Legal information

This Account Agreement applies to anyone who has signed a Membership Application and opened an account, even if, for some reason, the Membership Application has not been effectively signed by every person who was intended to sign it. This Account Agreement is binding on me and on my estate even if I should die, lose mental capacity or become bankrupt. This Account Agreement applies to all accounts opened by you for me, unless you have opened an account for me under a different Account Agreement and then such other Account Agreement will apply to the accounts opened under it. The types of account to which this Member Account Agreement applies includes RRSP, RRIF, TFSA, savings, and any other types of account that you might offer.

If two or more people signed an application to open an account, the account with be joint with right of survivorship. All obligations under this Account Agreement will be joint obligations, including the obligation to pay any overdrafts and the obligation to pay interest, fees and charges.

You agree to provide to me a periodic electronic statement that sets out all transactions affecting my account, including registered accounts such as RRSP, RRIF and TFSA as applicable. I agree to review and verify transactions posted on my account Online or Telephone Banking made available to me by you. I agree that you may provide me with a statement at such intervals as you may determine and that you will provide it electronically via Online Banking. If I have not received a statement for a particular period, I acknowledge that I should ask you to produce a statement; otherwise you will not be responsible to me for any errors. You will not be liable to me for any errors, omissions or unauthorized transactions, charges or debits to my account unless I bring these to your attention within 30 days of when I received or should normally have received my statement.

I agree to pay the usual charges and fees set by you, including any costs incurred in providing information about my accounts to me or to those who are authorized by this agreement, by law or by me, to request information; and I agree that you may debit my account for such charges and fees. You will make a list of your usual charges and fees available to me, but I agree that you may change the amounts of your charges and fees without actual notice to me. 

Overdrafts are not allowed on my Outlook Financial accounts, and I agree that, should I issue any payment order that would result in the Account being overdrawn, I will be responsible for repayment of the overdrawn amount in full. I further agree that you may debit one account(except my registered accounts) to cover an overdraft amount in another account and that you may charge an appropriate fee for overdrawn amounts in compliance with your overdraft policies.

If for any reason including actions by me, a joint account holder or by Outlook Financial there is an overdraft created in my account, that overdraft will be deemed a loan to me which will be due on demand, and will be subject to interest at Outlook Financial’s prevailing interest rate for overdrafts, from the date of overdraft until the date of payment. Outlook Financial reserves the right to use all or any funds on deposit, except RRSP/RRIF/TFSA deposits, to pay any debt or obligations I owe you. 

I understand that you only accept Canadian funds drawn on a Canadian financial institution. You may accept payment orders on deposit to my account or on collection and you may use the services of another financial institution or other agent as you think best to present a payment order for payment, acceptance or collection. I waive, as far as possible, all requirements of any legislation governing payment orders and agree that I will not hold you responsible if any payment order payable to or endorsed to me is not honoured.

I will indemnify you against all claims made against you or liability incurred by you in connection with any payment order deposited to my credit, including payment orders that have forged or unauthorized signatures or endorsements and those that have been contradicted. I also agree to pay to you, and I agree that you may debit my account with the amount of any payment orders that I or others may deposit to my account or that I may cash (if your policies allow me to cash payment orders) and that are not honoured or paid to you. 

You may debit my account the amount of any payment order communicated to you by any means unless you have reason to believe that the payment order is not proper or unless I have contradicted that order by verifiable means. You are not obliged to certify any payment order made by me. If you do not honour a payment order because you do not believe it to be proper, I agree that you will not be responsible for any damage resulting to me. If I have more than one account, you may debit any one of them, even if the payment order refers to a particular account.

I will be responsible for the accuracy and validity of any pre-authorized debits (PADs) from my account unless I report any errors within 90 calendar days.

You may close any account without notice to me without affecting any other accounts operated under this Account Agreement, and I agree that any outstanding charges against that account may be debited to another account. Either you or I may, on written notice, close the account.

The provisions of this Account Agreement as they relate to joint accounts (including the application of monies from one account against debits in another and closing accounts) do not apply to any RRSP, RRIF or TFSA that I may open with you. I agree that each RRSP, RRIF or TFSA will be the subject of a separate agreement between us and that such separate RRSP, RRIF or TFSA agreements will apply in the event of a conflict between it and this Account Agreement.

I agree that I may, from time to time, authorize you to accept a mechanical, computer generated or digital version of my signature, including automated teller machines (ATMs), Telephone Banking, and Online Banking. If I have authorized you to accept a mechanical, computer generated or digital version of my signature, you are entitled to accept instructions that contain such versions of my signature and to rely on them as having been authorized by me, until you receive actual notice from me that I have cancelled that authority.

I agree as well that my use of any card, personal access code, password or personal identification number issued to or chosen by me in connection with my account is at my sole risk and responsibility. You will not be responsible for any unauthorized use of any card, personal access code, password or personal identification number or any loss that I may suffer because of unauthorized use until I have actually communicated to you that such use is unauthorized. I am fully responsible for maintaining the security of all cards, personal access codes, passwords and personal identification numbers issued to or chosen by me in connection with my account. 

