All member accounts at the Credit Union are subject to the following rules. Accounts include Share, Share Draft, Club and Share Certificate Accounts. Your accounts are not negotiable and are not transferable except on our books. By signing the membership card, you agree to these rules.
Nature of Dividends
Dividends (other than dividends on Share Certificate Accounts) are paid from current income and available earnings, after required transfers to reserves, at the end of the dividend period. Dividend rates are declared by our Board of Directors at it’s discretion based on market conditions and are not tied to a specific index. The rates on all Credit Union accounts (other than Share Certificate Accounts) are variable and may change quarterly after the account is opened. The Board has declared that no dividends will be paid on Share Draft Checking Accounts. The dividend rate and annual percentage yield shown for Share accounts were declared by the Board of Directors on a quarterly basis.*Dividend Rates on all Share accounts can be found here.
Share Certificate Accounts
The minimum deposit to open a Share Certificate Account is $500.00. The dividend rate and annual percentage yield shown below for Share Certificate Accounts are accurate as of the Tuesday of every week (unless Monday is a holiday). You can call (585) 343-5627 or click here to obtain current rate information. The dividend rate will be fixed for the term of your Share Certificate Account. Deposits will be allowed only on the date the Share Certificate Account is opened and on each renewal date, with the exception of the Asset Builder Certificate (when available) into which you can make additions of $50.00 or more at any time. The Maturity Date of your Share Certificate Account is determined at the date of opening the account. If the maturity date is a Saturday, Sunday, or Credit Union holiday, we will pay dividends at the previous rate until the first banking day next succeeding the original maturity date, and that will be deemed the new maturity date. Your Share Certificate Account will not automatically renew. If you do not renew it, the entire balance will be deposited in your Share 0 account and will earn dividends at the rate in effect for Share 0 accounts. Share Certificate Accounts are NOT TRANSFERABLE and may not be used as collateral for any loan.
You Must be a Member
You must maintain a minimum balance of $5.00 in your Primary Share Savings Account at all times to be a Credit Union member and to open other sub-accounts and receive other benefits and services of the Credit Union. You must be 18 years of age to establish and maintain a Share Draft Checking account. If you are under 18 years of age, we will require that a joint member 18 years or older be added to the account.
Balance Computation Method Dividends
Balance Computation Method Dividends are calculated by the Daily Balance Method which applies a daily periodic rate to the principal in your account as of the end of each day. The periodic rate is determined by dividing the dividend rate by 365 (or 366 in a leap year).
Date Dividends Begin to Accrue
Dividends will begin to accrue on cash and non-cash items on the business day you make the deposit to your account.
Compounding and Crediting
Dividends for all accounts other than Share Certificate Accounts will be paid and credited to your account quarterly and, therefore, will compound quarterly. For Share Certificate Accounts, the dividends will be deposited in your Certificate account monthly and, therefore will compound monthly, unless you either elect to have the dividend transferred to your Share 0 account monthly (in which case the dividends will compound quarterly) or you choose to have a check for dividends sent to you monthly (in which case the dividends will not compound). For Share 2 Club accounts, the entire balance will be transferred to the Share 0 account on July 1st. For Share 7 accounts, a check for the entire balance will be issued on October 1st and mailed to you or, with prior written authorization, the balance will be transferred to any sub-account located under the member number.
Early Closure of Your Account
If you close an account other than a Share Certificate before dividends are paid, you will not receive any accrued dividends. If you close a Share Certificate account before its maturity date, we will impose an early withdrawal penalty which will equal 90 days of earned dividends on certificates with maturities of 365 days or less, and 180 days of earned dividends on certificates with maturities greater than 365 days.
For all accounts (other than Share Draft Accounts) – The Credit Union reserves the right to require up to 60 days prior written notice of an intent to withdraw money from one of your accounts (other than your Share Draft Account). In addition, the Credit Union may refuse to permit a withdrawal from any account for, without limitation, the following reasons:
The withdrawal would consist of checks being held and not yet available for withdrawal
There is a dispute about the account, unless a court has ordered the Credit Union to permit withdrawals
A court orders the Credit Union not to permit the withdrawal
You owe the Credit Union money for any reason
The account is pledged as security for a debt
Any document or identification required in connection with the withdrawal is not presented
An owner of the account asks the Credit Union not to permit the withdrawal
Equipment problems at the Credit Union prevent determination of available balance
For Club Accounts
In addition to the above rules, withdrawals from Club Accounts will not be permitted until the account matures. However, you may close the account at any time without penalty. The account must remain closed until the beginning of the next Club cycle (for Share 2 accounts, July 1 and for Share 7 accounts, October 1).
Share 8 Accounts: Bond Savings
As of January 1st, 2012, Financial Institutions may no longer purchase savings bonds for their Members. Instead, savings bonds may be purchased from TreasuryDirect at www.treasurydirect.gov. As a result, Bond-A-Month suffixes may no longer be opened at TVFCU.
If your account is a joint account, each person with a legal or financial interest in the funds in that account is individually responsible for all transactions made by anyone having such an interest in the account. This includes any Debit Card transaction affecting the account. Notices under this Agreement to one of those persons will be deemed notice to all of them.
The following rules apply to joint accounts:
Each joint owner of an account authorizes the other to endorse and to deposit in the account checks or drafts payable to either owner or to both. Each of you authorizes the Credit Union to accept deposits payable to either of you or both and to endorse for you any items deposited without endorsement.
Each joint owner alone may make partial or full withdrawals from the account, may write drafts on Share Draft Checking Accounts, may issue stop payment orders on drafts written by either or both owners, may close out the account, and may transact any other business an individual owner could transact.
