1.
Definitions
1.1 For the purpose of these Terms and Conditions: "Internet
Banking" means use of a computer to connect you to the Credit Union
via
the Internet and to facilitate transactions and the obtaining of account
information.
"BPAY" means an electronic payments scheme whereby you
can
make payments to participants in the BPAY scheme who are Billers.
"Biller" means an organisation
participating in BPAY which will receive BPAY Payments.
"Transfer" means a transfer of funds from your account held with
the
Credit Union to either:
a.
an account of another credit union member.
b.
an account held at another financial institution.
c.
another account held by you with the credit union.
"You" means the Member subscribing to the NetTeller Internet
Banking
service.
”We”, “us” or "Credit Union" means Nova Credit Union
Limited.
2.
Credit Union Code Of Practice
2.1
The
relevant provisions of the Credit Union Code of Practice apply to these
terms and conditions.
3.
Credit Union Code Of Practice
3.1
We warrant
that we will comply with the Electronic Funds Transfer Code of
Conduct where that
code applies.
4. Access and
Authorisation
4.1
The Credit Union will issue you with an initial password to access the
NetTeller
Internet Banking System. The system will require you to change this password
to
an alpha-numeric password (between 6 and 12 characters) chosen by
yourself.
You should not divulge this password to any person or allow any person to
watch
you enter or hear your password.
4.2 You must notify us as soon as possible if you become aware of
unauthorised use of your password or account or of the loss or theft of your
password or if you suspect your password has become known to someone else.
You
will be liable for any misuse of the system up until the time of
notification.
4.3 The use of the password will constitute authority to the Credit
Union
to carry out a range of transactions permitted from time to time in respect
of
your accounts with the Credit Union.
4.4 As the Internet Banking transaction details are confirmed by
e-mail,
you should not provide third parties with access to your e-mail account.
5. Security
5.1 The Credit Union will take reasonable precautions as may be
necessary
to ensure that information concerning your accounts transmitted by them
through
Internet Banking will remain confidential and protected from unauthorised
access
by means to that information.
6.
Liability
6.1
The Credit Union shall incur no liability whatsoever for any delay in acting
or
failing to act on any function specified by this service.
6.2 You are liable for all transactions carried out by you, or by
anybody
carrying out a transaction with your authority, regardless of when the
transaction is processed to your account. You are liable for all
transactions
and other losses caused by unauthorised use of your access code or
password.
6.3 You are not liable, however, for losses that are caused by the
fraudulent or negligent conduct of employees or agents of the Credit Union
or
any organisation
involved in networking arrangements or any Biller.
6.4 With respect to BPAY payments: Nova Credit Union Ltd will
not be
responsible:
a.
For any payment not being made due to any of the conditions set between BPAY
and
the Biller company;
b.
For any payment not being made due to any condition of the agreement of
arrangement between the Biller and yourself or for any payment not being
made
for any other reason;
c. For any delay in receipt of a payment by a Biller;
d. If a Biller fails to credit payment to you even if it has been
debited to
your Nova Credit Union savings account.
7. BPAY Payments
7.1
BPAY payments can be made from your at call savings account/s by
either
calling the Telephone Banking service or from the NetTeller Internet Banking
facility.
7.2 Insufficient Funds
a. For payment requests to be made the nominated savings account
must have
sufficient available funds at the time the payment request is made to meet
the
amount of the payment or it will not be made.
b. Members who would like a payment made that has previously failed due
to
insufficient available funds will need to make another payment request via
the BPAY
facility.
7.3 Cut off times
a. The BPAY cut off time is 3.00pm Eastern Standard Time
Monday to
Friday (except for public holidays).
b. Where a successful payment request is made WITHIN the Credit Union's
normal
business hours (8.45am to 4.45pm) but after the designated BPAY cut
off
time set by Nova Credit Union (3.00pm), the account will be debited at the
time
the payment request is made but the amount debited will not be sent to the
Biller until after the BPAY cut off time on the following working
day.
c. Where a successful payment request is made OUTSIDE the Credit Union's
normal
business hours (8.45am to 4.45pm) or on a weekend or public holiday, the
account
will be debited at start of business on the next working day and the amount
debited will not be sent to the Biller until after the BPAY cut off time on
that
following working day. N.B. The funds will be held as uncleared until
debited to
the account.
d. A BPAY payment instruction is irrevocable after the cut off
time.
Payment requests will only be able to be amended through the Credit Union if
the
payment has not been sent to BPAY for processing. Any amendments required
after
this time must be referred direct to the Biller.
7.4 Payment amounts must be correct
It is the Member's responsibility to ensure BPAY payment amounts are
correct at the time a payment request is made. It is not the responsibility
of
the Credit Union to recover any overpayment. The Member must instead seek
any
refund from the Biller.
7.5 Mistakes in BPAY
Where a mistake is present in a BPAY payment transaction, (except a
mistake relating to the amount of payment), the Member must notify the
Credit
Union of this mistake. The Credit Union will then take all necessary steps
to
rectify the mistake. However, the Credit Union will not be liable for any
loss
of damage flowing from the mistake, unless it is due to conduct mentioned in
condition 6.3.
8. Bill Payment - Direct Entry
8.1
You must ensure that the transfer amounts and details specified are correct
when
making a transfer from your account to another financial institution.
8.2
The cut off time (as per conditions of 7.3) of 3.00pm Eastern Standard Time
Monday to Friday (except public holidays) also applies.
8.3
The Credit Union is not liable for loss or damage resulting from any
transfer,
unless it is due to conduct mentioned in condition 6.3.
9.
Termination
9.1
The Credit Union may cancel the use of the NetTeller Internet Banking
service at
any time without notice if we believe the service is being misused in a
manner
that would cause loss to you or the Credit Union.
10. Variation of Terms and Conditions
10.1
The Credit Union reserves the right to vary the Terms and Conditions and
may
from time to time make and vary regulations for the proper and convenient
use
of NetTeller Internet Banking and may withdraw any part or all of such
service
whether such regulations are brought to your attention or
not.
11.
Fees and Charges
11.1
The Credit Union's current schedule of Fees and Charges applies to the
NetTeller Internet Banking service, (including BPAY transactions).
Refer to the Schedule of Fees and Charges brochure for details.
12.
Acceptance
12.1
You accept the Terms and Conditions by using the NetTeller Internet Banking
service.