In some cases, you may advise me that faxes or emails to Outlook Financial are acceptable. I authorize you to accept such signed instructions or documents without any further verification, and I agree to be responsible for these instructions. I agree that what, in your sole determination based on your records, appears as my signature on such instructions or documents binds me legally and makes me responsible to the same extent and effect as if I had given original, signed, written instructions or documents to you. You will advise me as to what kind of instructions and documents are acceptable by fax or email.

You may verify faxed or emailed or the source of the communication before accepting them, but you are not obligated to do so.

In addition to communication by voice and mail, I authorize Outlook Financial to communicate with me by fax, online notices or email to my personal communication devices at such numbers or addresses as I provide to you. communication 

I agree to use Outlook Financial’s Internet banking services only for the purpose of obtaining such services as are agreed upon between me and Outlook Financial. I may request Bill Payment and authorize Credit Union Payment Services (CUPS) to debit payments authorized by me from the accounts specified by me. I will use a Personal Access Code (PAC) to make payments, which I will keep confidential and under no circumstances will I disclose my PAC to any other person.

Notice of cancellation of this authorization may be made to me at any time. Such notice may have effect on debits made prior to cancellation.

I understand that only the Online Banking site is a secure site. On other parts of the Outlook Financial website (including email), the confidentiality and security of information transmitted over the Internet cannot be ensured and you will not be responsible for any damages I may incur if I communicate confidential information to you over the Internet or if you communicate such information to me. 

I agree to use Telephone Banking only for the purpose of obtaining such services as are agreed upon between me and Outlook Financial. I may request Bill Payment and authorize Credit Union Payment Services (CUPS) to debit payments authorized by me from the accounts specified by me. I will use a Personal Access Code (PAC) to make payments, which I will keep confidential and under no circumstances will I disclose my PAC to any other person.

Notice of cancellation of this authorization may be made to me at any time. Such notice may have effect on debits made prior to cancellation. 

Nothing in this Member Account Agreement alters any provision of The Credit Unions and Caisses Populaires Act or any regulation under that Act. The laws of Manitoba apply to this Account Agreement and to any disputes relating to it. 

Either you or I can give notice to the other in writing or by such electronic or digital means as may be convenient. If electronic or digital means are used, both you and I must have access to such means of communication and the communication must be transmitted and received in a way that is reliable and can be confirmed. 

I will use the debit card only for the purpose of obtaining such services as are agreed upon between me and my credit union, Assiniboine Credit Union on behalf of Outlook Financial. On 30 days written notice, my credit union may add to or delete from the types of use that are permitted, and the issuance of the debit card does not amount to a representation or a warranty that any particular type of service is available or shall be available at any time in the future.

This agreement, and the fact that I have the use of the debit card, does not give me any credit privileges or any entitlement to overdraw my account, except as provided by separate agreement with my credit union. 

I will not select an obvious combination of digits for my PIN (e.g., address, telephone number, birth date or Social Insurance Number). I understand that my credit union has only disclosed the PIN to me and to no one else, and I will never, under any circumstances, disclose the PIN to any other person. I will not keep a written record of the PIN, unless the written record is not carried next to the debit card and is in a form indecipherable to others. I will always screen the entry of the PIN with my hand or body. 

Unless I have made other arrangements with my credit union, amounts credited to my account as a result of deposits using the debit card will not be available for withdrawal until the deposits are verified and negotiable items such as cheques are honoured. Such a hold may be required to guarantee that all items included in a deposit have been cleared by the institution drawn on prior to any withdrawals of the funds being deposited. Withdrawals or transfers affected by the use of the debit card will be debited to my account at the time they are made.

I will not deposit any foreign funds, coins, non-negotiable items or anything not acceptable for deposit to my account into any automated teller machine, and will pay to my credit union any damages, costs or losses suffered by my credit union as a result of any such deposit. 

Once I have requested and first used the debit card service, I will be liable for all authorized and unauthorized uses of the debit card by any person up to my established withdrawal limit, prior to the expiry or cancellation of the debit card. However, in the event of alteration of my account balance due to technical problems, card issuer errors and system malfunctions, I will be liable only to the extent of any benefit I have received, and will be entitled to recover from the credit union any direct losses I may have suffered.

My credit union will have the discretion to relieve me from liability for unauthorized use of my debit card either through no fault of my own or in a case where I have inadvertently contributed to the unauthorized use of my debit card, and I will cooperate in an investigation. My credit union will not be liable to me for any action or failure to act of a Merchant or refusal by a Merchant to honour the debit card, whether or not such failure or refusal is the result of any error or malfunction of a device used to effect or authorize the use of the debit card for a point-of-sale transaction. I understand that I must not use my debit card and PIN for any unlawful purpose, including the purchase of goods and services prohibited by local law applicable in my jurisdiction. 

