Common use of Your Responsibility for EFTs Clause in Contracts

Your Responsibility for EFTs. If you authorize us to issue a duplicate Card to someone or give your code to someone, you are authorizing that person to withdraw funds and perform transactions on your accounts covered by this agreement regardless of whether that person is otherwise authorized. You continue to be bound for all transactions resulting from the use of your EFT devices until you give us written notice to terminate the EFT service and return all issued devices to us. Any person who applies for an EFT device, or signs a Card, is equally obligated (jointly and severally) with any other such person to meet the terms of this Agreement. You are also obligated to repay any charges resulting from the use of your EFT devices by another person with your express or implied permission, whether or not the person stays within the limits of use you have set for them. Any persons who use EFT devices are also obligated to repay the Credit Union for all charges incurred because of their use of the devices. You remain bound to pay for charges resulting from EFT device use even though another person has been directed to pay the debt by agreement or court order such as a divorce decree. You agree that if you or anyone acting with you uses your EFT device with fraudulent intent, we consider that transaction to have been authorized by you.

Appears in 2 contracts

Samples: Electronic Funds Transfer Agreement, Electronic Funds Transfer Agreement

AutoNDA by SimpleDocs

Your Responsibility for EFTs. If you authorize us to issue a duplicate Card to someone or give your code to someone, you are authorizing that person to withdraw funds and perform transactions on your accounts covered by this agreement regardless of whether that person is otherwise authorized. authorized.‌ You continue to be bound for all transactions resulting from the use of your EFT devices until you give us written notice to terminate the EFT service and return all issued devices to us. us.‌ Any person who applies for an EFT device, or signs a Card, is equally obligated (jointly and severally) with any other such person to meet the terms of this Agreement. Agreement.‌ You are also obligated to repay any charges resulting from the use of your EFT devices by another person with your express or implied permission, whether or not the person stays within the limits of use you have set for them. them.‌ Any persons who use EFT devices are also obligated to repay the Credit Union for all charges incurred because of their use of the devices. devices‌ You remain bound to pay for charges resulting from EFT device use even though another person has been directed to pay the debt by agreement or court order such as a divorce decree. decree.‌ You agree that if you or anyone acting with you uses your EFT device with fraudulent intent, we consider that transaction to have been authorized by you.you.‌

Appears in 2 contracts

Samples: Internet Banking and Bill Payment Agreement, Internet Banking and Bill Payment Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!