The Communal Co-operative Credit Union Ltd. - Grenada



In consideration of the Credit Union permitting the Cardholder to use the Communal Co-operative Credit Union Ltd Visa Debit Card (“the Card”), the Cardholder and the Communal Co-operative Credit Union Ltd (referred to the hereinafter as “the Credit Union”) agree as follows:

OWNERSHIP & USE

1. The Card remains the property of the Credit Union and is non-transferable. The person availing the Card facility (referred to

hereinafter as “the Cardholder”) shall return the Card to the Credit Union upon request.

2. The Credit Union, in its absolute discretion and without prior notice may at any time cancel, refuse to reissue, renew or replace the

Card or withdraw the Card.

3. The Cardholder will use the Card strictly in accordance with the Credit Union instructions.

4. The Card does not confer any right to overdraw the account to be debited for use of the Card as nominated by the Cardholder

(referred to hereinafter as “the Designated Account”).

5. If the Cardholder receives more cash than he/she requested from any Automated Teller Machine (“ATM”) he/she shall report this occurrence to the Credit Union immediately. The Credit Union reserves the right to recover the excess cash from the Cardholder.

6. A Cardholder shall provide written instructions to the Credit Union for the cancellation or non-renewal of the Card one (1) month prior to the expiry date as specified on the Card.

7. The Credit Union is entitled to debit the Designated Account of the Cardholder for all transactions including cash withdrawals completed using the Card.

8. Each transaction effected by the means of the service will be debited or credited to the Cardholder’s Designated Account in

accordance with the Credit Union’s normal practice as revised from time to time.

9. Any sales slip signed by the Cardholder at merchant outlets for Point-of-Sale (“POS”) transactions shall be the conclusive proof of the charges recorded therein as incurred by the Cardholder and will be charged by the Credit Union to the Cardholder’s Designated Account.

10. The transaction log of ATM transactions shall be the conclusive proof of the charges recorded therein as incurred by the Cardholder

himself/ herself. The verification of the Personal Identification Number (“PIN”) confirms the authenticity of the Cardholder and the transaction.

11. The records of the Credit Union with respect to the contents of the envelopes placed inany Automated Teller Machine (“ATM”) shall be conclusive and binding upon the Cardholder himself/ herself. The content of such envelope is subject to verification and acceptance by the Credit Union. All deposit items are subject to final settlement.

12. The Credit Union shall endeavor to credit envelope deposits to the Cardholder’s account no later than one (1) working day after

receipt of the envelope. But this may not always take place on the day of lodgment.

13. The Cardholder undertakes to indemnify the Credit Union and to keep the Credit Union indemnified against all losses, damages, costs or expenses incurred and sustained by the Credit Union arising out of the Cardholder’s failure to observe any of the terms and conditions herein mentioned.

14. The Credit Union may, at any time and without notice, cancel or suspend the right to use the Card entirely or in respect to specific

facilities without, in any case, affecting the Cardholder’s obligation to the Credit Union, which shall remain in force.

15. Use of the Card after notice of withdrawal of the privileges is fraudulent and may be subject to legal action by the Credit Union in

accordance with the prevailing law in the state of Grenada.

SECURITY

16. The Cardholder will exercise all possible care to secure the Card and to prevent its misuse.

17. The PIN or secret number shall be known only by the Cardholder. The Credit Union does not accept responsibility for the loss of funds as a result of the PIN becoming known to any person other than the Cardholder.

18. If the Card is lost, stolen or for some other reason liable to misuse or if the PIN is disclosed in breach of this agreement, the Cardholder must immediately notify any branch of the Credit Union. Such notification must be in writing. Until the Credit Union receives written notification the Cardholder will be liable in respect of any use of the Card.

19. The Credit Union shall not be liable for funds withdrawn from any ATM using the Card.

20. The Credit Union shall not be liable for any purchases completed at merchant outlets using the Card whether or not such transactions have been approved by the Cardholder.

21. It shall be the sole responsibility of the Cardholder to reconcile the transactions posted to their Designated Account every month using statements and/or other Cardholder Account inquiries mechanisms provided to the Cardholder. Any dispute on the Card transactions should be lodged within 15 days of the end of the month in which the transaction has been posted to the Designated Account to avoid rejection due to delay in lodging the claim with Visa International.

