Transfer Funds to Your Bank

Lifetime Co-operative Credit Union Ltd.’s DEPOSIT TRANSFER AGREEMENT ACCEPTANCE OF TERMS


This Agreement sets out the terms and conditions (Terms) upon which Lifetime Co-operative Credit Union Ltd. (The Credit Union) will provide its members with the ability to request the direct deposit of money from their account with the Credit Union to their bank or financial institution account (the Service) and serves as a legally binding agreement between you and the Credit Union. When you click on the "I Agree" button, you are accepting the Terms, including any amendments to this Agreement or any changes in the Terms.

The act of selecting the aforementioned button not only indicates your acceptance but also serves as your electronic signature which has the same legal effect as your hand written signature. If you do not accept and agree to all of the Terms, you will not be entitled to use the Service. The Credit Union reserves the right to change the Terms, under which the Service is offered at any time; however, the Credit Union will notify you of any material change to the Terms.

If your Credit Union account associated with Service has been closed you will have no further right or access to use the Service.

Subject to these Terms and Conditions, “Member” means an individual who is registered with the Credit Union as a member in good standing and who has completed the Credit Union’s form hosted on the Credit Union's website.

Subject to this agreement, the Credit Union shall be responsible for the operation and integrity of the Service.


ELECTRONIC SIGNATURE

I agree that my electronic signature shall create a binding agreement between me and Lifetime Co-operative Credit Union Ltd. and I further agree that my electronic signature acts as an original signature for the purpose of this agreement.

TERMS AND CONDITIONS

The Credit Union reserves the right to obtain such additional information as we deem reasonably necessary to insure that you, or persons to whom you may transfer funds, are not using the Service in violation of law, including, but not limited to, laws and regulations designed to prevent "money laundering" or the transfer of funds to or from persons or organizations whose accounts are blocked under any law or regulation.

By using the Service, you represent and warrant to the Credit Union that you have the right to authorize transfers between your account with the Credit Union and your account at your bankor any other account and you are not violating any third party rights. You warrant and represent that the information you are providing to us is true, current and complete. You hereby authorize the Credit Union to use information submitted by you to facilitate external transfers in proving the Service to you. YOU ACKNOWLEDGE AND AGREE THAT WHEN THE CREDIT UNION IS EXECUTING A DEPOSIT TRANSFER FROM OR TO ANY OF YOUR ACCOUNTS, YOU AGREE THAT WE SHALL NOT BE LIABLE FOR ANY COSTS, FEES, LOSSES OR DAMAGES OF ANY KIND INCURRED AS A RESULT OF (1) OUR ACCESS TO YOUR ACCOUNTS; (2) OUR ABILITY OR INABILITY TO DEBIT AND/OR CREDIT THE ACCOUNTS IN ACCORDANCE WITH YOUR FUNDS TRANSFER INSTRUCTIONS; (3) ANY INACCURACY, INCOMPLETENESS OR MISINFORMATION CONTAINED IN THE INFORMATION RETRIEVED FROM THE ACCOUNTS; (4) ANY CHARGES IMPOSED BY OTHER FINANCIAL INSTITUTIONS AND (5) ANY FUNDS TRANSFER LIMITATIONS SET BY THE FINANCIAL INSTITUTIONS OR OTHER PROVIDERS OF THE ACCOUNTS.

Electronic Communications

A. The Service is an electronic, Internet based-service. Therefore, you understand and agree that this Agreement will be entered into electronically, and that the following categories of information ("Communications") may be provided by electronic means: • This Agreement and any amendments, modifications or supplements to it. • Your records of external funds transfers, including without limitation confirmations of individual transactions. • Any initial, periodic or other disclosures or notices provided in connection with the Service • Any member service communications, including without limitation communications with respect to claims of error or unauthorized use of the Service. • Any other communication related to the Service. Although the Credit Union reserves the right to provide communications in paper format at any time, you agree that we are under no obligation to do so. All communications in either electronic or paper format will be considered to be "in writing." You should print a paper copy of this Agreement and retain the copy for your records.

B. You agree to update your contact information and to promptly alert us if your e-mail address or other information changes.


Member Liability

You agree to notify us AT ONCE if you identify unauthorized deposit transfers or unauthorized requests for deposit transfers or if applicable, if your password has been lost or stolen.

You understand that if you provide the Credit Union with incorrect information or if there is any error in your instruction we will make all reasonable efforts to reverse or delete such instructions, but you accept full responsibility for losses resulting from any of your errors, duplication, ambiguities or fraud in the information that you provide. You agree not to impersonate any person or use a name that you are not authorized to use. If any information you provide is untrue, inaccurate, not current or incomplete, we reserve the right to recover from you any costs or losses incurred as a direct or indirect result of the inaccurate or incomplete information.

