User Agreement for Transferring Funds

  1. Subject to the provisions of this User Agreement, you may fund a new account you are opening withFAIRWINDS Credit Union (“FAIRWINDS”) by transferring funds from an account you own at another financial institution (the "Debit Account") through your use of a debit card issued by the financial institution at which you maintain the Debit Account or by authorizing FAIRWINDS to accomplish the funding of your account through the Automated Clearing House ("ACH"). You may also fund your new account through the use of PayPal. The service by which you use a debit card or PayPal or authorize an ACH transfer to fund your account is herein called the “funds transfer service.” If you elect to fund your account through authorization of an ACH transfer, you understand FAIRWINDS may originate more than one ACH entry (for example, a paired credit and debit entry) to accomplish the transfer you are requesting, and these ACH entries may be originated in any sequence (for example, a credit may be provided to you in advance of settlement on a paired debit entry against your Debit Account).

  2. You represent that you are at least eighteen (18) years old, a resident of the United States, and have a valid e-mail address. You authorize FAIRWINDS, directly or through third parties, to make reasonable inquiries to validate your identity. You represent that you are the owner of the Debit Account or PayPal Account, as the case may be, and have the right to access, use, and authorize us to debit the Debit Account or PayPal Account, as applicable, in the amount you have specified and credit your new account held with FAIRWINDS for the specified amount.

  3. You agree to use the funds transfer service for legal purposes and not in violation of any laws, including, but not limited to, U.S. laws and regulations designed to prevent money laundering or the transfer of funds to or from persons or organizations whose accounts are blocked under regulations promulgated by the U.S. Treasury Department, such as sanction laws administered by the Office of Foreign Asset Control. As to ACH transfers, you and FAIRWINDS agree to comply with and be bound by the National Automated Clearing House Association Operating Rules ("Rules") and, with regard to Consumer accounts, Regulation E. If you elect to fund your account through the authorization of an ACH transfer, you authorize FAIRWINDS to be an Originator on your behalf and to use an Originating Depository Financial Institution ("ODFI") (as defined under the Rules) chosen by it on your behalf or act as ODFI itself. You agree that if we suspect or believe a transaction is unlawful or suspicious; we may block the transaction, audit your usage of the funds transfer service, and/or take any other action we deem to be reasonable, including under the Unlawful Internet Gambling Enforcement Act of 2006 ("UIGEA") and this Agreement. If you are a non-Consumer, you certify that you are not now engaged and will not use the service in any activity or business that is unlawful under the UIGEA. You agree not to use the funds transfer service in any manner that could damage, disable, overburden, or impair the funds transfer service or interfere with any other party's use and enjoyment of the funds transfer service.

  4. In connection with the funding of your account by ACH transfers, you authorize FAIRWINDS to use Plaid or Micro Deposits for account verification. You agree to the terms and conditions of Plaid if this type of account verification is used for funding by ACH. You authorize FAIRWINDS to make small deposits and/or withdrawals to the Debit Account to confirm your control of the Debit Account if used for account verification for funding by ACH. The withdrawal amount(s) will never be greater than the deposit amount(s). You agree to verify online the amounts of such deposits and/or withdrawals. You understand and acknowledge that the new account will not be funded by ACH debit entry to the Debit Account until such verification is made, and our Service Providers (Meridian Link, Plaid, or Alloy) nor we shall have any liability to you for failure to fund your new account from a Debit Account due to your failure to complete the verification process.

  5. We will process your funds transfer request based on the information you provide. Any errors in the information you provide, including incorrect or inconsistent account names, account numbers, or ABA routing numbers, which you provide to us are your responsibility. We are not required to investigate discrepancies between account numbers and names on the account, and you agree that we are not responsible for investigating such discrepancies and may execute the transaction with only the account number reference, even if the name and the account number do not match.

  6. If your Debit Account has a joint account holder, you represent and warrant that the joint account holder has consented to your use of the funds transfer service to fund your new account.

  7. You may not be able to cancel or revoke a transaction once you have submitted it since the processing of the Debit Card, PayPal transaction, or ACH entry to fund your new account may begin immediately or soon after your transfer request is received by us. For your rights in placing a stop payment on your Debit Account or PayPal Account, refer to the specific account disclosures for the Debit Account or PayPal Account, as applicable.

  8. The Debit Account must be located in the United States. No international ACH or other transactions are supported.

  9. The typical time to fund your new account with us using a Debit Card, PayPal, or the ACH network is up to five (5) business days. However, specific transaction times may vary, and neither we nor our Service Provider guarantee any specific turnaround time to fund your new account with us. You should check your accounts to see the debit or credit of the amount to confirm the status of funds.