Overdraft and Other Debts
If there are not enough funds in your joint account to cover a draft when it is presented to the Credit Union for payment, and the Credit Union pays the draft out of its own funds, all joint owners agree individually and collectively to reimburse the Credit Union, even if the draft was written by only one of you. Likewise, if one of you owes the Credit Union money, you all agree that the Credit Union may use as much of the funds in any account owned by both of you, as is necessary to pay the debt. In addition, if your joint account is restrained or levied upon by a judgment creditor to whom one of you owes money, you agree that the Credit Union may restrain and/or turn over the entire account without liability to the other.
Disputes Between Joint Owners
In the event of a dispute between owners of a joint account, the Credit Union is not required to honor requests by one owner to prevent withdrawals by the other. The Credit Union has no liability for continuing to honor drafts and withdrawals requests. In order to prevent withdrawals for your joint account, you must close the account. You may immediately open a new account in your name only. If you close a joint account, you agree to return to the Credit Union all drafts in your possession which have not yet been issued.
You both agree that you intend to own the money in your joint account as “joint tenants with right of survivorship.” This means that if one of you dies, ownership of the funds in the account passes automatically to the other, and the Credit Union may honor drafts or withdrawal requests signed by the survivor. The Credit Union will not release funds to the survivor, however, until it has received any necessary legal papers.
Each joint owner of a joint Share Savings Account is authorized to access information regarding the account, any sub-accounts or loans tied to the account. That applies even if a loan tied top the account is in the name of only one of the owners of the Share Savings Account.
Special Rules for Share Draft Accounts
Only Share Drafts (checks) and other methods approved by the Credit Union may be used to make withdrawals from a Share Draft Account. The Credit Union may honor (pay) Share Drafts or other written withdrawal requests: which you sign: which are issued by a third-party bill payer at your request and with your authorization; or which is issued by a third party which you have pre-authorized to make debits to your account, even if you did not authorize the particular transaction (subject to your Stop Payment rights described below). (Preauthorized electronic debits to your account are not subject to these rules but, rather, are subject to the terms of the Credit Union’s electronic funds transfer disclosures and agreements.) Once a check is six (6) months old, the Credit Union may elect not to pay it. If there is no stop payment order in effect when we receive the check payment, however, we may elect to pay it. If we do pay the check, you are responsible for the payment.You agree not to write post-dated checks (a check that is dated in the future) on your account. We can assume that all checks presented are payable on demand. We will not be liable to you for paying a post-dated check prior to its maturity date. When paid, Share Drafts become the property of the Credit Union and will not be returned either with the periodic statement or otherwise.
If you do not want us to pay a Share Draft you have written or other written withdrawal request that we would otherwise be authorized to honor, you can order us to stop payment on it by notifying us by mail or telephone. An oral order is binding on us only for fourteen (14) days unless confirmed in writing within that period. The stop payment order takes effect when it is processed in your account and is effective for six (6) months unless renewed in writing. We will send you a confirmation notice for all telephone stop payment orders. Your stop payment order must be timely and must accurately describe the Share Draft by account number, amount and check number. You may stop payment on a Share Draft drawn on your account only if we have not accepted, certified, made final payment on, or otherwise become accountable for the item, except to the extent otherwise required by law. We must be given reasonable opportunity to act on any stop payment order before it can be considered effective. The Credit Union may take a reasonable amount of time (at least twenty-four hours) to process a stop payment order. This means that if a Share Draft or other written withdrawal request is paid after a stop payment order has been given, but before the Credit Union has had a reasonable amount of time to act on it, the Credit Union will not be liable for any resulting loss to you, unless it had failed to act in good faith and with ordinary care. The Credit Union is not obligated to notify you if it pays a Share Draft contrary to your stop payment order. If we fail to honor a proper and timely stop payment order, we will not be liable for more than your actual loss, which may be less than the full amount of the Share Draft or other written withdrawal request. You must establish both the fact and amount of your loss before seeking reimbursement from the Credit Union. If the Credit Union suffers any loss or expense as a result of honoring your stop payment order, you agree to reimburse the Credit Union the amount of its loss or expense. If you have a joint account, we will accept a stop payment order from any owner, regardless of who signed the Share Draft or authorized the written withdrawal request.
Member accounts are insured by the National Credit Union Share Insurance Fund.
Availability of Funds
Our policy is to make funds from your deposits available to you immediately after we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Longer Delays may Apply In some cases; we will not make all of the funds that you deposit by check available to you immediately after your deposit. Depending on the type of check that you deposit, funds may not be available until the seventh business day after the day of your deposit. However, the first $100 of your deposits will be available on the first business day. If we are not going to make all of the funds from your deposit available immediately, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take the action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
You have been a member of the credit union for less than 30 days.
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have repeatedly overdrawn your account in the last six months.
There is an emergency, such as failure of communication or computer equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of deposit. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
Tonawanda Valley Federal Credit Union
Home Banking Agreement and Federal Disclosure
This Agreement governs the use of Tonawanda Valley Federal Credit Union’s Home Banking Service, jointly referred to as the "Service," provided by Tonawanda Valley Federal Credit Union, also referred to as “Tonawanda Valley FCU.” By using the Service to conduct transactions, you agree to the terms of this Agreement.
As used in this Agreement, "account" and "accounts" mean the Tonawanda Valley FCU account in which you are either the owner or joint owner. "Loan account" and "loan accounts" mean any loan you have with Tonawanda Valley FCU. "You," "your," and "yours" mean the person(s) using the Service. "We," "our," us," and "Financial Institution" refer to the individual Financial Institution (Tonawanda Valley Federal Credit Union) that holds your accounts.
