Debit Card Agreement

These rules govern the relationship between Ascend Federal Credit Union (Credit Union) and each person (member) issued or authorized to use the debit card (Card). We may change the terms and/or conditions of this agreement without notifying you unless required by law to do so. When you use your Card for any type of account, you are bound by the usual terms of that account. Acceptance, retention, or use of the Card by you constitutes an agreement between you and the Credit Union as follows:

Use and Ownership of Card

You have asked the Credit Union to issue you a Card, and replacements of it from time to time at our option. You have also asked that the Card be encoded and validated so that the Card may be used to purchase goods and services in Point-of-Sale (POS) transactions at places that have agreed to accept the Card. The Card remains the property of the Credit Union and shall be surrendered immediately to the Credit Union upon request. We may terminate your privilege of using the Card and may withhold approval of any transaction at any time.

Overdrafts

If use of your Card overdraws your account, you will be notified and you agree to make immediate payment to the Credit Union of the amount of any such overdrafts together with such service charges as we may impose in accordance with applicable laws and the Credit Union’s practices. You also agree to pay all costs of collection, including but not limited to, attorney fees. Whenever your account is overdrawn, we have the right to return unpaid checks or other orders on your account which are presented to the Credit Union and to assess a service fee per item as disclosed in the “Rate and Fee Addendum: Deposits.” If your account has an overdraft line of credit associated with it, the terms and conditions contained in your Credit Agreement (or other applicable agreement) will control, with respect to overdrafts of your account, regardless of whether they result from POS transactions, cash withdrawals, use of checks or any other card or device. See overdraft disclosures.

Authorization to Debit or Credit Account

Each time your Card is properly used, you authorize the Credit Union to debit or credit your account (whichever is appropriate) for the total amount shown on any sales check, withdrawal order or credit voucher originated by use of the Card, whether or not signed by you, and the Credit Union is permitted to handle such checks, orders, and vouchers in the same way it handles authorized checks drawn on your account.

Refunds on POS Transactions

Cash refunds will not be made on any POS transactions made with your Card. If the merchant involved with one of your POS transactions gives you any credit adjustment for the goods or services you purchased, the merchant will do so by sending us a credit slip which we will apply to your account. You must deal directly with the merchant on any claim or defense with respect to goods or services purchased by a POS transaction in dispute, plus any other appropriate charges we may be authorized to make. The Credit Union has no responsibility for issues arising from POS transactions.

Agreement to Comply With Rules

Your retention of, signature on, or use of the Card constitutes your agreement to comply with these rules and the additional rules as outlined in the Electronic Funds Transfer Disclosure Statement in this Guide, and any amendments thereof. This agreement and your use of the Card will be governed by the laws of the State of Tennessee and any other applicable laws.