Some merchants and financial institutions choose to process your checks electronically through the ACH system rather than submitting the paper copy. This converts your original check to an electronic transaction. This type of transaction does not provide LMCU with a check copy. The depositing financial institution retains that check copy and provides LMCU only with electronic information. Most ACH transactions, including ACH checks, will show up as pending on the account history screen of your account. You will see: The company name and amount of the transaction. The check number may not display on the pending screen and the description may be a broader, corporate title that might change to be more specific once the check actually posts. One way to identify a confusing transaction is to look for the amount in your check register.
Since an ATM machine does not know if an envelope contains cash, checks or is actually an empty envelope, funds deposited in an ATM are not available until they can be validated by our staff. The ATM deposit hold is two business days (Monday- Friday). Our Accounting Department works on releasing the holds as soon as a deposit has been verified, so your deposit may be released earlier. While on hold, an ATM deposit is not available for any transactions that post to your account. The deposit will show as part of your "balance" but not the "available balance". Individual branch offices are not able to process ATM deposits as they do not have access to the ATMs. For quicker processing, consider using the "Night Deposit Boxes" that are available at most of our branches. Deposits placed into the "Night Depository" go directly to the branch and tellers begin posting them on the following business day.
When requesting an authorization for an electronic payment or deposit to your account, please include both the 9 digit routing number and the 12 digit-MICR format of your account number. The 9 digit routing number is 272480678. It is the same for all accounts. The MICR format of your account number can be found on the bottom of your checks. It is the second set of numbers and is 12 digits long. You can also find this inside of Online Banking or get it over the phone by calling our Member Services Department at (616 or 800) 242-9790 ext. 9910. To find the MICR number online please log in to your account and click on the ‘Other Services’ tab then click ‘Display MICR’ (under Share Maintenance).
When you ask a company to automatically withdraw a payment from your account, you give that company the authorization for those electronic withdrawals. The transaction is submitted and controlled by the merchant where it was originated. To discontinue the ACH/electronic payment, you will have to contact the company where it was set up. Because the amount of advance notice the company requires varies, it is best to notify them well in advance of the withdrawal date. It is also a good idea to keep record of who you spoke with to cancel that withdrawal. You might want to follow up your conversation with a fax or written note. If you have withdrawn that company’s permission to take the payment and the transaction still posts, you can dispute that withdrawal by signing an "Affidavit of Unauthorized ACH Withdrawal" form. This form can be signed at any branch location or please call our Member Services Department at (616 or 800) 242-9790 ext. 9910 to request a form be mailed to you.
A Credit Card or Debit Card transaction might be denied for a variety of reasons such as: 1. Insufficient available funds. 2. Loan delinquency. 3. Merchant entered incorrect expiration date. 4. Card Status due to lost or possible fraud indicators.5. Exceeding the number of allowed transactions in one calendar day. Visa Debit Cards can be used to make 15 purchases per day and there is a $500.00 daily ATM withdrawal limit. The limits for credit cards are as follows: Visa Prime Platinum - 15 purchases per day. Visa Travel Plus - 20 purchases per day. Visa Max Rewards - 20 purchases per day. Business Credit Cards 20 purchases per day. These limits are based upon average usage for the card programs and are in place for security/fraud prevention reasons. A Card denied because of maximum transactions can be unlocked by our Card Services Department. During business hours please call (616 or 800) 242-9790, ext. 9915.
Images or copies of cleared checks are available in Online Banking. To get the copy in Online Banking:1. Log in to your account2. Click on the checking account from which the check cleared3. Look through your transaction history for the check, or search for it by check number or amount. 4. Next to the transaction, click on the blue check icon to pull up a copy of the front and back of the cleared check. Copies of checks that are cleared electronically are not available. This means the company provided us with information electronically instead of sending a paper copy of the check. To get a copy you would have to contact the payee. If you do not have online access or have trouble getting a copy of a check, please call Member Services at (616 or 800) 242-9790 ext. 9910 to have the check copy mailed or emailed to you. You can also visit any of our branch locations to pick this up in person. We would suggest that you contact our Member Services Department at (616 or 800) 242-9790, ext. 9910 before going into a branch to make sure the copy is readily available on our imaging system for a branch to print. *Copies of checks cleared more than 6 months ago will need to be ordered through our Member Services Department.