Deposit and Credit Agreements
The terms and conditions in this Agreement shall have priority and take precedence over any existing terms and conditions in existing account and loan agreements you have with us in the event of a conflict.
In order to use the Internet Banking Service, you need a computer (in this Agreement, your computer and the related equipment are referred to together as your "Computer") with a web browser (Microsoft Internet Explorer 7.0 or higher), a member number, and Home Banking password. The password is the confidential password you use to access your account(s) through Home Banking.
You are responsible for the installation, maintenance, and operation of your Computer, browser and the software. Tonawanda Valley FCU is not responsible for any errors or failures from any malfunction of your Computer, the browser or the software. Tonawanda Valley FCU is also not responsible for any Computer virus or related problems that may be associated with the use of an online system.
To use Home Banking, you must have at least one Tonawanda Valley FCU account, a Home Banking password and three (3) security questions/answers. Through Home Banking, you will have access to any of your Tonawanda Valley FCU share accounts or loan accounts. Tonawanda Valley FCU reserves the right to deny access to a deposit account or loan account or to deny transactions under certain circumstances.
Description of Home Banking
The Service allows you to perform some or all of the following functions from your Computer:
Online Account Access Functions and Limitations of Transfers
You may use Home Banking to:
(a) transfer funds between your accounts
(b) obtain account balances
(c) obtain history and transaction information on your accounts
(d) obtain loan account balance information. These features are limited to the extent, and subject to the terms, noted below:
i. Your ability to transfer funds between certain accounts is limited by federal law and the Deposit Agreement. You should refer to the Deposit Agreement for legal restrictions and service charges applicable for excessive withdrawals or transfers. Transfers made using the Home Banking Service are counted against the permissible number of transfers described in the Deposit Agreement.
ii.There may be at least a one-business-day delay in transferring funds between your accounts.
Passwords and Security
Your Home Banking password is required to access Tonawanda Valley FCU’s Home Banking. You agree not to give or make available your password to any unauthorized individual. If you believe your password has been lost or stolen, someone has attempted to use the Home Banking Service without your consent, your deposit account(s) or loan account(s) have been accessed, or someone has transferred money without your permission, you must notify Tonawanda Valley FCU immediately. Tonawanda Valley FCU does not maintain a record of your password. If you lose or forget your password, contact Tonawanda Valley FCU immediately so that you may select a new confidential password.
Your Liability for Unauthorized Transfer
Tell us AT ONCE if you believe your account information and/or password have been lost or stolen. Telephoning is the best way of keeping your possible losses down.
Errors and Questions
Telephone us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Your inquiry must include:
1. Your name and member number
2. A description of the error or the transfer you are unsure about and an explanation of why you believe it is an error or why you need more information
3. The dollar amount of the suspected error
4. The date of occurrence.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will generally tell you the results of our investigation within 10 business days of the receipt of your complaint or question (20 business days if the transaction involved an account opened within the past 30 days). If we need more time, however, we may take up to 45 days. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
When you access Home Banking to conduct transactions, the information you enter may be recorded. By using Home Banking, you consent to such recording.
No Signature Required
When using Home Banking to conduct transactions, you agree that the Tonawanda Valley FCU may debit your account to complete the transactions, or honor debits you have not signed.
Disclosure of Account Information to Third Parties
We will disclose information to third parties about your account or transfers you made:
1. When it is necessary to complete the transfers
2. In order to verify the existence and conditions of your account for a third party, such as a credit bureau or merchant
3. In order to comply with a government agency or court orders
4. If you give us written permission
You will not be charged for the "view accounts", or "transfer funds" features of Tonawanda Valley FCU Home Banking. NOTE: Your accounts and loan accounts are still subject to the fees, charges, balance requirements, etc. articulated in the Deposit Agreement and Loan Agreement.
Alterations and Amendments
The terms of this Agreement, applicable fees, and service charges may be altered or amended by Tonawanda Valley FCU from time to time. In such event, Tonawanda Valley FCU shall send notice to you either at your address as it appears Tonawanda Valley FCU's records or by online notice through Home Banking. Any continuation of Home Banking after Tonawanda Valley FCU sends you a notice of change will constitute your agreement to such change(s). Further, Tonawanda Valley FCU may, from time to time, revise or update Tonawanda Valley FCU program, services, and/or related material(s) rendering such prior versions obsolete. Consequently, Tonawanda Valley FCU reserves the right to terminate this Agreement as to all such prior versions of the Tonawanda Valley FCU programs, services, and/or related material(s) and limit access to Tonawanda Valley FCU's more recent versions and updates.
You agree to promptly notify Tonawanda Valley FCU, in writing, of any address change.
Termination or Discontinuation
The use of Home Banking does not require enrollment on your behalf; therefore, termination of Home Banking by you is done by not accessing or using the Service. However, any transactions or payments you have previously authorized will be completed as instructed. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.
In the event of a dispute regarding Home Banking, you and Tonawanda Valley FCU agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and Tonawanda Valley FCU, which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Tonawanda Valley FCU relating to the subject matter of this Agreement. If there is a conflict between what one of Tonawanda Valley FCU's employees says and the terms of this Agreement, the terms of this Agreement have final control.
You may not assign this Agreement to any other party. Tonawanda Valley FCU may assign this Agreement to any present or future, directly or indirectly, affiliated company. Tonawanda Valley FCU may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.
Tonawanda Valley FCU shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Tonawanda Valley FCU. No delay or omission on the part of Tonawanda Valley FCU in exercising any right or remedy shall operate as a waiver of such right or remedy or any other rights or remedies. A waiver on any particular occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement.
