or damages incurred where circumstances beyond the Credit Union’s control prevent the Credit Union from making a transfer or if the Credit Union’s website was not working properly and you knew about the breakdown when you initiated the transfer.
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