  10. You agree that credits to your new account in connection with the funding of your account by an ACH transfer are provisional and subject to returns and/or reversal of the authorized entry through the ACH network. You authorize FAIRWINDS to resubmit debit entries against your Debit Account as needed to fulfill the funds transfer you have requested. For Consumer Accounts, if your payment is returned for insufficient or uncollected funds, you authorize FAIRWINDS Credit Union to make a one-time electronic fund transfer from your account to collect a fee of $35.00.

  11. We, in our sole and absolute discretion, have the right to reject, reverse or cancel any funds transfer service transaction you authorize and/or restrict, condition, or terminate your ability to use the funds transfer service at any time and for any reason or no reason, including, but not limited to (a) insufficient funds in your Debit Account or PayPal Account, as the case may be; (b) suspicious activity; (c) order of any law enforcement agency; (d) inability to verify the information you provided; (e) providing us with false or inaccurate information; (f) hacking, tampering or impacting the funds transfer service functionality, availability or security; (g) using the funds transfer service for unlawful purposes; or (h) failing to cooperate with any information request.

  12. You acknowledge and agree funds deposited through the use of the funds transfer service may not be made available for your withdrawal and use and may be held by us, in our sole discretion, for a period of sixty-five (65) days following the date the funds are deposited into your account. Moreover, deposited funds may be subject to other restrictions set forth in other agreements with us.

  13. In consideration of the agreement by us to act upon your request to make a transfer of funds in the manner provided for in this Agreement, and in addition to the indemnifications and limitations on liability contained in other agreements with us, YOU HEREBY INDEMNIFY AND HOLD HARMLESSFAIRWINDS, EACH OF OUR DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SUCESSORS AND ASSIGNS, AND OUR SERVICE PROVIDERS (“INDEMNITEES”) FROM AND AGAINST ALL LIABILITY, LOSS, AND DAMAGE OF ANY KIND (INCLUDING ATTORNEYS’ FEES AND OTHER COSTS INCURRED IN CONNECTION THEREWITH) INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE IN ANY WAY RELATING TO OR ARISING FROM (A) YOUR USE OF THE FUNDS TRANSFER SERVICE, (B) ANY FAILURE BY YOU TO COMPLY WITH THE TERMS OF THIS AGREEMENT OR BREACH BY YOU OF ANY REPRESENTATION, WARRANTY OR AGREEMENT SET FORTH IN THIS AGREEMENT (C) ANY FAILURE BY YOU TO COMPLY WITH ANY APPLICABLE LAWS AND REGULATIONS, (D) ANY ACTS OR OMISSIONS OF YOU OR ANY THIRD PARTY, OR (E) OUR RELIANCE ON THE INFORMATION YOU PROVIDE. This paragraph shall survive the termination of this Agreement for any reason.

  14. The funds transfer service, information, data, features, and all content on this website are provided on an "as available" basis. WE AND OUR SERVICE PROVIDERS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE, OR EXEMPLARY DAMAGES OF ANY KIND RESULTING FROM THE USE OF OR THE INABILITY TO USE THE FUNDS TRANSFER SERVICE, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES INCURRED BY YOU OR ANY THIRD PARTY ARISING FROM OR RELATED TO THE USE OF, INABILITY TO USE, OR THE TERMINATION OF THE USE OF THE FUNDS TRANSFER SERVICE, ANY INACCURACY OF ANY INFORMATION OR AMOUNT RETRIEVED BY US FROM YOUR ACCOUNTS AT ANY OTHER FINANCIAL INSTITUTION, ANY BREACH OF SECURITY CAUSED BY A THIRD PARTY, ANY TRANSACTIONS ENTERED INTO BASED ON THE FUNDS TRANSFER SERVICE OR ANY LOSS OF, UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA, REGARDLESS OF THE FORM OF ACTION OR CLAIM (WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF WE OR ANY OF OUR SERVICE PROVIDERS HAS BEEN INFORMED OF THE POSSIBILITY THEREOF. WITHOUT IN ANY WAY LIMITING THE FOREGOING, AND EXCEPT AS PROVIDED UNDER APPLICABLE LAW, YOU AGREE FURTHER THE CREDIT UNION AND OUR SERVICE PROVIDERS SHALL NOT BE LIABLE FOR ANY DAMAGES OTHER THAN THOSE CAUSED SOLELY AND DIRECTLY BY SUCH PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AND SUCH PARTY’S LIABILITY SHALL IN NO EVENT EXCEED YOUR ACTUAL DAMAGES. This paragraph shall survive the termination of this Agreement for any reason.