This Agreement shall be governed by the laws of the jurisdiction in which Tonawanda Valley FCU is located and by applicable Federal laws and regulations.
You agree to accept this disclosure online rather than a paper disclosure. We recommend you print the entire Agreement and Disclosure for your records.
Terms and Conditions Agreement for Tonawanda Valley Federal Credit Union Internet Bill Pay Service. Note: All references within this document to the terms "Payment Service" and/or "the Service" reflect the Internet Bill Pay Service offered by Tonawanda Valley Federal Credit Union. Electronic Disclosure of the Terms and Conditions Agreement for the Internet Bill Pay Service.
I acknowledge electronic receipt of the Terms and Conditions Agreement ("Agreement") associated with Tonawanda Valley Federal Credit Union's Internet Bill Pay Service and agree that I have read and will abide by this agreement. I also agree Tonawanda Valley Federal Credit Union does not need to provide me with an additional paper (non-electronic) copy of this Agreement unless specifically requested. Further, I understand that a copy of this Agreement can be printed by using my browser's print command and a printer.
Enrollment Request for the Internet Bill Pay Service
Tonawanda Valley Federal Credit Union reserves the right to refuse enrollment in the Internet Bill Pay Service to any member who does not meet the Internet Bill Pay Service criteria which has been established by Tonawanda Valley Federal Credit Union. Included in this criteria is a requirement that subscribers to this service must live within the United States, its possessions and territories.
Internet Bill Pay Service
As used in this Agreement, the term "Payee" means the vendor, biller, person or entity to whom you wish a bill payment to be directed; "Payment Instructions" means the information provided by you to the Service for a bill payment to be made to your Payee (e.g., Payee name, account number, payment amount, payment date, etc.); "Payment Account" means your Checking Account and, in the instance of non-sufficient funds and/or an overdrawn account, any applicable share account or available balance on line of credit accounts (e.g., line of credit overdraft accounts) at Tonawanda Valley Federal Credit Union, from which all bill payments may be made and/or such funds collected; "Business Day" means Sunday through Friday, excluding Federal holidays; "Payment Date" means the Business Day of your choice upon which your bill payment will be made and your Payment Account will be debited; and "Cutoff Time" means approximately 10 minutes before your designated debit time (Eastern Standard Time on any Business Day) and is the time by which you must transmit instructions to have them considered entered on that particular Business Day.
By providing the Payment Service with the names and account information of those entities and/or persons to whom you wish to direct payment, you authorize the Service to follow the Payment Instructions that it receives from you or your authorized user through the Internet Bill Pay Service. When the Service receives a payment instruction, you authorize it to debit your Payment Account and remit funds on your behalf so that the funds arrive as close to the Business Day designated by you as soon as reasonably possible. For this reason, it is necessary that all Payment Dates selected by you be no less than seven (7) to ten (10) Business Days before the actual due date for payments that are being sent by check and two (2) to three (3) Business Days for ACH payments, (not the late date and/or a date in the grace period). It is your responsibility to schedule your bill payments in such a manner that your obligations will be paid on time. Payment instructions entered after the Cutoff Time or on a non-Business Day will be considered entered in the Service on the next Business Day. If you properly follow the procedures described herein, and the Service fails to send a payment according to the Payment Instructions received, the Service will bear responsibility for all late charges. In any other event, including but not limited to choosing a Payment Date which is not ten (10) Business Days before the due date or on or past the due date stated on your invoice or bill, the risk of incurring and the responsibility for paying any and all late charges or penalties shall be borne by you. A bill payment is "In Process" starting at the Cutoff Time on the Payment Date. A bill payment is a "Pending Payment", starting from the time you enter Payment Instructions until the payment is "In Process." A bill payment is considered "Completed" on the Business Day you selected as the scheduled Payment Date. You may cancel or edit any Pending Payment (including recurring bill payments) by following the directions provided on the Internet Bill Pay system Online Help. There is no charge for canceling or editing a Pending Payment. Please note: we may not have a reasonable opportunity to act on any stop payment or cancellation order given after a payment is "In Process" and it is not possible to stop or cancel a payment which is "Completed." If you desire to cancel or stop any payment which is "In Process", you must call your credit union at (585) 343-5627 or 1-800-722-8224. Although we will make every effort to accommodate your request, we will have no liability for failing to do so. Stop payment requests sent to us via electronic mail or in any other manner will not reach us in time for us to act on your request. Stop payment requests will be accepted only if we have a reasonable opportunity to act on such a stop payment order. If you call, we may also require you to present your request in writing within fourteen (14) days after you call. The charge for each stop payment order will be the then current charge for such service as disclosed in our Rate & Fee Schedule. The Service will use its best efforts to make all your payments properly. However, the Service shall incur no liability if it is unable to complete any payments initiated by you through the Service because of the existence of any one or more of the following circumstances:
If, through no fault of ours, your Payment Account does not contain sufficient funds to complete the payment or transfer, or the transfer would exceed the credit limit of your established line of credit account, if applicable (Note: Tonawanda Valley Federal Credit Union may, at its option, pay a scheduled bill payment which exceeds the balance in the checking account by transferring the amount of the resulting overdraft from your available line of credit or the prime share account, indicated on the Membership Application and Agreement or on any subsequent Account Change Card;
The bill payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction;
The Payee mishandles or delays a payment sent by the Service;
You have not provided the Service with the correct names, phone numbers, or account information for those persons or entities to whom you wish to direct payment;
Circumstances beyond the Service's control (such as, but not limited to, fire, flood, or interference from an outside force) that prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances.
