Terms and conditions
Online Banking | Data Protection | Insurance | Membership | Current Account | Dormant accounts
These Terms and Conditions explain your rights and responsibilities and those of the Credit Union in respect of your use of the Credit Union’s Internet Banking Service ("the Service"). These Terms and Conditions are in addition to those, together with any advice, provided by the Credit Union on your computer screen ("On-Screen Terms") when using the Service and those already provided to you as an account holder with the Credit Union but, in the event of any uncertainty with regard to your use of the Service, the following Terms and Conditions together with the On-Screen Terms shall prevail.
Please read the Terms and Conditions carefully, they apply in respect of all use of and transactions undertaken by you via the Service.
Please note the Credit Union’s standard Account Tariff setting out interest rates and charges continues to apply, a copy of which is displayed on the Credit Union’s web site together with these Terms and Conditions.
1. Definitions 'Credit Union' means Clockwise Credit Union 'Business Day' means any day except Saturday, Sunday and Bank Holidays in England & Wales. 'Member' means you, the person or persons in whose name(s) the Account(s) is/are maintained by the Credit Union. ‘Member Security Codes' means your Password and Pin Number which you provided to the Credit Union when joining. 'Account' means any account or accounts held by the Credit Union in the name of the Member on which the Service is available. 'Service' means the Service made available to members by the Credit Union from time to time via the Internet. '
2. The Credit Union is authorised by you to accept and act upon electronic instructions provided via the Service and to debit or credit the Account with the amount of all Service transactions without any further authority. You accept liability for all debits made. The Bank will only accept instructions if your Member Security Codes are used as requested and accepted. Any failure or error in relation to use of your Member Security Codes will result in access to the Service being blocked. If this happens you must contact the Clockwise Credit Union office on Telephone: 0116 2423900.
3i.Please take all reasonable precautions to prevent the disclosure and unauthorised use of your Member Security Codes: - Never write them down - Never tell them to anyone If you suspect that someone knows your Member Security Codes, please notify the Credit Union immediately. When we receive notification, your liability will cease. Until then, you may be liable for up to £50 of any loss. If unauthorised use of your Customer Security Codes is due to your negligence, fraud, disclosure or misuse, you will probably be liable for all losses. The Credit Union may ask you to assist us in our efforts to recover any loss as a result of unauthorised use of your Member Security Codes.
ii. When you use your Member Security Codes you are authorising us to carry out all your instructions.
iii. For your protection, the reserves the right to suspend access if: - Incorrect Member Security Codes are used to attempt to access your Account - the Credit Union suspects an unauthorised person is attempting to access your Account
iv. The services (including the Service) available to members using Member Security Codes may vary over time, the Credit Union may add to, vary, suspend or terminate any of the services available but will inform you of any changes.
v. You will exit the Service when leaving your computer terminal unattended.
4. You must ensure all instructions given to the Credit Union via the Service are accurate. The processing by the Credit Union of your instructions via the Service will be binding upon you. Instructions received on any Business Day will be processed within one Business Day. Instructions received at any other time will be processed the next Business Day.
5. Transactions via the Service remain subject to your Account terms and conditions as well as these terms and conditions.
6. The Clockwise Credit Union uses permanent and temporary cookies.
The website uses permanent cookies to :
Identify the link you used to find our site
Check which browser you use so that we can make sure our site and services work well on your computer
Monitor traffic on our website
The Clockwise Credit Union internet banking service uses temporary cookies to:
Form part of our security process, by identifying your computer by our online account management service.
Temporary cookies are removed when you close down your browser.
Our policy on cookies is that we do not pass on, or sell, details to any other company.
So that you can manage your account through our website, you will need to make sure that your browser has cookies enabled.
7. Notification of lost or stolen cards must be made by telephoning the Clockwise Credit Union head office on Telephone 0116 2423900. If any card is lost or stolen or used by someone else without your permission then you may have to pay up to £50 towards the Credit Union losses. If they are used due to your gross negligence or with your permission, you will probably be liable for ALL losses. You will not be liable for losses to us which take place after you have told us about the loss, theft etc. provided you write to the Credit Union within 7 days to confirm. You are liable for a fixed fee for replacement of ATM or Debit card. You will be able to access your available funds at Clockwise by giving a minimum 2 hours notice and the notice being accepted by Clockwise. You are liable for a fixed fee for withdrawals made over the counter. Cash withdrawal without an ATM or Debit card is only available at head office and branch office.