FEES AND SERVICE CHARGES

22. The Cardholder will pay on demand all fees and service charges as determined by the Credit Union relating to the Card and the services thereby provided. Such fees and service charges may vary from time to time, at the sole discretion of the Credit Union. The

Credit Union will notify the Cardholder of any such changes to fees and service charges before they become effective.

23. For issuance of replacement Card or PIN if the original is lost or stolen, the Credit Union reserves the right to charge a replacement

fee.

24. Where transactions are disputed by the Cardholder, the Credit Union may, on request, provide a copy of the sales slip to the

Cardholder after payment of the applicable service charge.

25. Monthly statements are not automatically issued for all types of accounts. However, the Cardholder may at any time request the Credit Union to issue a statement on their Designated Account. In such circumstances, the Credit Union reserves the right to charge a fee to issue a statement to the Cardholder.

LOCATION AND OPERATION

26. The Credit Union shall not be liable if it is unable to perform its obligations under the Teller Express service for any reason whatever.

27. The Credit Union shall not be responsible in any way for non-availability of ATM services or POS terminals at merchant outlets for any reason whatsoever and howsoever arising as a result of malfunctioning of the Card or ATM or POS, insufficiency of funds in such machines, mechanical or power failure or otherwise.

EFFECT AND AMENDMENT

28. The terms and conditions of the Credit Union’s Visa Debit Card agreement, rules and regulations governing the operation of the

Cardholder’s Designated Account remain in full force and effect, and apply to all transactions using the Card.

29. The Credit Union may amend this agreement at any time in its sole discretion. The Credit Union will notify the Cardholder of any

amendments to this agreement before they become effective.

30. The Cardholder hereby undertakes to abide by the foregoing terms and conditions.

I/We, the applicant/s, hereby request The Communal Co-operative Credit Union Ltd. to issue the Communal Co-operative Credit Union

LtdVisa Debit Card to me/us to be operated through my/our below mentioned Designated Account.

ACCOUNT NUMBER:

APPLICATION TYPE: NEW CARD

BRANCH: HEAD OFFICE

TYPE OF ACCOUNT: SINGLE JOINT: ☐

ACCOUNT HOLDER 1:

FIRST NAME:

LAST NAME:

INITIALS

ADDRESS:

TELEPHONE NO: HOME

WORK MOBILE

EMAIL ADDRESS:

ACCOUNT HOLDER 2: (WHERE APPLICABLE)

FIRST NAME: LAST NAME: INITIALS

ADDRESS:

TELEPHONE NO: HOME WORK MOBILE:

EMAIL ADDRESS:

STATEMENT OPTION: I/We would like a quarterly statement on my/our Designated Account☐

I/We hereby confirm that the information provided above is true and correct to the best of my knowledge. I/We agree that the Communal Co- operative Credit Union Limited reserves the right to accept or reject my application without assigning any reason whatsoever. I/We hereby irrevocably authorize the Communal Co-operative Credit Union Limited to debit my/our above mentioned account for the settlement of transaction amounts arising as a result of the utilization of the Communal Co-operative Union Limited Visa Debit Card issued in the above name/s including any re-issued Cards and agree to undertake full liabilities for all the fees, service charges or interest that may be applicable due to the utilization of the Cards, together with any further sum to which the Credit Union may be entitled in respect of the transactions.

I/We confirm that I/we have received, read and understood the terms and conditions governing the use of the Communal Co-operative Credit Union Limited Visa Debit Card and its consequences printed as part of this form and agree to abide by them unconditionally. In the event I/we fail to abide by such rules, terms and conditions, I/we shall bear the damage and or penalties as a consequence thereof.

I authorize transfer from my regular savings account to my debit card savings account in the amount of $ .

Applicant’s Signature:

Account Holder 1

Date

Account Holder 2

Date

FOR OFFICIAL USE ONLY

NAME ON CARD 1 CARDNUMBER:

NAME ON CARD 2

CARDNUMBER:

Application received by

Application entered by

Application Verified by:

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COMMUNAL CO-OPERATIVE CREDIT UNION LTD.

VISA DEBIT CARD – CARDHOLDER AGREEMENT

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