Provided none of the foregoing five (5) exceptions to the Service's performance obligations are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment account or causes funds from your Payment Account to be directed to a person or entity which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account and for directing to the proper recipient any previously misdirected payments or transfers.
Payment will be made to your Payee either electronically via the Automated Clearing House (ACH) or by check. The method of payment depends upon the processing method that can be accommodated by the Payee. The payment may be deducted from your Payment Account by two methods depending upon the amount of the payment and your credit history. The two methods are: 1.) Via an electronic debit through the Automated Clearing House Association (ACH) or 2.) Via a draft drawn on your account and processed through the Federal Reserve System (as if you had written a check drawn upon your Checking Account.) All bill payments debited from your account will appear on your monthly Statement of Account and under the "BILL PAY HISTORY" section of the Internet Bill Pay on the Tonawanda Valley Federal Credit Union Internet Home Banking System. ACH debits will reflect the name of the Payee (e.g., XYZ Utility Company) as well as the date and amount; payments by check will be reflected on your statement with a date, payee and address, and amount. All payments can be viewed with the Payee's name, payment amount and payment date by reviewing your recent payment history under the electronic Payment List option provided to you as part of the Internet Bill Pay Service.
The following payment types are prohibited through the Service:
1. Tax Payments
2. Court Ordered Payments
3. Payments to Payees outside of the United States or its possessions/territories
THE FOREGOING SHALL CONSTITUTE THE SERVICE'S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL THE SERVICE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THE INSTALLTION, USE, OR MAINTENANCE OF THE EQUIPMENT, SOFTWARE, AND OR THE SERVICE.
Exclusions of Warranties
THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
Passwords and Security
To access the Internet Bill Pay service you will need to log on to the Tonawanda Valley Federal Credit Union Internet Home Banking service and then click on the Bill Payment button.
You agree not to give or make available your Tonawanda Valley Federal Credit Union Internet Banking Account Number and Password to any unauthorized individuals. You are responsible for all bill payments you, and your Internet Bill Pay authorized user, authorize using the Service. If you permit other persons to use the Service or your Tonawanda Valley Federal Credit Union Account Number and Password (even though you have agreed not to disclose this information); you are responsible for all transactions they authorize. If you believe that your Tonawanda Valley Federal Credit Union Account Number and Password has been lost, stolen or compromised, or that someone may attempt to use the Service without your consent or has transferred money from your account by accessing your account without your permission, you must notify Tonawanda Valley Federal Credit Union at once by calling us during business hours.
You also agree that Tonawanda Valley Federal Credit Union may revoke your Internet Bill Pay and/or Internet Home Banking account access services if unauthorized account access and/or transactions occur as the apparent result of negligence in the safeguarding of the Account Number and Password(s) belonging to you and/or your authorized user. Further, you agree that, if Tonawanda Valley Federal Credit Union is notified that you have included Tonawanda Valley Federal Credit Union in the filing of a petition of bankruptcy, Tonawanda Valley Federal Credit Union may revoke or refuse to grant you Internet Bill Pay service and/or Tonawanda Valley Federal Credit Union Internet Home Banking account access to your account.
Your Liability for Unauthorized Transfers
If you tell Tonawanda Valley Federal Credit Union within two (2) Business Days after you learn of unauthorized access to your account(s) and/or that your Tonawanda Valley Federal Credit Union Internet Home Banking Account Number and Password has been lost, stolen or compromised, you can lose no more than $50.00. If you fail to notify Tonawanda Valley Federal Credit Union within (2) Business Days after you learn of unauthorized access to your account(s) and/or that your Tonawanda Valley Federal Credit Union Internet Home Banking Account Number and Password has been lost, stolen or compromised, and we can prove that we could have prevented the unauthorized access to your account(s), or use of your Tonawanda Valley Federal Credit Union Internet Home Banking Account Number and Password had you notified us, you could lose as much as $500.00. If your monthly statement or your online account detail reflect any transfers or payments that you did not make, tell us at once. If you do not tell us within sixty (60) days after the first statement which reflected an unauthorized transfer(s) or payment(s) was mailed to you, you may not get back any money you lost after the 60 days, provided that we can prove that we could have stopped someone from taking money if you had told us in time.
Disclosure of Account Information to Third Parties
It is our general policy to treat your account information as confidential. However, we will disclose information to third parties about your account or the transfers you make ONLY in the following situations:
If we return transfers or payments made from your account which are drawn on insufficient funds or if we are unable to complete an electronic transfer or payment because of insufficient funds, or
Where it is necessary for completing transfers, or in order to verify the existence and condition of your account to a third party, such as a credit bureau or merchant.
To a consumer reporting agency for quality assurance.
In order to comply with a governmental agency or court orders.
If you give us your written permission.
Charges or Fees
Click here to view the Fee Schedule for a complete list of the fees that may be imposed in connection with your account(s).
Service fees may be imposed on your account in accordance with the Fee Schedule which accompanies this Disclosure Statement and Agreement.
As a participant in the Internet Bill Pay Service you will not be charged for the service, provided that the service was used during the calendar month. If there is not activity within a calendar month, then a $5.00 fee will be charged to you on the 6th business day of the following calendar month. (Calendar months are January, February, March, April, May, June, July, August, September, October, November and December.) For example, a registered bill pay user that does not have any bill pay activity in May will be charged a $5.00 fee on the 6th business day of June for the service.