If I become aware that my debit card is lost or stolen, or that the PIN has been made accessible to another person, I will notify my credit union or its agent immediately, whereupon my credit union will cancel the debit card. The instant such notice is actually received or when my credit union is satisfied that I became the victim of fraud, theft, or coercion by trickery, force or intimidation, my liability for further use of the debit card will terminate, and I will be entitled to recover from my credit union any further losses suffered by me through the use of the debit card. 

In the event of a problem with a debit card transaction, or unauthorized debit card transaction, other than a matter related to goods or services provided by Merchants, I will report the issue promptly to my credit union and the credit union will investigate and respond to the issue on a timely basis.

You will not unreasonably restrict me from the use of any funds subject to dispute, provided that it is reasonably evident that I did not contribute to the problem or unauthorized transaction.

You will respond to my report of a problem or unauthorized transaction within 10 business days and will indicate what reimbursement, if any, will be made for any loss incurred by me. Reimbursement will be made for losses from a problem or unauthorized use in this timeframe provided that on the balance of probabilities it is shown that I did not contribute knowingly to the problem or unauthorized transaction and that I took reasonable steps to protect the confidentiality of my PIN. An extension of the 10-day limit may be necessary if my credit union requires me to provide a written statement or affidavit to aid its investigation. 

If I am not satisfied with my credit union’s response, my credit union will provide me, upon request, with a written account of its investigation and the reasons for its findings. If I am not satisfied, the issue will be referred to either a credit union system dispute-resolution service or external mediator, as agreed between me and my credit union. Neither my credit union nor I will have the right to start court action until 30 days have passed since the issue was first raised with my credit union. Any dispute related to goods or services supplied in a point-of-sale transaction is strictly between me and the Merchant, and I will raise no defense or claim against my credit union. 

I acknowledge having been advised of, and will pay, the applicable fees now in effect for services available under this agreement. New or amended fees will only become effective 30 days after publication by my credit union. 

If the debit card is used in connection with a transaction in foreign currency, I understand that the rate of conversion into Canadian currency will be fixed according to the rules of the electronic network through which the transaction is conducted.

I understand that you only accept Canadian funds drawn on a Canadian financial institution, and I will not deposit foreign funds, including US dollars, into my Outlook account. 

A paper Transaction Record dispensed mechanically as a result of the use of the debit card constitutes a record of my instructions. Whether such a Transaction Record is issued or not, it is my responsibility to verify that the transaction has been properly executed by checking the periodic statement which itemizes transactions. In the absence of evidence to the contrary, the records of my credit union are conclusive for all purposes, including litigation, in respect of any instructions given by me to my credit union through the use of the debit card; the contents of any envelope deposited by me into an automated teller machine; the making of a withdrawal, deposit or transfer through the use of the debit card; and any other matter or thing relating to the state of accounts between me and my credit union in respect of any electronic transaction. 

This agreement replaces any prior agreement governing the use of the debit card and the PIN, but does not replace or supersede any agreement or provision of any agreement relating to the operation of any account. This agreement applies to any account specified in my Debit Card Agreement and, as well, to any other account designated by me from time-to-time for use in connection with the debit card. 

My credit union remains the owner of the debit card. It may restrict the use of the debit card, or may terminate this agreement and my right to use the debit card, at any time without notice. I will return the debit card to my credit union upon request. 

I understand that the credit union system, in concert with the banking industry, has endorsed the voluntary Canadian Code of Practice for Consumer Debit Card Services, a copy of which is available from my credit union on request, and credit unions will be guided by the principles of the Code in administering the operation of debit card matters. 

Code of Conduct for the Credit and Debit Card Industry in Canada 

This agreement is intended to be interpreted in accordance with its plain English meaning. Except where otherwise indicated, capitalized terms are used in accordance with the definitions set out in the Canadian Code of Practice for Consumer Debit Card Services. For the purposes of this agreement, point-of-sale transaction means the use of the debit card to conduct a contact transaction with its associated PIN or a contactless transaction without the card’s associated PIN for such purposes as may be permitted from time-to-time by my credit union, including: (a) the transfer of funds from my account to purchase or lease goods or services from a seller, leaser or service provider (a Merchant); (b) the transfer of funds from my account to obtain a voucher, chit, scrip, token or other thing that may be exchanged for goods, services or money, or (c) the transfer of funds into my account from an account of a Merchant (e.g., a refund). 

I acknowledge the receipt of this agreement and that this agreement does not require signature by my credit union. I acknowledge that this agreement may be amended by my credit union upon 30 days notice, and until the agreement is terminated, the use or continued use of the card by me shall be deemed to be the acceptance by me of any amendments to this agreement. I acknowledge that notice will be given to me in writing either by mail to my most recent address as shown on the Credit Union’s records, by the Credit Union posting notice at its premises or on its website, by personal delivery, or by any other means the Credit Union, acting responsibly, considers appropriate to bring the change to my attention. I also agree to keep a copy of this agreement for my records.