Subject to approval, Lake Michigan Credit Union provides overdraft protection through its Courtesy Pay program whereby checking account transactions are approved over-and-above the available balance. That means the Credit Union pays some insufficient funds transactions instead of returning them. This causes a negative available balance in your account and a Courtesy Pay fee for each insufficient funds transaction. The program allows a maximum negative balance in your checking account of a set amount including the transaction and the Courtesy Pay fee. The negative balance must be paid within 31 days or the Courtesy Pay feature will expire. Because that transaction was paid, you do not have to worry about merchants charging you a second NSF fee for returned check and ACH items. Effective September 15, 2009, Lake Michigan Credit Union expanded its Courtesy Pay program beyond checks and ACH withdrawals, to include ATM withdrawals, debit card transactions, scheduled payments done with Bill Pay, as well as in-branch withdrawals per the member’s request. The standard Courtesy Pay fee of $30.00 per item applies to scheduled Bill Payments, ATM withdrawals, Checks, ACH withdrawals, as well as Debit/ATM Card purchases.You can choose to sign a form to opt out of the courtesy pay feature for debit and ATM transactions. Then debit purchases would be denied (whenever possible) as insufficient funds. If you have any questions about this coverage, please stop at any Branch or contact our Member Services Department at (616 or 800) 242-9790, ext. 9910.
Lake Michigan Credit Union provides overdraft protection via it’s Courtesy Pay program whereby checking account transactions are approved over-and-above the available balance for certain types of items: checks, ACH withdrawals, and in-branch withdrawals per the member’s request. The ceiling for Courtesy Pay coverage is approval based. The standard Courtesy Pay fee of $30.00 per item applies to scheduled bill payments ATM withdrawals, Checks, ACH withdrawals, and purchases by Debit Card. Approval of Debit Card purchases that exceed your available balance allows you to buy groceries, gas, or prescriptions without having your purchase declined for insufficient funds. Many times, a fee is preferable to the hassle and/or embarrassment of a declined transaction. Checking account holders are able to “Opt Out” of Courtesy Pay coverage on Debit/ATM transactions. Denial of Debit Card transactions will be based on your available balance when you choose to “Opt Out”. Courtesy Pay is offered at LMCU’s discretion on accounts that are in good standing. This notice applies only to accounts currently with Courtesy Pay. Please contact a Member Services Representative if you wish to review or change the coverage.
At the time you make a debit card purchase, the merchant submits that price for authorization. That amount is put on “hold” to allow that transaction time to process through the VISA system and finally post to your account. That purchase amount decreases the amount of your available balance as you can see on the Online Banking Account Summary Screen. If another transaction, such as a check or ACH withdrawal posts to your account without funds in the available column to pay it, the transaction will then look to overdraft protection for coverage. When Courtesy Pay is that Overdraft Protection, you will see a Courtesy Pay charge as that $30.00 fee will post along with the check causing the shortage. While the actual balance may show enough to cover the transaction, there was not enough in the available amount after debit purchase. The check cannot use the funds already spent for those debit purchases. A debit purchase made while funds are not available will be approved as explained in the statement insert on August 1, 2009. LMCU does not have any control over the order transactions come into your account, and we are not able to hold or sort them so if there is a bottom line shortage, it could cause multiple problems. Total fees are determined by the number of transactions cleared and there is no limit to the total of fees charged. Any negative balance must be paid before the end of 31 days to avoid cancellation of the Courtesy Pay coverage. You do have the ability to “opt out” of Courtesy Pay coverage on your Debit Card. If you have chosen to opt out of Courtesy Pay and wish to have it reinstated, please contact our Member Services Department to discuss eligibility. To maintain the availability of Courtesy Pay, any negative balance would have to be cleared before the end of the 31st calendar day.