Please note: Your Tonawanda Valley Federal Credit Union loan accounts may not be paid by using the Internet Bill Pay Service, but instead may be paid by using the transfer/payment option on the Tonawanda Valley Federal Credit Union Internet Home Banking service or by automatic transfer from your Tonawanda Valley Federal Credit Union Savings account at no charge. Additionally, charges for other transactions and optional services (e.g., Non-Sufficient Funds or Stop Payment Fees) are specified in Tonawanda Valley Federal Credit Unions Rate & Fee Schedule which can be found on the Tonawanda Valley Federal Credit Union Credit Union web site. You agree to pay such fees and charges, and authorize the Service to charge your designated Payment Account for these amounts and any additional charges that may be incurred by you. Any fees associated with your savings or loan accounts will continue to apply. You are responsible for any and all telephone access fees or Internet service fees that may be assessed by your telephone utility and/or Internet Service Provider.
In the Event a Service Transaction Is Returned and/or Overdraws Your Payment Account
In using the Service, you are requesting the system to make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Payment Account (for example, there are not sufficient funds in your Payment Account to cover the transaction), the transaction may not be completed. In some instances you will receive a return notice by secure electronic message via the Tonawanda Valley Federal Credit Union Internet Home Banking service. In these cases, you agree that a non-sufficient funds (NSF) fee will be charged in accordance with Tonawanda Valley Federal Credit Union's established and published fees. Further, you also agree that a NSF fee may be charged to your account even if the payment is not returned but is paid and overdraws your Payment Account.
You agree to promptly notify both Tonawanda Valley Federal Credit Union member service in writing of any address change. Changing your address on the Service does not automatically update your address of record at Tonawanda Valley Federal Credit Union. Similarly, updating your address at Tonawanda Valley Federal Credit Union does not automatically update the address on the Service.
Termination or Discontinuation
In the event you wish to discontinue the Service, you must contact Tonawanda Valley Federal Credit Union Credit Union 10 days prior to the actual service discontinuation date. You must request the service discontinuation by written correspondence sent via the mail. Written notice must be signed and sent to:
Tonawanda Valley Federal Credit Union
P.O. Box 398
Batavia, NY 14021-0398
Tonawanda Valley Federal Credit Union may terminate Service to any individual at any time with cause, but without advance notice. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.
The Service reserves the right to refuse to pay any person or entity to which you may direct a payment. The Service is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. This notification is not required if you attempt to pay tax or court-related payments or payments outside the United States and its possessions/territories (American Samoa, Guam, Marshall Islands, Micronesia, N. Mariana Islands, Palau, Puerto Rico and the Virgin Islands), which are prohibited under this agreement.
Through your enrollment in the Internet Bill Pay Service, you agree that Tonawanda Valley Federal Credit Union (or its third-party bill pay service provider) reserves the right to request a credit agency report and/or a review of your credit rating at its own expense through an authorized credit agency/bureau. In addition, you agree that the Service reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems.
In the event of a dispute regarding the Service, you and the Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Service which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Service relating to the subject matter of this Agreement. If there is a conflict between what one of the Service's employees says and the terms of this Agreement, the terms of the Agreement shall control.
You may not assign this Agreement to any other party. The Service may assign this Agreement to any future, directly or indirectly, affiliated company. The Service may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third-party service providers.
The Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Service. No delay or omission on the part of the Service in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
The captions of Sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions for the Agreement.
Electronic Fund Transfer
In this document, the term “Card” refers to any Debit Card issued to you by Tonawanda Valley Federal Credit Union (the “Credit Union”). The term “PIN” refers to the Personal Identification Number which will identify a person as being authorized to have access to an account. Therefore, when we refer to your PIN, we mean the PIN which allows you to access your account through the type of transaction being discussed.
Types of Electronic Fund Transfers (EFT)
Limits on transfers
The following summarizes the types of EFT services the Credit Union offers. You must sign for each type of service separately. Therefore, some of the following may not apply to you at this time but may apply to you at some time in the future.
You can arrange to have amounts which are regularly paid to you deposited directly to your account. You may call (585)343-5627 to find out whether or not a preauthorized deposit as been made.
You can use your Debit Card to pay for purchases wherever such cards are accepted. Such payments will be withdrawn from your designated Share account. The Credit Union is not responsible if any party refuses to honor your Debit Card.
Automated Teller Machine (ATM)
Services and Point-of-Banking (POB) Facilities
Using your Debit Card and PIN you may make withdrawals from your accounts at any ATM and POB facilities which the Credit Union may designate from time to time. A list of designated ATM and POB facilities may be obtained at any Credit Union office.
Limitations at ATM and POB Facilities
You may withdraw up to $500 in cash or the available balance in your account, whichever is less, per business day and $250 during weekends and/or holidays, including three-day holidays. Recent deposits – cash or checks – may not be available for withdrawal until the second business day after the date of your deposit. For security reasons, there are limits on the number of transfers you can make using our terminals.
Your Debit Card (if any) is subject to a maximum limit which will be disclosed when your application for the Debit Card is approved. The amount of purchases you can make with your Debit Card cannot exceed your approved authorization limit minus any outstanding purchases made in the preceding (7) day period. If your use of the Debit Card results in the Credit Union paying out more than the balance in your Share Draft account plus your available Line of Credit (if any), you must pay the overdrawn amount to the Credit Union immediately on its demand.
No Use for Illegal Transactions
You agree not to use the Card or PIN in connection with any illegal transaction. The Credit Union may assume, without any further inquiry, that all transactions made by you or someone authorized by you using the Card or the PIN are legal, even if the Credit Union has actual or imputed knowledge of information which might reasonably lead it to question whether a particular transaction is legal.
