Regulation 53

European Communities (Payment Services) Regulations 2018

(the ‘’Regulations)

Regulation 53 Information

(this is your ‘framework contract’ with us in relation to the particular account for the purposes of the Regulations)

Credit Union Plus Limited is regulated by the Central Bank of Ireland

Contact Details for the Central Bank are:

Address: New Wapping Street, North Wall Quay, Dublin 1

Telephone: +353 1 224 4000

Fax: +353 1 671 6561

Website: www.centralbank.ie

CONTACT DETAILS FOR CREDIT UNION PLUS LIMITED

Address: Credit Union Plus, Kennedy Road, Navan, Co. Meath

Telephone:  046 90 21395

Fax: 046 90 22493

Website:  www.creditunionplus.ie

Email: info@creditunionplus.ie

Registered Number:  77CU (The Central Bank’s register can be accessed on its website www.centralbank.ie)

Our Business Days are as follows: Monday, Tuesday, Wednesday, Thursday, Friday, Saturday. Branch business days vary, please refer to the branches area of our website for specific branch details.

Your account

The following is a description of the main characteristics of the account and payment services on the account:

• Lodgement and Withdrawal of funds
• Online Account Access
• Standing Orders
• Transferring Funds internally to other accounts

1. Receiving a standing order payment to your account.

When we receive a standing order payment to your account, we will process that payment before 2.00P.M on the next business day. If we are given an order after that time, we will be deemed to have received that order on our next following business day.

If the payment is directed to a branch it will be processed on their next business day, please refer to the branch area of our website for specific branch details.

We can only process a standing order payment, once the correct reference number eg; account number has been given, otherwise the payment may be returned to your bank account if we cannot locate the account holder information.

2. Charges: We only levy a limited number of charges in connection with the accounts that we offer.  Details of these charges are available on request.  These charges are incorporated by reference into this Regulation 53 Information.
3. Interest Rates: If an interest rate applies to your account, you are told this when you open your account and that interest rate is incorporated by reference into this Regulation 53 Information. You can obtain confirmation of that interest rate by contacting us as set out on Page 1.
4. Exchange Rates: If any payment on your account (including a withdrawal by you from your account) involves a currency conversion being made by us, we will use a reference exchange rate that is determined by FEXCO international payments. The reference exchange rate will change daily and this is the basis on which we will calculate the actual exchange rate.  On the date on which we effect the currency conversion, we will take the reference exchange rate that applies on that date, add a fixed amount of 1% commission and the total will be equal to the actual exchange rate that is used by us in the currency conversion plus 1% commission.  You can find out the daily changes to the reference exchange rate by contacting us as set on page 1.
5. Giving you information: If we need to give you information or notice of any matters relating to this Regulation 53 information, we will do so in writing in either the Credit Union office and on our website, unless we state otherwise herein.  Such information or notice will be given to you promptly upon requirement to do so arising.
6. Copy Regulation 53 Information: For as long as you hold this account with us, you have the right to receive, at any time and on request by you a copy of this Regulation 53 Information on paper, or if possible, by secure email.
7. Unauthorised transactions: If you become aware of a transaction on your account that is unauthorised incorrectly executed. You must tell us without undue delay and, in any event, within, thirteen months of that transaction being debited from your account.  You will be entitled to rectification from us if that transaction was unauthorised or incorrectly executed.  If the transaction was unauthorised, we will refund the amount of it to you, if necessary, restore your account to the state that it would have been in if the unauthorised transaction had not taken place PROVIDED THAT:

1. You will bear the loss of an unauthorised transaction on your account, up to a total of €75, if the unauthorised transaction resulted from (a) the use of a lost or stolen payment instrument or (b) your failure to keep the personalised security features of that payment instrument safe;
2. You will bear all losses relating to an unauthorised transaction on your account if you incurred those losses by acting frequently or by failing, intentionally or with a gross lack of reasonable care, to keep the payment instrument and its security features safe, to use it in accordance with any terms that we tell you are applicable to it, and to notify us promptly of it being lost, stolen, misappropriated or used in an unauthorised manner;
3. You will not bear any financial consequences resulting from the use of a lost, stolen or misappropriated payment instrument once you have notified us in accordance with this Regulation 53 Information that it has been lost, stolen, or misappropriated.
4. Our Liability: If you receive a payment in to your account: if you give us and order to make a payment from your account, we are liable to you for its correct execution unless we can prove to you (and if necessary to the beneficiary’s PSP) that the beneficiary’s PSP received the payment. If we are so liable to you for a defective or incorrectly executed order, we will refund the amount of it to you, and if applicable, restore your account to the state that it would have been in if the defective or incorrect transaction had not taken place.  Irrespective of whether we are liable to you or not in these circumstances, we will try to trace the transaction and notify you of the outcome.
5. Duration, changes and termination: Your contract with us, as detailed in this Regulation 53 information is of indefinite duration.  If we want to change any part of this Regulation 53 information (other than our telephone number), we will give you at least two months’ written notice of the proposed change where required by law to do so.  If we change our Business Days of opening, we will give you one month’s written notice.  If you do not notify us within that two-month period that you do not accept the proposed change, you will be deemed to have accepted it.  If you do not want to accept the proposed change, you must notify us in writing and you will be allowed to terminate your contract with us in relation to the account to which this Regulation 53 Information related immediately and without charge before the end of that two-month period.  If we change an interest rate or an exchange rate in a way that is more favourable to you, we have the right to apply that change immediately and write to you soon afterwards confirming that change.  We can change and exchange rate immediately and without notice if that change is based upon the reference exchange rate agreed in this Regulation 53 Information.  You may terminate your contract with us in relation to the account to which this Regulation 53 Information relates on one months’ notice in writing.  We may terminate our contract with you in relation to the account to which this Regulation 53 information relates on giving you two months’ notice in writing.
6. Governing Law and Language: This Regulation 53 Information shall be governed by and construed in accordance with the laws of Ireland, and all communication between us and you during our contractual relationship shall be conducted in English.
7. Redress: If you have a complaint in relation to the matters governed by the Regulation 53 Information, you may be able to refer your complaint to the Financial Services Ombudsman.  Contact details are as follows; Financial Services Ombudsman Bureau, 3^rd Floor, Lincoln House, Lincoln Place, Dublin 2 Lo- call 1890662090, Tel. 01-6620699, Fax. 01-6620890, Email: enquiries@financialombudsman.ie
8. By maintaining and or carrying out transactions on this account, you explicitly consent to us access, processing and retain personal data necessary for the provision of these payment services.