Due to recent changes in banking regulations, after July 1, 2010, we will not authorize and pay overdrafts for the following types of transactions unless you formally accept that Courtesy Pay overdraft protection. To be in compliance with the Federal Government’s amendments to Regulation E, you must opt-in to continue receiving the benefits of overdraft protection on your checking account(s). Beginning July 1, 2010 overdrafts for ATM withdrawals and certain debit card purchases will not be covered and your transactions may be declined unless you take action to continue receiving this benefit. You can “Opt In” to keep this overdraft online at our website, inside of Online Banking, by calling our Member Services Department or inside any branch. Opting in will allow LMCU to authorize and pay overdrafts on your ATM and everyday debit card transactions according to your available checking account balance. You have the ability to revoke this authorization in writing at any time. If you choose to “Opt Out”, debit card purchases will be denied, based on your checking account available balance. This does not change the way your transactions are approved, it simply means you must formally accept the Debit ATM coverage. This does not affect established Courtesy Pay’s ability to cover checks and other transactions made using your checking account number and scheduled bill payments. This regulation does not change or revoke any previously established, grandfathered in overdraft protection.
If a Debit-ATM or Credit Card does not work when swiped at a Merchant, it is most likely worn out. It can lose the information in the magnetic strip for a variety of reasons, such as “wallet wear”. We can send you a replacement card by mail, with no change to the numbers or PIN, or you can visit a branch to be issued an instant replacement card. To request a card by mail, please contact our Member Services Department at (616 or 800) 242-9790, ext. 9910 or our Card Services Department at (616 or 800) 242-9790, ext. 9915. You should expect that card in 5 – 7 business days. For an instant replacement card, please visit any of our branch locations with proper ID.
When you sign for a purchase instead of entering your 4 digit PIN, the amount is submitted to the MasterCard system for authorization and is placed on hold on your account. The hold can be on your account for up to 72 hours. Funds on hold are deducted from your "Available Balance" and cannot be used for any other withdrawals that post during the hold time. When a purchase is completely processed, the hold will expire and the charge will post to your account. While a transaction is on hold, you may not see a full description of where it was made. Many times you will only see a generic corporate name or simply the address of the business. Once posted, the description will change to show the name of the company and the date the purchase was made. We cannot predict the post date or time of a transaction and a transaction cannot be cancelled or disputed while on hold.
A card is valid through the last day of the expiring month shown on the bottom of your card. For example a card expiring 01/11 will be valid until the end of January. Expiring cards are automatically re-issued. You do not have to contact us. Replacement cards typically arrive around the 10th of the expiring month. Do not throw the old card away until you have activated your new card.If you do not receive your replacement card by the 20th of the expiring month, please contact our Card Services Department at (616 or 800) 242-9790 x 9915.
To dispute an unauthorized or cancelled ACH/electronic withdrawal, we need your signature on an "Affidavit of Unauthorized ACH Withdrawal" form. You can sign this form at any branch location or please call our Member Services Department at (616 or 800) 242-9790 ext. 9910 to request a form be mailed to you. Within proper guidelines, the withdrawal can be reversed by our Accounting Department within 60 days.
When you sign for a purchase instead of entering your 4 digit PIN, the amount is submitted to the Visa system for authorization and is placed on hold on your account. The hold can be on your account for up to 72 hours. Occasionally you may see a duplicate hold on the same transaction. This may simply mean that the merchant did not see the authorization, voided the sale and started over. It may also be that there was an error with the merchants system at the time of your purchase and it submitted two holds instead of one. A duplicate hold will rarely post as an actual transaction. The correct transaction will post and the duplicate one will simply expire. If a second charge for the same transaction does actually post to your account, you can contact the merchant for a refund and if unable to resolve with the merchant you can dispute the charge with us. Your signature is required on a dispute form to allow us to reverse the duplicate charge. You can sign this form at any branch, or call our Member Services Department at (616 or 800) 242-9790 ext. 9910 to have it mailed to you. Please note that we cannot remove a duplicate transaction while it is on hold. To have a hold removed before its expiration date, please have the merchant contact our Card Services Department at (616 or 800) 242-9790 x 9915.