You will receive a receipt at the time you make any transaction from or to your account at one of the ATM or POB facilities and each time you make a purchase using your Debit Card.
Statement of Account
You will receive a monthly statement for each account which will include a full description of all Debit Card and EFT transactions. In the event that there are no transactions on your account during a statement period, the Credit Union may elect to send you a statement at least quarterly.
If you effect a transaction with your Credit Card in a currency other than U.S. dollars, MasterCard International Incorporated will convert the charge into a U.S. dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue the MasterCard cards. Currently the currency conversion rate used by MasterCard International to determine the transaction amount in U.S. dollars for such transactions is generally either a government mandated rate or a wholesale rate determined by MasterCard International for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International. The currency conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or statement posting date.
Credit Union’s Failure to Make Transfers
If we do not complete a transfer to or from your account(s) on time or in the correct amount, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable if, through no fault of ours, you do not have enough money in your account to make the transfer; the transfer would go over the credit limit on your overdraft line (if any); if the ATM where you are making the transfer does not have enough cash; if the ATM is not working properly and you knew about the breakdown when you started the transfer; if your funds are subject to legal process or other encumbrance restricting the transfer; if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken. There may be other exceptions as provided elsewhere in this Agreement.
No Stop Payment Orders Allowed on ATM, POB or Purchase Transactions
In consideration of our issuing the Debit Card, and in view of the immediate recording of some Debit Card transactions, you may not stop payment on any Debit Card transaction. (However, if you use your Debit Card to obtain advances under a Line of Credit, other rules may apply. See your Line of Credit Agreement for those rules.)
Address and Telephone Number to Notify if Your Card has Been Lost or Stolen or if Authorized Use of the Account Occurs
TELL US AT ONCE if you believe your Debit Card and/or PIN has been stolen or if you believe a transaction has been or may be made on your account without your permission. If you tell us orally, we may require that you send a letter to Tonawanda Valley Federal Credit Union, P.O. Box 398, Batavia, New York 14021.
Your Liability for Unauthorized Transfers
TELL US AT ONCE if you believe your Debit Card or your PIN has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your maximum overdraft line of credit (if any). If you tell us within two(2) business days, you can lose no more than $50 if someone used your Debit Card and/or PIN without your permission. IF YOU DO NOT TELL US within two (2) business days after you learn of the loss or theft of your Debit Card or PIN, and we can prove we could have stopped someone from using your Debit Card or PIN without permission if you had told us, you could lose as much as $500.Also if your statement shows transfers that you did not authorize, tell us AT ONCE. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason, such as a long trip or hospital stay, kept you from telling us, we will extend the time periods.
In Case of Errors or Questions About Electronic Fund Transfers
Telephone us at (585) 343-5627, write us at Tonawanda Valley Federal Credit Union, P.O. Box 398, Batavia, New York 14021, or email us at firstname.lastname@example.org, as soon as you can, if you think your periodic account statement is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later that sixty (60) days after we sent the first statement on which the problem or error appeared.
Tell us your name and account number.
Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or questions in writing within ten (10) business days. We will tell you the results of our investigation within ten (10) days and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) calendar days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. If the alleged error pertains to a Point-of-Sale Debit Card transaction, or a transaction initiated outside the United States, the District of Columbia, or Puerto Rico, the forty-five (45) calendar day period becomes ninety (90) calendar days. If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
We consider every day a business day except, Saturdays, Sundays and federal holidays. See our calendar for holiday hours.
Disclosure of Account Information to Third Parties
Without your written permission, we will not disclose information about your account to third parties except (a) where necessary to complete a transfer, (b) to verify the existence and condition of your account for a third party (such as the credit bureau or merchant), or (c) in order to comply with government agency or court orders.
Your Debit Cards are the property of the Credit Union and are not transferable. You must destroy or return the Debit Cards to us upon our request and/or upon termination of this Agreement. From time to time we may issue replacement Debit Cards.
You are responsible for any transactions made by you and by anyone else you authorize to use your Debit Card or your PIN.
Amendments, Alterations, Termination and Assignment
The Credit Union may change the terms of this Disclosure Statement and Agreement at any time. You will receive written notice of the changes to the extent required by law. You or the Credit Union may terminate this Agreement and your privileges under this Agreement at any time without prior notice except that to cancel your Debit Card or Share Draft account to which it is tied, you must give 15 days prior notice. Termination of the Agreement in no way affects your responsibility for transactions occurring before termination or made using your Debit Card or PIN after termination. You may not assign your rights and any attempted assignment will be void.
The terms of this Agreement, applicable fees and service charges may be altered or amended by the Service from time to time. In such event, the Service shall send notice to you at your address of record or by secure electronic message via the Tonawanda Valley Federal Credit Union Internet Home Banking service. Any use of the services after the service sends you a notice of change will constitute your agreement to such change(s). Further, the Service, may, from time to time, revise or update the programs, services, and/or related material, which may render all such prior versions obsolete. Consequently, the Service reserves the right to terminate this Agreement as to all such prior versions of the Internet Bill Pay programs, services, and/or related material and limit access to the Service's more recent revisions and updates.
This Agreement shall be governed by and construed in accordance with the laws of the State of New York, United States of America, without regard to its conflicts of law provisions.
USA Patriot Act
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person that opens an account.
What this means to you…
When you open an account, we will ask you for your name, address, date of birth, and any other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
The terms of these Account Disclosures may be changed by the Credit Union from time to time in accordance with applicable law.
