Funds Transfers

You may make the following types of funds transfers:

* Transfer funds from checking to checking.

* Transfer funds from checking to savings.

* Transfer funds from savings to savings.

* Transfer funds from savings to checking.

* Transfer funds from your Membership to another Membership within the credit union.

* Make payments from checking to loan accounts.

* Make payments from savings to loan accounts.

* Transfer available funds from equity lines and lines of credit to checking and savings accounts.

* You may make arrangements for one time, on demand transfers or loan payments or make scheduled transfers to occur in the future or on a recurring basis.

Money Market and Savings Deposit Accounts - You may make no more than six (6) transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle (or similar period) of at least four (4) weeks, to another of your accounts (including a transaction account) with us or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by you and payable to third parties. These limitations are defined by federal regulations, and we are required to take action if you exceed the number of transfers or withdrawals allowed.

Transfers and payments made after 5:00 p.m. will not be credited until the next business day.

It is our responsibility to process all transfers and bill payments properly initiated through the Internet & Mobile Banking service in accordance with this Agreement. We will use our best efforts to comply with your instructions promptly and properly. However, L&N Federal Credit Union shall incur no liability if we are unable to complete any requests, payments or transfers initiated by you because:

• You have failed to provide the correct Username or Password.
• Through no fault of the Credit Union, you do not have sufficient funds available in your account.
• A legal order directs us to prohibit withdrawals from your account(s).
• Your account has been closed or a hold has been placed on your account.
• You, or anyone you allow, commits any fraud or violates any law or regulations.
• The equipment, phone lines, or computer systems were not working properly or were temporarily unavailable.
• You have not properly followed the instructions for operating the software or equipment, or for initiating a transfer or bill payment.
• You have not given complete, correct, and current instructions on how to make a transfer or bill payment.
• You do not authorize a bill payment soon enough for your payment to be made and properly credited by the payee by the time it is due.
• You have not provided the correct name, address, phone number, or account number for the payee.
• A timely bill payment is made, but the payee nevertheless does not credit your payment promptly after receipt.
• Circumstances beyond our control (e.g., fire, flood, power outage, equipment or technical failure or breakdown) prevent the transaction despite reasonable precautions that we have taken.
• You default under any agreement with us, or if you terminate this Agreement.

There may be other exceptions not specifically stated in this Agreement with you.

The account balances shown on Internet & Mobile Banking may not reflect your balance due to deposits that may be in progress, outstanding checks or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. The balance will show the most current as of date.

External Transfer Service

External Transfer Service enables you to transfer funds between Account(s) that you maintain with us and Account(s) that are maintained by you at other financial institutions.

Acceptance of Terms

This Agreement sets out the terms and conditions (the "Terms") on which our service provider and L&N Federal Credit Union will provide. When you click on the "I Agree to accept the Terms and Conditions" button, you agree to accept the Terms, including any amendments to this Agreement or any changes in the Terms. If you do not agree to all of the Terms, do not accept the Terms & Conditions. If you do not accept and agree to all of the Terms, you will not be entitled to use the Service. L&N Federal Credit Union reserves the right to change the Terms under which the Service is offered at its sole discretion at any time

1. Definitions.
"Account" means checking, money market or savings accounts. "Recipient Account" or "To Account" is the account to which your funds will be credited. "Sender" or "From Account" means the Transaction Account holder initiating a transfer through the External Transfer Service. "Transaction Account" is the Account from which your funds will be debited, or to which funds will be returned. "Transfer Instruction" is the information provided by you to the External Transfer Service for a transfer of funds to a Recipient Account.
2. Transfer Authorization and Processing.
You represent and warrant that you are the sole owner or legal owner of the Transaction Account and the Recipient Account and that you have all necessary legal right, power and authority to transfer funds from the Transaction Account to the Recipient Account. Further, you represent and warrant that the Recipient Account is located in the United States. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf to the Recipient Account designated by you and to debit one of your Accounts. You also authorize us to reverse a transfer from your Recipient Account if the debit is returned from the Transaction Account for any reason, including but not limited to nonsufficient funds.
3. Transfer Methods and Amounts.
We may, at our sole discretion, impose limits on the amount of money you can transfer through our External Transfer Service. We also reserve the right to select the method in which to transfer funds on your behalf, and the method to return funds to you in the event that the Recipient Account is closed or otherwise unavailable to us.
4. Transfer Cancellation Requests and Refused Transfers.
You may cancel a transfer at any time until it begins processing. We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Transaction Account.
5. Stop Payment Requests.
If you as a Sender desire to stop any transfer that has already been processed, you must contact us. Although we will make a reasonable effort to accommodate your request, we will have no liability for failing to do so. We may also require you to present your request in writing within fourteen (14) days.
6. Your Responsibilities for Accurate Information.
Your enrollment in the External Transfer Service may not be fulfilled if we cannot verify your identity or other necessary information. It is your responsibility to ensure the accuracy of any information that you enter into the External Transfer Service, and for informing us as soon as possible if you become aware that this information is inaccurate. You may not use a P.O. Box as a postal address. We will make a reasonable effort to stop or recover a transfer made to the wrong Recipient Account once informed, but we do not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by you. We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:
1. If, through no fault of ours, the Transaction Account does not contain sufficient funds to complete the transfer or the transfer would exceed the credit limit of your overdraft account;
2. The External Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
3. The transfer is refused;
4. You as a Sender have not provided us with the correct information, including but not limited to the correct Transaction Account or Recipient Account information; and/or,
5. Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances.
7. Failed Or Returned Transfers.
In using the External Transfer Service, you are requesting us to make transfers for you from your Transaction Account. If we are unable to complete the transfer for any reason associated with your Transaction Account (for example, there are insufficient funds in your Transaction Account to cover the transaction), the transfer may not be completed. In some instances, you will receive a return notice from us. In each such case, you agree that:
1. You will reimburse us immediately upon demand the transfer amount that has been returned to us;
2. You may be assessed a fee by us if the transfer is returned because you have insufficient funds in your Transaction Account to cover the requested transfer or if we cannot otherwise collect the funds from you; the fee amount will be as set forth in your fee schedule from us or your Account agreement with us. You hereby authorize us to deduct these amounts from your designated Transaction Account by ACH debit;
3. You will reimburse us for any fees or costs we or they incur in attempting to collect the amount of the return from you; and,
4. We are authorized to report the facts concerning the return to any credit reporting agency.
8. Refused Transfers.
We reserve the right to refuse any transfer to a Recipient Account. We will notify you promptly if we decide to refuse to transfer funds to a Recipient Account. This notification is not required if you attempt to make a prohibited transfer under this Agreement.
9. Returned Transfers.
In using the External Transfer Service, you understand transfers may be returned for various reasons such as, but not limited to, Recipient Account number is not valid. We will use reasonable efforts to research and correct the transfer to the intended Recipient Account or void the transfer and credit your Transaction Account. You may receive notification from us.
10. Service Providers.
We are offering you the External Transfer Service through one or more service providers with whom we have contracted some or all of the service on our behalf. You agree that we have the right under this Agreement to delegate to our service providers certain rights and performance obligations that we have under this Agreement, and that our service providers will be intended third party beneficiaries of this Agreement and will be entitled to the applicable rights and protections that this Agreement provides to us.