When you make a purchase with your debit card and enter your 4 digit PIN, the amount of the transaction is withdrawn from your account immediately. This is a "Point of Sale" or P.O.S transaction. Occasionally you may see a double posting of a P.O.S transaction on your account. This may happen if the merchants system is down or there is an error at the time of your purchase. P.O.S double postings are usually corrected as they happen with a refund of the same amount posting immediately after. You will see three transactions for the same amount, two withdrawals and one credit. If you do not see the automatic correction, please contact our Member Services Department at (616 or 800) 242-9790 ext. 9910.
Information can be obtained to make fraudulent transactions in the following ways: Skimming- An illegal, device is attached to a Merchant or ATM card reader to capture the magnetic stripe data. The information “skimmed” from your card is then used to create a counterfeit card for fraudulent transactions. To protect yourself: 1. Be observant at any ATM, store or gas pump you frequently use to notice anything extra or added to the machine. Do not swipe your card. 2. Always keep your card in sight when making a purchase. If that is not possible, such as at a restaurant, be on the alert for abnormal activities. Phishing- The use of bogus e-mails or phone calls that attempt to get the account number information for Debit/Credit card numbers or for Checking or Savings accounts to make fraudulent purchases. These emails might indicate that they need confirmation of personal or account information or that an account has been disabled due to login attempts or other invented problems. A link in the e-mail goes to a website that might look authentic and often, there is a request for Debit / Credit Card numbers with PINs or your Routing and Checking account numbers. Please delete the message without response. By phone, the caller might be very persistent and persuasive. Please end the call. If you have already responded to such an e-mail by providing any confidential account information, please notify us immediately at (616 or 800) 242-9790, ext. 9910, for Member Services. To protect yourself: Never give your complete card number, expiration date, pin number or the 3-digit number on the signature panel out unless you are the one initiating the contact. LMCU will never send an email or make a phone call demanding to verify any of this information. Data Compromise - Merchants or the Merchant’s Data Processors may store too much card data in their computer files. Fraud occurs if Computer hackers break into these databases to steal this card information and magnetic stripe data. Visa has mandated rules be put in place to limit the amount of data stored. Merchants and Merchant Processors are continually being monitored and audited to insure compliance. To protect yourself: Review your monthly statement every month, if you notice any unauthorized charges please contact LMCU immediately to dispute.
A 'Maintenance Fee' is a monthly fee posted to Basic Checking accounts. The Basic Checking account is an old account type that we used to offer. We have replaced that product with a Free Checking account which does not have any monthly fees. To have the maintenance fee waived and to convert your Basic Checking account to a Free Checking account please contact our Member Service Department at (616 or 800) 242-9790 x 9910. Our Free Checking account has no minimum balance or usage requirements and no monthly fees. This change will not affect your checks or debit card.
Any existing LMCU checking account can be converted to a Max Checking account easily without changing your account number or requiring new checks or debit cards. To do so contact us: -Via secure message using the Contact Us option at lmcu.org -By phone at (616 or 800) 242-9790 -At any branch location -By email at firstname.lastname@example.org Max Checking pays a great rate on balances up to $15,000 and offers a refund of up to $15 in ATM surcharge fees when the following account usage requirements are met each month: 1. Direct Deposit into Max Checking 2. 10+ posted debit card purchases 3. 4+ logins to Online Banking 4. Statements sent electronically ("eStatements") Requirements are evaluated each month at month-end. There is no penalty or fee if requirements are not met. If you have additional questions please contact Member Services at (616 or 800) 242-9790 ext. 9910.
There are 4 monthly usage requirements for the Max Checking account. They are as follows:-Direct deposit into your LMCU account -Minimum of 10 debit card purchases -Minimum of 4 logins to Online banking -Be eligible and Sign up to receive eStatements/eNoticesIf the requirements are met during each calendar month, your interest payment and the ATM surcharge fees (up to $15.00) are deposited on the last day of the month. Due to the merchant processing time and the system month end closing to compile monthly Statements, you may see some transactions back dated. Debits and Online Banking log ins done late in the month would be credited to the next month’s qualifications. Debit transactions count for the month in which they post.Normal account use typically satisfies requirements well before the end of the month, but if you are in doubt, you can check your MAX status inside of Online Banking. Once logged in, click on ‘Max Checking Status’ on the right-hand side under ‘Quick Links’. There are no fees or penalties if the requirements are not met. Interest would not be paid for the month in which requirements are not met and they would reset at the beginning of the next month to allow you to start over.