TONAWANDA VALLEY FEDERAL CREDIT UNION
ONLINE STATEMENT ACCESS AGREEMENT
PLEASE READ THIS AGREEMENT COMPLETELY BEFORE INDICATING YOUR
AGREEMENT TO ACCEPT YOUR PERIODIC STATEMENTS AND RELATED
TRANSMITTAL OF ELECTRONIC STATEMENTS
By agreeing to the terms and conditions set out below and by electing to receive your statements electronically in the manner set forth in the e-statement Procedures (henceforth "Procedures", listed below), you agree to accept your TONAWANDA VALLEY FEDERAL CREDIT UNION (henceforth “TVFCU”, listed below) statements and all disclosures related to your statements electronically by a visual text to be displayed on a personal computer monitor. You request that TVFCU transmit your statement to you electronically, and you agree to the terms and conditions set forth in this Agreement.
You acknowledge that you will be able to retrieve your statements electronically through TVFCU's online banking which you will access with security questions and a password. You acknowledge that, if you disclose your password to anyone else or if your password is lost or stolen, third parties may be able to access your TVFCU statements. You agree that TVFCU will not be liable for any loss caused by the authorized or unauthorized use of your password by any third party to access your statements. You agree to keep your password in a place of safekeeping and you agree that the security of your password will be your responsibility at all times. You agree to the security methods and techniques set out in the Procedures. You agree that TVFCU will not be liable for any loss arising out of your use of e-statements if TVFCU observes the security methods presently set out in the Procedures, or as amended in the future. Further, you agree that TVFCU will not be liable for any loss arising out of your use of e-statements under any circumstances if you fail to observe the Procedures and the recommendations set forth in the Procedures.
You acknowledge and agree that, by requesting that your statements be delivered electronically, you will not receive paper statements. You acknowledge and agree that, if TVFCU in its judgment believes that the transmission of your statements electronically is no longer viable, or that any such transmission may give rise to security or operational concerns, TVFCU may cease the electronic delivery of your statements and provide you with paper statements in lieu thereof.
You acknowledge and agree that you have read and you understand TONAWANDA VALLEY FEDERAL CREDIT UNION’s e-statement Procedures set out herein, that any e-mail address you provide to TVFCU is accurate, that you will promptly notify TVFCU of any change associated with your e-mail address directly through TVFCU’s Home Banking, that you will promptly notify TVFCU if you believe that your password has been lost or compromised, that you have a computer that meets the minimum system requirements set out in the Procedures, and that you have a printer or have access to a printer with the ability to download information in order to keep copies of your statements for your records.
TONAWANDA VALLEY FEDERAL CREDIT UNION E-STATEMENT PROCEDURES
To log on: Go to our Website
(URL www.tvfcubatavia.com) Click on the Login page for TVFCU’s Home Banking. Enter your Member Number and the randomly generated code and click the next button. Your "Member Number" is your account number at TVFCU. Then type in the answer to your security question. Finally, type in your password and you will then be logged into TVFCU’s Home Banking.
To sign up: Login to your account using Home Banking
(URL www.tvfcubatavia.com). Click on the Login page for TVFCU’s Home Banking. Login (if you do not have access, contact TVFCU), hover over the Account tab and then click on E-Statements. This takes you to the Online Statement Access Agreement. After reading this agreement, if you agree to the terms and conditions described, select the “I Accept” button and then click “Continue”. You will then be taken to your most recent account statement.
TVFCU’s E-Statement site
The following tabs will be available to you:
Current Statement – Displays your most recent account statement.
Previous Statement(s) – Displays all previous statements since enrolling your account for E-Statements.
Newsletters – Displays a link to TVFCU’s newsletters.
Customer Service – Displays contact information for TVFCU if you require assistance using the E-Statement site. Also allows you to change your statement delivery method back to paper.
Disclosure Information – Displays TVFCU’s E-Statement Online Statement Access Agreement and TVFCU’s E-Statement Terms and Conditions.
Exit – Will log you out of the E-Statement site.
Minimum System Requirements
You must have a modern personal computer with the ability to view text displayed on a webpage. Also, you must have the ability to view and/or save your e-statements to keep for your records.
For the best experience, we recommend that you use Microsoft® Internet Explorer 8.0 or higher.
Your Billing Rights - Keep This Notice for Future Use
This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
NOTIFY US IN CASE OF ERROR OR QUESTIONS ABOUT YOUR STATEMENT.
If you think your statement is wrong, or if you need more information about a transaction on your statement, write to us on a separate sheet at the address listed on your statement. Write to us as soon as possible. We must hear from you no later than sixty (60) days after we sent you the first statement on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:
1. Your name and account number.
2. The dollar amount of the suspected error.
3. Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are not sure about.
After we receive your letter, we cannot try to collect any amount you question or report you as delinquent. We can continue to send statements to you for the amount you question, including finance charges, and we can apply an unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your statement that are not in question.
If we find that we made a mistake on your statement, you will not have to pay any finance charges related to any questioned amount. If we didn't make a mistake, you may have to pay finance charges and you will have to make up any missed payments on the questioned amount.
If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten (10) days telling us that you still refuse to pay, we must tell anyone we report to that you have a question about your statement. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS
Write us at the address shown on the first page of this statement which is listed after the words "Direct All Inquiries To," or call us at the telephone numbers shown as soon as you can if you think your statement or receipt is wrong, or if you need more information about a transfer on the statement or receipt. We must hear from you no later the sixty (60) days after we sent you the FIRST statement on which the error or problem appeared.
1. Tell us your name and account number.
2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information.
3. Tell us the dollar amount of the suspected error.
We will investigate your complaint and will correct any error promptly. If we take more than ten (10) business days to do this, we will re-credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation.