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Electronic Fund Transfer

Regulation E – This is a disclosure required by the Electronic Fund Transfer Act and Regulation E, which are federal laws defining your rights and responsibilities as a consumer who uses electronic fund transfer services.


The Electronic Fund Transfers we process are indicated below. Some of these transfers may not apply to your account. Please read this disclosure carefully because it explains your rights and obligations for these transactions. Please keep this notice for future reference.

Automated Clearing House (ACH) Origination Service

The purpose of this notice is to clarify your responsibilities when using ACH Origination Services and to define Missouri Credit Union’s (MCU) authority.

You are responsible for having enough money in your account on the origination date. ACH Originations are processed on MCU Business Days—Monday through Friday, excluding Federal Holidays. If the scheduled date of your debit occurs on a non-business day, MCU may complete it on the business day prior to your scheduled date.

If your ACH transaction is returned for any non-payment reason, you will be responsible for all fees charged. MCU may cancel your authorization if payments are returned for non-payment.

If you have any questions or concerns, please call us at (573) 874-1477 – Columbia, (573) 635-8007 – Jefferson City, or Toll-Free at (800) 451-1477.


Preauthorized Withdrawals – You may make arrangements to pay certain recurring bills or debts owed from your Checking or Savings account(s). If you pay with a check or debit you may be authorizing your check or draft to be converted to an electronic fund transfer. You may also be authorizing merchants to electronically debit your account for returned check fees. You are considered to have authorized the electronic fund transfer if you complete the transaction after being told (orally or by a notice posted or sent to you) that the transfer may be processed electronically or if you sign a written authorization.

Direct Deposit/Payroll Deductions – You may make arrangements for certain direct deposits (such as educational, medical, or federal employer’s payroll) to be credited to your Checking, Savings, Money Market, or Loan account(s).

Remember, you are limited by Federal Regulations to six (6) withdrawals or debits in one calendar month from any Savings or Money Market account.

MCU@Home transactions – You may access your account on-line using a desktop, tablet, or mobile phone by entering your username in the MCU@Home login box at the top of our website.

Once you are connected, you enter your password to:

  • Obtain account balances and account history (including copies of cleared checks);
  • Transfer funds between your accounts;
  • Transfer funds to another member;
  • Transfer funds in and out of Missouri Credit Union;
  • Perform self-service account maintenance such as re-ordering checks, requesting a check from your account, stopping payment on a check or changing address and phone number; and
  • Send us secure online messages.

Transactions initiated using your password will be honored by Missouri Credit Union (MCU), including Bill Payer authorization to provide information about your account to third parties, including payees, as necessary to complete your authorized transactions or resolve disputes.

Additional fees may be charged, as applicable, as disclosed in the “Terms and Conditions of Your Account” disclosure. Also, see additional terms and conditions in the MCU@Home disclosure. Please notify MCU if you would like a copy of this, or any other disclosure.

MCU Debit Card transactions, dollar limitations, and charges – You may access your account(s) by MCU ATM for FREE by using your MCU Debit Card and PIN to:

  • Make deposits to checking or savings;
  • Get the account balance of your savings or checking;
  • Transfer funds between your checking and savings account;
  • Get cash withdrawals from checking or savings; and
  • You may withdraw no greater than $500.00 per calendar day.

There is a charge of $1.50 per withdrawal and a charge of $0.50 per inquiry at ATMs we do not own or operate. Some financial institutions will charge an extra fee (surcharge) for withdrawals and the amount varies based on the decision of the financial institution that owns or operates that ATM.

Some of the above services may not be available at all ATMs.

MCU VISA Debit Card – You may access your checking account to purchase goods (in person) with MCU VISA Debit Card.

MCU VISA Debit Card – Charges – Using your MCU VISA Debit Card:

  • There are no per transaction charges for using MCU VISA Debit Card;
  • There is a $5.00 maximum fee to replace your MCU VISA Debit Card; and
  • There may be a $27.00 fee for any recurring MCU VISA Debit Card transactions that overdraw any MCU account.

Electronic Fund Transfer Charges

We do not charge for electronic deposits to any type of MCU account.

We do not charge for preauthorized withdrawals from any type of MCU account, except as indicated elsewhere.

Except as indicated elsewhere, we do not charge for an electronic fund transfer.

Please see the “Terms and Conditions of your Account” disclosure, for a listing of current charges and fees.

Documentation Rights

ATM Withdrawals/Transfers and Check Card Debits — You may receive a receipt at the time you make any withdrawal or transfer to or from your accounts using one of our ATMs, or at the time you make a debit from your account using any point-of sale terminals at merchants where you use your MCU VISA Debit Card.

Direct Deposits — If you have arranged to have a portion or all of your paycheck credited to your account at least once every 60 days from the same person or company, the person or company making the deposit will inform you each time they send us the money.

You can also call MCU at (573) 874-1477 (Columbia), (573) 635-8007 (Jefferson City) or (800) 451-1477 (outside of Columbia or Jefferson City only); or go to MCU@Home online banking at missouricu.org to find out the dollar amount and the date it was automatically deposited to your account.

Periodic Statements — You will receive a monthly account statement from us for your Checking Accounts. The monthly statement will include the other deposit and loan products you now have with us. If the only product you have with us is a Savings Account, you will receive a monthly statement when there are electronic fund transfers applicable to the Savings account in that particular month. Otherwise, you will receive an account statement at least quarterly.

Stop Payment Procedures and Notice of Varying Amounts

Stop Payment Procedures and Rights — If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:

Call or write us at the phone number or address listed below in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing with your signature and return it to us within 14 days after you call.

We will charge you $27.00 for each stop payment order you request.

Notice of Varying Amounts — When a preauthorized electronic fund transfer from your account will vary in amount from the previous transfer under the same authorization or from the preauthorized amount, the designated payee or the financial institution shall send you written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer.

Liability for Failure to Stop Payment of Preauthorized Transfer — If you notify us in writing to stop payment three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your reasonable losses or damages.

Credit Union Liability

Liability for failure to Complete Transfers or Debits — If we do not complete a debit from your account or a transfer to or from your accounts on time or in the correct amount according to our written agreement with you, we will be liable for your reasonable losses or damages. However, there are some exceptions. We will NOT be liable, for instance:

  • If, through no fault of ours, you do not have enough money in your account to complete the transfer or debit;
  • If the transfer or debit would go over the credit limit on your overdraft line of credit loan;
  • If the ATM where you make the transfer or debit does not have enough cash;
  • If the ATM or merchant’s system was not working and you knew about the breakdown when you started the transfer or debit;
  • If any conditions beyond our control (such as fire or flood) prevent the transfer or debit, despite reasonable precautions we have taken; and
  • There may be other exceptions stated in our agreement with you.

Third Party Disclosure of Account Information

We will disclose information to third parties about your account or the transfers you make:

  • When it is necessary for completing transfers;
  • In order to verify existence and condition of your account for a third party, such as credit bureau or merchant unless restricted by other applicable laws;
  • In order to comply with government or state agency or court orders; and
  • If you give us written permission, with your signature.

Unauthorized Transfers/Transactions

Notify us AT ONCE if you believe your card and/or PIN has been lost or stolen. Phoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit). If you notify us within two business days, you can lose no more than $50 if someone used your card without permission.

If you do not notify us within two business days after you learn of the loss or theft of your card and/or PIN, and we can prove we could have prevented someone from using your card and/or PIN without your permission if you had notified us, you can lose as much as $500.

Also, if your statement shows transfers or debits that you did not make, notify us at once. If you do not notify us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have prevented someone from taking the money if you had notified us in time.

If you determine your card and/or PIN has been lost or stolen or that someone has transferred or may transfer or debit money from your account without your permission, call or write us at the phone number or address listed below.

Error Resolution

In case of errors or questions about your electronic transfers or your statement, call or write us at the phone number or address listed in this document as soon as you can, if you determine your statement or receipt is wrong or if you need more information about a transfer or debit listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which you determined the problem or error appeared.

  • Notify us of your name and account number;
  • Describe the error or the transfer or debit you are unsure about, and explain as clearly as you can why you determined it is an error or why you need more information;
  • Notify us of the dollar amount of the suspected error; and
  • If you notify us orally, we may require that you send us your complaint or question in writing with your signature within 10 business days.

We will notify you of the results of our investigation within 10 business days (20 business days for a new account open less than 30 days) after we hear from you and will correct any error promptly. If we determine we need more time, however, we may take up to 45 days (90 days, if the transfer or debit involved a point-of-sale transaction, a foreign initiated transfer, or for a new account open less than 30 days) to investigate your complaint or question. If we decide to do this we will recredit your account within 10 business days (20 business days for a new account open less than 30 days) for the amount you determined is in error, so that you will have 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 with your signature and we do not receive it within 10 business days, we may not recredit your account.

If we decide that there was no error, we will notify you with a written explanation within three business days after we finish our investigation. You may request copies of the documents we used in our investigation.

Business Days: Monday through Friday, excluding Federal Holidays

Electronic “Wholesale Credit” Transactions

Subject to Uniform Commercial code Article 4A

Provisional Payment — Credit given by us to you with respect to an Automated Clearing House (“ACH”) credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.

Notice of Receipt of Entry — Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you.

Choice of Law — We may accept on your behalf payments to your account which have been transmitted through one or more ACH and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be constructed in accordance with and governed by the laws of the state of Missouri, unless it has been otherwise specified in a separate agreement that the law of some other state shall govern.

Our contact information:
PO BOX 1795
COLUMBIA MO 65205-1795
Phone: (573) 817-1477 (Columbia) or
(573) 635-8007 (Jefferson City) or
(800) 451-1477 Toll-free (Outside of Columbia and Jefferson City only).


Revised on April 15, 2019