Error Reporting and Claims

In case of errors or questions about your deposit transfers, telephone us at Tel No. (246)-431-0803. You should contact us as soon as possible, if you think your statement is wrong or if you need more information about a transfer listed on the statement.

The Credit Union is not responsible for errors, delays and other problems caused by or resulting from the action or inaction of your bank or financial institution. Although the Credit Union will try to assist you in resolving any such problems, you understand that any such errors, delays or other problems are the responsibility of your bank or the relevant financial institution. You are permitted to use the Service only as expressly authorized by this Agreement.


No Unlawful or Prohibited Use

As a condition of using the Service, you warrant to the Credit Union that you will not use the Service for any purpose that is unlawful or is not permitted, expressly or implicitly, by the terms of this Agreement or by any applicable law or regulation. Your right to use the Service is personal and non-transferable and you are fully responsible and accountable for any unlawful use of the Service.

You may not obtain or use the Service to obtain any materials or information through any means not intentionally made available or provided for through the Service. You agree that these warranties and representations will remain in full force and effect even if this Agreement terminates for any reason.

Service Changes and Discontinuation

The Credit Union may modify or discontinue the Service with or without notice, without liability to you, any other user or any third party. We reserve the right, subject to applicable law, to terminate your account and your right to use the Service at any time and for any reason, including without limitation if we, in our sole judgment, believe you have engaged in conduct or activities that violate any of the terms of this agreement, applicable law or the rights of the Credit Union, or if you provide us with false or misleading information. We reserve the right to charge a fee for the use of the Service and any additional services or features that we may introduce. If we decide to begin charging a fee for the Service, we will notify you by mail or electronically prior to enacting the fee. You understand and agree that you are responsible for paying all potential fees associated with the use of the Service. You may terminate theService at any time by calling us at Tel. No. (246) 431-0803 or by e-mailing us at info@lifetimecu.com

Security Procedures

You understand that the bank or financial institution at which you maintain an account may contact us to verify the content and authority of deposit transfer instructions and any changes to those instructions. You understand that, as your agent, we may provide to such financial institution such information as may be required to verify the instructions and may constitute a valid security procedure at the other financial institution according to their rules governing such account.


Deviating from Security Procedures

You agree to allow us to authorize any financial institution at which you have an account to accept deposit and transfer instructions in accordance with any authorization procedures as may be agreed upon from time to time between you and such financial institution, or between the Credit Union, on your behalf, and such financial institution, without verifying the instructions under the established security procedures, regardless of whether such security procedures were agreed by you directly or by the Credit Union on your behalf. In addition you agree that the Credit Union may authorize such financial institutions to charge and debit your accounts based solely on these communications.

Account Number Policy

If deposit transfer instructions identify a bank or beneficiary by name and account number, the relevant financial institution may execute those instructions by reference to the number only, even if the number does not correspond to the name. You understand that such financial institutions may not investigate discrepancies between names and numbers. In addition, you agree that the Credit Union has no responsibility to investigate discrepancies between names and numbers.

Joint Account Holder

When creating or executing a deposit transfer, you confirm that, if any of your accounts is a joint account, your joint account holder has consented for you to use your accounts for the deposit transfer service.

Means of Transfer

You authorize the Credit Union to select any means we deem suitable to provide your deposit transfer instructions to the applicable financial institution. These choices include banking channels; electronic means, funds transfer systems, mail, courier, or telecommunications services, intermediary banks and other organizations.

The Credit Union is not responsible or liable if your or the Recipient's financial institution's system fails and we are unable to complete the transfer. Except as otherwise required by law, the Credit Union shall in no other event be liable for any losses and damages other than those arising from gross negligence or willful misconduct on our part or if we breach a representation or warranty hereunder. • You agree that your deposit transfer instructions constitute authorization for us to complete the transfer. • You represent and warrant to us that you have enough money in the applicable Accounts to make any deposit transfer you request that we make on your behalf through the Service.

You understand and agree that the Credit Union is not liable under any circumstances for any losses or damages if, through no fault of ours, you do not have enough money to make the deposit transfer and the deposit transfer is not completed or is later reversed or if your bank or financial institution does not verify account ownership or your bank or financial institution does not permit the transfer or the deposit transfer would exceed the credit limit on any applicable Lines-of-Credit. •

You also understand and agree that the Credit Union is not responsible for any losses or damages if circumstances beyond our control (such as fire or flood) prevent us from executing a request for deposit transfer.