  15. WE MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER REGARDING THE FUNDS TRANSFER SERVICE, THIS WEBSITE, OR ANY CONTENT ACCESSIBLE HEREIN OR AVAILABLE FROM OTHER SITES ACCESSIBLE HEREBY, INCLUDING, WITHOUT LIMITATION, WARRANTY OF MERCHANTABILITY, WARRANTY OF FITNESS FOR PARTICULAR PURPOSE OR USE, WARRANTY OF NONINFRINGEMENT, WARRANTY OF TITLE OR WARRANTY OF ANY OTHER KIND. This paragraph shall survive the termination of this Agreement for any reason.

  16. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. In such states, liability is limited to the extent permitted by law. Accordingly, some of the above limitations may not apply to you.

  17. This Agreement will be governed by and interpreted in accordance with Federal laws and regulations, and to the extent there is no applicable Federal law or regulation pre-empting state law by the laws of the State of Florida, excluding its choice of law rules. In the event legal action is necessary to enforce this Agreement, the prevailing party has the right to payment by the other party of reasonable attorney’s fees and costs, including any appeal and post-judgment actions, as applicable. Except as prohibited by applicable law, you and Credit Union agree that such legal action shall be filed and heard in Orange County, Florida. Any disputes regarding this Agreement shall be within the jurisdiction of the courts of Orange County, Florida. Failure or delay in enforcing any right or provision of this agreement shall not be deemed a waiver of such provision or right with respect to any subsequent breach or a continuance of an existing breach. If any provision of this Agreement shall be held to be unenforceable, that provision will be enforced to the maximum extent possible, and the remaining provisions of this Agreement will remain in full force and effect.

  18. WE EACH AGREE THAT ANY AND ALL DISPUTES MUST BE BROUGHT IN THE PARTIES' INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. YOU AGREE TO WAIVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR LITIGATE ON A CLASS-WIDE BASIS. YOU AGREE THAT YOU HAVE EXPRESSLY AND KNOWINGLY WAIVED THESE RIGHTS.

    WE EACH AGREE FURTHER ANY DISPUTE OR CLAIM RELATING IN ANY WAY TO THE FAIRWINDS ONLINE SERVICES OR THIS AGREEMENT WILL BE RESOLVED BY BINDING ARBITRATION, RATHER THAN IN COURT, except that you may assert claims in small claims court if your claims qualify. The Federal Arbitration Act governs the interpretation and enforcement of this provision; the arbitrator shall apply Florida law to all other matters. Notwithstanding anything to the contrary, any party to the arbitration may at any time seek injunctions or other forms of equitable relief from any court of competent jurisdiction. BY ENTERING INTO THIS AGREEMENT AND AGREEING TO ARBITRATION, YOU AGREE THAT YOU AND WE ARE EACH WAIVING THE RIGHT TO FILE A LAWSUIT AND THE RIGHT TO A TRIAL BY JURY.

    Arbitration will be conducted by the American Arbitration Association (AAA) before a single AAA arbitrator under the AAA’s rules, which are available at www.adr.org or by calling 1-800-778-7879. Payment of all filing, administration, and arbitrator fees and costs will be governed by the AAA's rules, but if you are unable to pay any of them, we will pay them for you. In addition, we will reimburse all such fees and costs for claims totaling less than $75,000 unless the arbitrator determines the claims are frivolous. Likewise, we will not seek our attorneys’ fees or costs in arbitration unless the arbitrator determines your claims or defenses are frivolous. You may choose to have the arbitration conducted by telephone, based on written submissions, or in person in the county where you live or at another mutually agreed location. The decision of the arbitrator shall be final and not appealable, and judgment on the arbitration award may be entered in any court having jurisdiction thereof. This Section shall survive expiration, termination, or rescission of this Agreement.

    In the case where a provision in another agreement we have with you conflicts with a provision in this Agreement, this Agreement will apply to the fund transfer services described herein.

This Agreement will be interpreted according to its fair meaning and shall not be interpreted strictly against or for either party. This Agreement constitutes the entire agreement with respect to the subject matter hereof and supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written, between you and FAIRWINDS.

Electronic Signature: By selecting the "I Accept" button below, you consent and agree to the terms and conditions provided in this User Agreement for Transferring Funds, as if actually signed by you in writing. Further, you agree that no certification authority or other third party verification is necessary to the validity of your electronic signature. You agree that the lack of such certification or third-party verification will not in any way affect the enforceability of your signature or any resulting contract between you and the Credit Union.

August 2020