Online Banking Agreement and Disclosure

Online Banking Agreement, Bill Payer Agreement, and Electronic Funds Transfer Disclosure

This Agreement and Disclosure provides information about Smart Financial Credit Union’s Virtual Branch (Internet Banking), Bill Payer Agreement, and the disclosures required by the Electronic Funds Transfer Act. For the purpose of this document, “we”, “us”, and “Credit Union”, shall refer to Smart Financial Credit Union.

Virtual Branch Agreement

This Agreement contains the terms and conditions governing Virtual Branch. To enroll in Virtual Branch it will be necessary for you to acknowledge that you have received and read this Agreement and agree to its terms and conditions. You also acknowledge that this Agreement has been accepted by you.


You are eligible to use Virtual Branch (Internet Banking) if you have, at minimum, one open and active regular share account with a minimum balance of $5.00 with Smart Financial Credit Union. You must have an open and active share draft (checking) account to use Bill Pay. You will need a computer with access to the Internet.

Account Access

Your share and share draft accounts and loan accounts may be accessed for Internet Banking and Bill Pay services. Some accounts may have transactional limitations and all accounts are subject to our Membership and Account Agreement. Your accounts may be accessed online by using a log on and password, which you will set. Each owner, requiring separate access to Virtual Branch, must have their own unique log on and password to access the accounts on which they are an owner.

Types of Available Transactions

You may use your password to process the following requests and transactions on your account(s):

Limitation on Frequency and Dollar Amount of Transactions

Each month you are limited to six (6) transactions to transfer funds from your Share (Savings), Club or Money Market Accounts to another of your Credit Union Accounts. You may make an unlimited number of transfers between your other Accounts. You may make an unlimited number of loan payment transfers between your Accounts. There is no limit on the dollar amount you may transfer between Accounts, provided that your available balances are sufficient to cover those transfers and your Share (Savings) Account does not fall below the minimum balance required. If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold expires.

Hardware and Software Responsibilities

You are responsible for selecting all systems, hardware and your Internet service provider. You are also responsible for any defect, malfunction or interruption in service or security due to hardware failure, your choice of Internet service provider and systems and computer services.

Password and Security

As part of our enrollment process you will be required to select a password to access Virtual Branch services. Your Password has the same effect as your signature authorizing transactions. You agree to safely keep your Password, not to record your Password or otherwise disclose or make your Password available to anyone other than authorized users of your accounts. Anyone to whom you disclose your Password and anyone who has access to your Password will have full access to the services you perform with Virtual Branch, including full access to your accounts. You have no ability to limit any such person’s authority. If anyone uses your Password with your permission, you will be responsible for any transactions performed by that person.

Electronic Records and Signatures

If you opened or use your account by means of Smart Financial Credit Union’s internet site, you agree that the following information may be transmitted to you electronically if such information becomes available in an electronic format: periodic account statements, loan agreements and any other information that we are required to provide you with respect to your account.

You agree:

To withdraw consent you must submit a written request to Smart Financial Credit Union, 6051 North Course Dr. Houston, TX 77072. If your account maintenance fees are dependent upon accepting electronic records, we may change your account and impose those fees associated with that account.

Your Liability

Tell us IMMEDIATELY if you believe your Password has been lost, stolen or otherwise became available to an unauthorized person. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your accounts. If you tell us within two business days, you can lose no more than $50 if someone used your Password without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your Password, and we can prove that we could have stopped someone from using your Password without your permission, you could lose as much as $500.
Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days of the date we mail a periodic statement to you, you may not get any money you lost after the 60 days if we show that we could have stopped someone from taking the money if you would have told us in time.

Contact in the Event of Unauthorized Access

Contact the Credit Union immediately, if you believe your Password has been lost or stolen or that someone has transferred money from your account without your permission. Telephoning is the best way to keep your possible losses to a minimum. Call us at (713) 850-1600 or (800) 392-5084.

Limitation on Frequency and Dollar Amount of Transactions

Each month you are limited to six (6) transactions to transfer funds from your Share (Savings), Club or Money Market Accounts to another of your Credit Union Accounts. You may make an unlimited number of transfers between your other Accounts. You may make an unlimited number of loan payment transfers between your Accounts. There is no limit on the dollar amount you may transfer between Accounts, provided that your available balances are sufficient to cover those transfers and your Share (Savings) Account does not fall below the minimum balance required. If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold expires.

Bill Pay Service

The Smart Financial Credit Union Bill Pay service allows you to schedule bill payments through the Credit Union’s Virtual Branch (Internet Banking). You can arrange, at your option, for the payment of your current, future and reoccurring bills from your SFCU share draft account. There is no limit to the number of payments that may be authorized. We cannot process payments to federal, state, or local government agencies or courts.
By furnishing us and/or our bill paying agent with the names of your payees/merchants and their address, you authorize us and/or our bill paying agent to follow the payment instructions to these payees/merchants that you provide us and/or our bill paying agent via the Bill Pay service. When we receive a payment instruction (for a current or future date), we will remit funds from your share draft account. However, we will not be obligated to make any such payment unless your account has sufficient funds or credit available to pay the bill at that time. Funds for bill payments, (whether these payments are made electronically or by check) will be withdrawn from your account the day before the processing date you specify.

Scheduling Payments

You understand that when possible, payments will be made electronically; however due to vendor or payee’s requirements, some will be made by written and mailed check. For payments made by check, you must schedule the payment at least 5 full business days prior to the date the payment is due at your payee to allow for paper delivery in a timely manner. For payments made electronically, you must schedule your payments at least 2 full business days prior to the date the payments are due. Any payment made with Bill Pay requires sufficient time for your payee to credit your account properly. The credit union will not be responsible for costs, charges, liabilities, or other consequences arising from late payments occurring as a result of your scheduling of payments or as a result of insufficient funds in your account.

Third Party Vendor

Smart Financial Credit Union may contract with one or more vendors to assist in the completion of your payment instructions. The Credit Union reserves the right to substitute agents and will advise you how to contact the substitute agent if that becomes necessary.

Stop Payments of Electronic Funds Transfer

If you have told us in advance to make regular payments out of your account; you can stop any of these payments. You may do this online, but you will need to authorize the stop payment with your signature. Or you may call us at 1-800-392-5084 or 713-850-1600, or write us at Smart Financial Credit Union, P.O. Box 920719, Houston, Texas 77292-0719 in time for us to receive your request before the payment is scheduled to be made or the check clears your account.
If you call, we may also require that you put your request in writing and get it to us within 14 days after you call. We will charge you $25.00 for each stop payment order you place. If you order us to stop one of these payments 1 business day or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

Liability Regarding Payment

We shall not be responsible for any charges imposed or any other action taken by a payee who refuses the payment for any reason, or resulting from a payment that you have not scheduled properly; including any applicable finance charge and late fees. In addition, we will not be liable if there are insufficient funds or credit available in your designated payment account; if you provide incorrect or incomplete payee information; changes of merchant address or account number; the failure of any merchant to account correctly for the payment in a timely manner; if a legal order directs us to prohibit withdrawals from the payment account; if the payment account is closed or frozen; or if any part of the electronic funds transfer system is not working properly; or for any other circumstance beyond the control of the credit union. We will not be liable for indirect, special, or consequential damages arising out of the use of the Bill Pay service.


When you schedule a funds transfer using Virtual Branch, you authorize us to withdraw the necessary funds from your account with us. We deduct the amount of your funds transfer from your account on the date we process your instruction. Each instruction to us to withdraw or transfer from an account is an order to us to pay from that account at that time or on a later date, if any, indicated in the instruction. At our discretion we may charge payments against the account even though the charge creates an overdraft, or we may refuse to make payments if the charge creates an overdraft. If you overdraw your account, you agree to immediately pay us the overdrawn amount, together with any applicable fees.