Limitation of Warranty and Liability

YOU UNDERSTAND AND AGREE THAT THE SERVICE IS PROVIDED "AS-IS" EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT OR AS REQUIRED BY LAW. WE ASSUME NO RESPONSIBILITY FOR THE TIMELINESS, DELETION, MIS-DELIVERY OR FAILURE TO STORE ANY USER COMMUNICATIONS OR PERSONALIZATION SETTINGS. YOU UNDERSTAND AND EXPRESSLY AGREE THAT USE OF THE SERVICE IS AT YOUR SOLE RISK, THAT ANY MATERIAL AND/OR DATA DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DOWNLOADED OR OBTAINED AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OR THE OBTAINING OF SUCH MATERIAL AND/OR DATA, EXCEPT AS EXPRESSLY SET FORTH ON THE CREDIT UNION’S WEB SITE OR IN THIS AGREEMENT. WE DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY OR THIRD PARTY RIGHTS, AND WE MAKE NO WARRANTY OR REPRESENTATION REGARDING THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICE, THE ACCURACY OR RELIABILITY OF ANY INFORMATION OBTAINED THROUGH THE SERVICE, THE ACCURACY OF ANY INFORMATION RETRIEVED BY YOUR BANK OR FINANCIAL INSTITUTION FROM THE ACCOUNTS OR THAT THE SERVICE WILL MEET ANY USER'S REQUIREMENTS, BE UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE. EXCEPT AS DESCRIBED IN THIS AGREEMENT, WE WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OF ANY KIND RESULTING FROM THE USE OF OR THE INABILITY TO USE THE SERVICE, ANY INACCURACY OF ANY INFORMATION OR AMOUNT RETRIEVED BY US FROM THE ACCOUNTS, ANY BREACH OF SECURITY CAUSED BY A THIRD PARTY, ANY TRANSACTIONS ENTERED INTO BASED ON THE SERVICE, ANY LOSS OF, UNAUTHORIZED ACCESS TO OR ALTERATION OF A USER'S TRANSMISSIONS OR DATA OR FOR THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, USE, DATA OR OTHER INTANGIBLES, EVEN IF WE HAD BEEN ADVISED OF THE POSSIBILITY OF SUCH.

DAMAGES. Indemnification

You agree to indemnify, defend and hold harmless the Credit Union, its affiliates, partners, officers, directors, employees, consultants, service providers and agents from any and all third party claims, liability, damages and/or costs (including, but not limited to, attorneys fees) arising from your use of the Service, our reliance on the information, instruction, license and/or authorization provided by you under or pursuant to this Agreement, your violation of the Terms or your infringement, or infringement by any other user of your external funds transfer account, of any intellectual property or other right of any person or entity.




Miscellaneous

You represent and warrant that you are who you claim to be; that you are the rightful owner of all Content and the Accounts linked for the purposes of the Service; and that you are rightfully authorizing us to access the accounts. You agree that our rights and remedies arising out of any breach of your representations and warranties in this Agreement, the limitations on the Credit Union’s liability and our rights to indemnification under this Agreement are continuing and shall survive the termination of this Agreement, notwithstanding the lack of any specific reference to such survivability in these provisions. The Credit Union’s failure to enforce the strict performance of any provision of this Agreement will not constitute a waiver of its right to subsequently enforce such provision or any other provisions of this Agreement. The most current version of this Agreement as it appears on our website, including any amendments that the Credit Union may make from time to time, constitutes the entire agreement between us, and supersedes and replaces all other agreements or understandings, whether written or oral, regarding the external funds transfer service.

This Agreement may be amended, or any of the Credit Union’s rights waived, only if the Credit Union agrees in writing to such changes, or you continue using the Service following receipt of notice of any changes proposed by the Credit Union . All notices to you shall be in writing and shall be made either via e-mail, conventional mail or messages delivered through our internet banking at our discretion. Notices to us must be made in writing and shall be sent by e-mail or conventional mail to our address at 1st Floor James Fort Building, Corner Hincks & Prince Alfred Streets, Bridgetown.

If either of us has any dispute or disagreement with the other regarding this Agreement that we cannot resolve amicably, both parties agree that the sole and exclusive remedy shall be mediation in the first instance and failing resolution by this means, by binding arbitration in accordance with the Laws of Barbados. This Agreement shall be governed by and construed in accordance with the laws of Barbados.

This Agreement shall take effect immediately upon the acceptance of your application for the deposit transfer by us.

ACKNOWLEDGMENT By executing this agreement with my electronic signature, I acknowledge that I have read and or printed a copy of this Deposit Transfer Agreement and agree to abide by the terms of the Agreement.