8. The Credit Union reserves the right to terminate the Service or to vary these terms and conditions. Any termination or variation will only take place after the Credit Union has notified you by any reasonable means the Credit Union considers appropriate, unless the Credit Union suspects fraud where access to the Service can be terminated immediately without notice.
9. You may terminate this agreement by notifying the Credit Union in writing. The notification will not be effective until the Credit Union has received it. Upon termination access to the Service will cease.
10. The Credit Union may from time to time record telephone calls between you and us. Any such calls are recorded for security and training purposes only. The Credit Union may from time to time record instructions received via the Service again for security and training purposes, or to improve the Service.
11. The Credit Union reserves the right to charge you and you agree to pay the charges for the Service. Any charges for the Service will be set out on the Credit Union web site and are also available by telephoning the head office on 0116 2423900 or by referring to the Credit Union’s standard tariff. If any changes are made, notice of the new charges will be notified to you before they take effect and will also be available on the Credit Union’s web site.
The following is a condensed version of how we will store and use your personal data when opening an account with us. Please refer to the bottom of this document for further information including how to obtain our full terms and conditions and contact information.
Clockwise Credit Union Ltd will process your data in accordance with your rights under the Data Protection Act 1998 or as amended by subsequent legislation.
Your information will be held and processed by Clockwise in any form and on any database used by us for the following purposes:
To consider any application(s);
To help us make credit decisions about you and anyone to whom you are linked financially or other members of your household.
To deal with and process your account(s) or any other services we provide to you;
To undertake statistical analysis, financial risk assessment, money laundering checks (which may include telephoning you), compliance and regulatory reporting, fraud prevention and debt tracing.
To help us identify products and services which may be of interest to you (unless you have asked us not to)
We may share your information in one or more of the following ways:
To our agents or subcontractors for operational reasons or contractor where we act as a Data Processor To any person, including, but not limited to insurers, who provide a service or benefit to you or for us in connection with your account(s);
To a licensed credit reference agency in accordance with the Data Protection Act and Consumer Credit Act.
To fraud prevention and other agencies to prevent crime or where we suspect fraud;
If compelled to do so by law;
For the purpose of compliance and regulatory reporting and to confirm your identity for money laundering purposes, which may include checking the electoral register;
Credit Referencing & Fraud Prevention Agencies
When you apply for a Clockwise product or service we may conduct searches about you with fraud prevention agencies and credit reference agencies who will supply us with credit information both from the public electoral register and shared credit and fraud prevention information.
The agencies will record details of any search regardless whether or not your application proceeds. This search record is known as a footprint and may be seen by other lenders.
We will conduct checks such as assessing your application for credit and may make use of credit scoring methods to assist and verify your identity. If you make a joint application or tell us about your spouse or financial associate, we will link your records together so you must be sure to have their agreement to disclose information about them. Credit reference agencies also link your records together and these links will remain on your file until such time as you or your partner successfully files for a disassociation with the credit reference agency to break the link.
Information on applications will be sent to the credit reference agency and will be recorded by them. In addition when you borrow from us we will periodically provide details of your account(s) and how you manage them to the credit reference agency. If you borrow and do not repay in full and on time credit reference agencies will record the outstanding debt and number of missed payments. Records remain on file for 6 years after they are closed, whether settled by you or defaulted.
We may also use credit reference information for debt tracing to recover debts owed and to prevent or detect fraud or to assist in verifying your identity. We may pass information to financial and other organisations involved in fraud prevention to protect ourselves and our customers from theft and fraud. If you give us false or inaccurate information and fraud is identified, details will be passed to fraud protection agencies.
Subject Access Rights
If you write to us and pay a fee of £10 you have a right to access your information held by us. You also have a right of access to your information held by credit reference agencies on payment of a small statutory fee.
The information they hold may not always be the same so it is worth contacting them all.
CallCredit, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 08700601414.
Equifax PLC, Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 010 0583 or log on to www.myequifax.co.uk
Experian, Consumer Help Service, PO Box 8000, Nottingham NG80 7WF or call 0844 4818000 or log on to www.experian.co.uk
To find out more
This is a condensed summary version of how we will use your data.
If you would like to request a full copy with further details and explanations of how your data will be used please contact us on 01162423900, write to us at 1 St Nicholas Place, Leicester, LE1 5LB, ask one of our staff in branch or download here
Clockwise Credit Union Limited, Reg. No. 213498 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Members of the Financial Services Compensation Scheme, the Financial Ombudsmen Service and ABCUL.
2. Free Life Insurance on Savings - Note that this benefit will be withdrawn as of 31 December 2013 - see notification
Clockwise Credit Union agrees to insure any savings held within your share account at no direct cost to you. Insurance is arranged on your behalf through the CUNA Mutual Group.
2.1 What’s covered?
Savings insurance will cover up to 100% of your savings amount to the age of 65 and up to a maximum of £10,000, meaning that should you die under the age of 65 we will match this amount of your savings and pay to your chosen beneficiary. Between ages 65 and 80, we will match 25% of your new savings deposits while still protecting 100% of any deposits made before the age of 65 and not withdrawn.
2.2 What’s not covered?
All new deposits are subject to a six month pre-existing condition limit. This means that should you die from a pre-existing medical condition, and deposits made in the last six months are not covered. Insurance does not cover death due to HIVAids, Suicide, Terrorism or War. Savings Insurance does not include balances held within a Clockwise Current account.
2.3 Beneficiary of Insurance
You agree to nominate as beneficiary of insurance the individual as named on the submitted electronic membership application form. You agree to nominate this person as the person to whom my property in Clockwise as may be mine at the time of my death should be transferred, whether in shares or otherwise, should my membership application be successful.
3. Membership Terms & Conditions
As a member of Clockwise Credit Union, you agree to abide by the following general terms and conditions.
You understand that a non-refundable fee of £5 will be deducted upon joining (£4 admin fee and £1 credited to your account) and that you must maintain a minimum share balance of £1 in order for your membership to remain active.
You declare that the information you have given on the electronic membership application is true and correct to the best of your knowledge and belief.
You agree to abide by the rules of Clockwise Credit Union Ltd. (available upon request )
You understand that from time to time additions and/or amendment to the above terms and conditions, data protection notice, insurance notice or other changes that may affect the operation of your account(s) may be made. You will be informed of any such changes through post at your registered address.
If a period of 12 months passes without any transactions on the account of a Member (or on any of their accounts if they have more than one), the Board of Directors shall have the discretion to declare that the account has become dormant. The Board may take account of any extenuating circumstances in making this declaration.
The Board of Directors shall have the discretion to charge an annual administration fee on each dormant account, an amount not to exceed £5 or any such reasonable amount sufficient to cover the administration costs of membership specified by the Board of Directors from time to time and agreed by the Members at the annual general meeting
In relation to a Member who does comply with the minimum shareholding requirement as set out in rule 46 of the Clockwise rulebook, but whose account is dormant, Clockwise may alert the Member to the dormancy by contacting the Member in Writing at their last known Address notifying the Member that there have been no transactions on their account (or their accounts if they have more than one) during the last 12 months, and providing the Member with a six week period to determine the future use of their account(s).
Any communication in Writing made under rule 32 of the Clockwise rulebook shall contain:
a. Information on reactivating or closing their account and withdrawing from membership;
b. Information about the right of the Credit Union to charge an annual administration fee;
c. Reference to rule 34 which enables the Credit Union to remove dormant accounts into a suspense account and subsequently expel the Member from membership.
If the Member does not reactivate or close their account(s) within six weeks of the Clockwise issuing the communication, the Board of Directors shall have the discretion to:
a. Hold any monies within the account(s) of such Member in a suspense account pending the Member’s subsequent withdrawal of their money, or activity on their account;
b. Charge the annual administration fee;
c. Expel the Member from membership of the Credit Union in accordance with rule 24 of the Clockwise rulebook.