Our Liability for Failure to Make Funds Transfers

If you have given us all of the proper and timely instructions and have properly completed all fields to complete a transfer, and we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, subject to the limitations in this Agreement, we will be liable for your losses or damages proximately caused by our failure. However, there are some exceptions. We will not be liable to you if, among other things: a)Through no fault of ours, you do not have enough money in your account to make the transfer, b)The transfer would go over the credit limit on your Line of Credit, c)Circumstances beyond our control (such as communications, electronic or computer system failure, fire or flood) prevent the transfer or use of Virtual Branch, and we have taken reasonable precautions to avoid those circumstances, d)You have not properly followed the instructions for using Virtual Branch, e)Your operating system is not properly installed or functioning properly, f)An error or failure resulted from any malfunctions of your browser, Internet service provider or computer, computer virus or other problems relating to the computer equipment you use with Virtual Branch, including, without limitation, your inability to access Virtual Branch or any part of Virtual Branch, g)The failure was the result of inaccessibility due to a Virtual Branch system failure.

Cross Account Transfers

Virtual Branch allows you to deposit funds into another member's account such as a spouse or children's accounts. However, it does not allow you to access the destination account information. These transfers are permitted to any account (unless otherwise restricted) as established within the membership account structure. The Credit Union reserves the right at any time to restrict or prohibit transfer capabilities on certain types of accounts. You must have the name and account number of the other member in order to make a transfer. You will not be able to withdraw funds from the account unless you are an authorized signer/owner of that account.

Periodic Statements

Your Virtual Branch account activity will appear on your periodic account statement. If there are no transfers in a particular month, you will receive statements at least quarterly.

System Unavailability

Access to Virtual Branch may be unavailable at times for the following reasons:

Termination of Virtual Branch Services

In the event you wish to discontinue Virtual Branch, you must notify us in writing at Smart Financial Credit Union, 6051 North Course Dr. Houston, Texas 77072 or call Member Services at (713) 850-1600 or (800) 392-5084. If you notify us verbally, you must also send us written notification within ten (10) days.
We may modify, suspend or terminate your privilege of using Virtual Branch and may withhold approval of any transaction, at any time, without prior notice to you. In the event we terminate Virtual Branch, we will try to notify you in advance but are not required to do so. You will be notified as soon as practicable.
Any one person who can use the account accessible with Virtual Branch may terminate Virtual Branch. Termination shall not affect the rights and obligations of the parties for transactions made with Virtual Branch before we have had a reasonable time to respond to your termination request. Your termination of Virtual Branch will automatically terminate any pending transfers and payments.


We may amend this Agreement at any time. Notice will be sent to you at your current address in our files. Amendments will be effective upon the date indicated in the notice.

Conflict of Provisions

This Agreement is intended to supplement and not to replace other agreements between you and us relating to your accounts, including, without limitation, our member Account Agreement and Disclosures. In the event of a conflict between this Agreement and any other account rules and agreements that apply to your accounts, this Agreement shall govern and prevail, unless otherwise specified in this Agreement.


You are liable to us for any loss, cost, or expense we incur as a result from your failure to follow this agreement. You authorize us to deduct any such loss, costs, or expense from your account without prior notice to you. If we bring legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney’s fees and costs, including fees on any appeal, bankruptcy proceedings and any post-judgment collection actions.

Governing Law

This Agreement shall be governed by the Texas Credit Union Act and Rules, the Federal Credit Union Act, and the Rules and Regulations of the National Credit Union Administration in their application to federally insured credit unions, the Credit Union’s Bylaws, and, solely to the extent not pre-empted by federal law, the laws of the State of Texas. Jurisdiction and venue lies in Harris County, Texas.


Contact us by telephone at (713) 850-1600 or toll free at 800-394-5084 or write us at Smart financial Credit Union, 6051 North Course Dr. Houston, Texas 77072 immediately, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared.
Tell Us your name and account number (if any)
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.
We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new 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. If we ask you to put your complaint or questions in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.