The European Union (Payment Services) Regulations 2018 (the “Regulations)

Regulation 76

This is your ‘Framework Contract’ with us in relation to the particular payment account

Clonakilty & Dunmanway Limited is regulated by the Central Bank of Ireland.

Contact details for the Central Bank of Ireland are:

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

Telephone: +353 1 224 6000

Fax: +353 1 671 5550

Website: www.centralbank.ie

CONTACT DETAILS FOR Clonakilty & Dunmanway Credit Union Ltd

Address:

Clonakilty office: Credit Union Centre, Kent Street, Clonakilty, Co Cork

Dunmanway Office- Main Street, Dunmanway, Co Cork

Telephone:

Clonakilty Branch: 023 8833842

Dunmanway Branch: 023 8845787

Email: info@cdcreditunion.ie

Website: www.cdcreditunion.ie

Register Number: C13935 (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.

YOUR ACCOUNT

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

• Lodging and withdrawing funds
• Transferring of funds internally to and from your other balances and accounts
• Acceptance of funds transferred into a members account by standing order, direct debit, payroll deduction, Electronic Fund Transfer
• Transferring of funds out of the members account on foot of a direct debit, EFT, standing order.
• Payment of Bill or Utility from a members account
• Transacting business online or via our mobile app.

1. Giving an order for payment from your account:

When you give us an order to make a payment from your account, we will need you to provide us with the details of the beneficiary of the payment (i.e. their account number and sort code, together with any relevant identification details for the payment service provider (‘PSP’) with which they hold their account). We will need you to verify that order by signature. This is known as the ‘identifier’. In giving us that unique identifier, you will be consenting to our execution of that order for you. You cannot withdraw that consent after you have given it to us.

2. Cut-off Times

When we are given an order in relation to a payment on your account, we must be given that order before 3.00pm (11am on Saturday) on one of our Business Days. If we are given that order after that time, we will be deemed to have received that order on our next following Business Day. If we agree with you that an order is to be executed on a particular Business Day, then we will be deemed to have received that order on that particular Business Day.

3. Execution Times

Once we are deemed to have received an order under section 2 above, you agree that we have up to the end of the third Business Day following the date of deemed receipt under section 2 above to credit the amount of that order to the beneficiary’s PSP. We confirm that we have up to the end of the first Business Day following the date of deemed receipt under section 2 above to so credit that amount. If the order is initiated by paper, in both cases, we will have an extra Business Day to do this.

4. Payment Instruments

If we give you a payment instrument on your account (i.e., use of online banking with a password) you must, as soon as you receive it, take all reasonable steps to keep personalized security credentials safe. If the payment instrument is lost, stolen, misappropriated, or used in an unauthorized manner, you should notify us immediately by phone on +353 (0) 23 8833842/8845787. We reserve the right to block your use of a payment instrument for any of the following reasons:

1. the security of the payment instrument;
2. if we suspect that it is, or has been, used in an unauthorized or fraudulent manner;
3. (if the payment instrument is connected with the provision by us of credit to you) a significantly increased risk that you may be unable to fulfill your obligations to pay;
4. our legal or regulatory obligations, including our national or European Union obligations.

If we block your use of a payment instrument, we will tell you about it (and the reasons for it) unless giving you that information would compromise our security or would be prohibited by law. You may request that we unblock the payment instrument, and we will do so or replace the payment instrument once the reason for blocking no longer exists.

5. Charges

We do not levy any charges in connection with the accounts that we offer.

6. Interest Rates

We do not levy any interest rate on any savings accounts that we offer.

7. Exchange Rates

No exchange rates will apply on your account as all payments from your account (including withdrawals by you from your account) will be in Euro and will not involve a currency conversion being made by us.

8. Giving You Information

If we need to communicate with you to give you information or notice of any matters relating to this Framework Contract, we will do so in writing, SMS, or secure mail or by placing a notice in writing in our main office and on our website unless we state otherwise herein. Such information or notice will be given to you promptly upon the requirement to do so arising. You may request that we provide or make available to you certain information (prescribed by law) relating to individual payment transactions executed on your account at least once a month and free of charge, in a manner that allows you to store and reproduce the information unchanged.

9. Copy Framework Contract

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 Framework Contract on paper or, if possible, by secure email.

10. Unauthorised Transactions

If you become aware of a transaction on your account that is unauthorised or incorrectly executed, or if your payment instrument is lost, stolen, or misappropriated, you must tell us without undue delay and, in any event, within thirteen months of such a 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 and, 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 €50, if the unauthorized transaction resulted from the use of a lost, stolen, or misappropriated payment instrument unless (i) the loss, theft, or misappropriation was not detectable to you prior to the payment and you have not acted fraudulently, or (ii) the loss was caused by actions or lack of action by us or any of our employees, agents, or third parties acting on our behalf.
2. You will bear all losses relating to an unauthorized transaction on your account if you incurred those losses by acting fraudulently or by failing, intentionally or with gross negligence, or if you failed to take all reasonable steps to keep the payment instrument and personalized security credentials safe, to use the payment instrument in accordance with any terms that we tell you are applicable to it, and to notify us without delay of it being lost, stolen, misappropriated, or used in an unauthorised manner;
3. So long as you have not acted fraudulently 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 Framework Contract that it has been lost, stolen, or misappropriated.
4. If we have not required strong customer authentication, in accordance with applicable legal or regulatory standards, you will not bear any financial losses unless you have acted fraudulently.

11. Unique Identifier

If you give us an order to make a payment from your account and we execute it in accordance with the correct unique identifier, we will be taken to have executed it correctly as regards the beneficiary of that order. If you give us an incorrect unique identifier, we will not be liable for the non-execution, or defective execution, of the order. We will, however, make reasonable efforts to recover

12. Our Liability if You Make a Payment out of Your Account

If you give us an 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. If we refuse to execute a payment transaction, we will provide the reasons to you and the procedure for correcting any factual mistakes that may have led to the refusal unless prohibited by law or regulatory requirements.

13. Our Liability if You Receive a Payment into Your Account

If the payer’s PSP can prove that we received the payment for you, then we will be liable to you. If we are liable to you, we will immediately place the amount of the transaction at your disposal and credit the amount to your account. If we are not liable as set out above, the payer’s PSP will be liable to the payer for the transaction. Regardless of whether we are liable or not, we will immediately try to trace the transaction and notify you of the outcome.

14. Duration, Changes, and Termination

Your contract with us, as detailed in this Framework Contract, is of indefinite duration. If we want to change any part of the information provided herein which is required by Regulation 76, we will give you at least two months’ written notice of the proposed change where required by law to do so. 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 Framework Contract relates 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 favorable to you, we have the right to apply that change immediately and write to you soon afterward confirming that change. We can change an exchange rate immediately and without notice if that change is based upon the reference exchange rate agreed in this Framework Contract. You may terminate your contract with us in relation to the account to which this Framework Contract relates on one month’s notice in writing. We may terminate our contract with you in relation to the account to which this Framework Contract relates on giving you two months’ notice in writing.

15. Governing Law and Language

This Framework Contract 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.

16. Redress

If you have a complaint in relation to the matters governed by this Framework Contract you can write to us, and we will deal with your complaint in accordance with our obligations under the Regulations. If you are not satisfied with the outcome of this internal process, you may refer your complaint to the Financial Services Ombudsman. Contact details are as follows: Financial Services Ombudsman Bureau,

17. Data Protection

In order for us to maintain this account and/or carry out transactions on this account, it is necessary for us to access, process, and retain personal data deemed necessary for the provision of these payment services. All data are processed in line with data protection legislation.