A Non-Sufficient Funds (NSF) check that was returned unpaid can come through again, as it is still a valid payment. When a check is returned it goes back to the depositor. LMCU does not control it. Each depositing Financial Institution sets his or her own policy, so we can only speculate as to how it would be handled. If the check is resent to try to clear, again without the funds, it would be returned stamped "Do Not redeposit". The payee or merchant can then run the transaction as an ACH withdrawal until that payment has been satisfied. Continued shortages would cause a “per occurrence” NSF fee. LMCU must honor any transaction submitted to your account. You might want to contact that payee to find out how they handle these situations.
An order for checks can be placed inside any branch or by calling our Member Services Department. The account needs a minimum balance of $100.00 to place an order. The cost of printing will be automatically deducted from your checking account by Electronic withdrawal directly from our printer “Clarke American Harland”. The amount of the checks varies by check style. If your account has VIP status, there is no charge for the first two boxes of checks ordered in a calendar year. The number printed on the bottom of your checks is called the MICR number. If you order checks from an outside vendor, you must include both the 9 digit routing number and the 12 digit- MICR format of your account number. The 9 digit routing number is 272480678. The MICR format of your 12 digit account number can be found in Online Banking under the ‘Other Services’ tab. If you have questions, or prefer to get this in person or over the phone, you may stop at any one of our branch locations or contact our Member Services Department at (616 or 800) 242-9790 x9910.
Overdraft Protection allows transactions to be approved and paid while the balance in your checking account is not sufficient to cover them. LMCU provides overdraft protection in the form of Courtesy Pay. Courtesy Pay will pay transactions even if funds are not available. For each covered transaction, there is a $30.00 Courtesy Pay fee. A form can be signed to “Opt Out” of Courtesy Pay and remove that feature from a checking account. In that case, transactions without sufficient funds to cover them will be returned unpaid with a $30.00 NSF fee. A Debit Card authorization for more than the available balance would be denied whenever possible. *Total fees are determined by the number of transactions cleared and there is no limit to how many fees can be charged. Any negative balance must be paid before the end of 31 days to maintain the Courtesy Pay coverage. For more information on how to avoid negative balances, or how to balance a checking account, please feel free to stop at any branch location or contact our Member Services Department at (616 or 800) 242-9790 x9910.
Online Banking will display an incoming ACH pending transaction whenever we have advance notice of the withdrawal or deposit. You can find all pending transactions online under account history. ACH deposits post in the early morning and withdrawals in the early evening. Some ACH deposits and withdrawals will post directly, without advance display, because many arrive just in time for posting. Please note that the pending ACH withdrawal or deposit amount is not factored into the available balance shown on the Account Summary Screen.
There is a period, anywhere from 8 PM to 11 PM, after all transactions have been posted and finished, that final daily reports are compiled and updates are run. During this time, Online Banking is put into the "offline" or disconnected mode. Certain shortcuts are unavailable. Those functions are restored once all daily processes are finished posting for the day and we move on to the business of the next day. Transactions that post during these “off hours” will be “forward dated” to the next days business. Attempts to satisfy the MAX checking requirements late in the month can be affected as some may be counted as qualifications for the next month if done too late in the day.
Postdating a check is a verbal agreement made with the person you are paying. Many payment centers open and process mail with automated systems, so no person evaluates that check date. Only the numbers on the bottom edge of the check are read mechanically as it passes through the Federal Reserve and our processing system. We cannot evaluate the date. We do not receive your paper checks, only an electronic debit with a copy of your check as paid. By law, payees are not required to hold a check so anytime a check is sent ahead of time there is a risk that it will clear your account earlier than you intend.
LMCU has completed the necessary upgrades to comply with the “Check 21” law passed by Congress and made effective 10-04. This means that checks no longer physically move from Financial Institution to Federal Reserve to Financial Institution. Instead, your check is converted to an electronic image, by the payee Financial Institution and is transmitted directly to your account at LMCU. You may notice that checks now clear throughout the day instead of just after business hours. This method is safe, reliable, and faster than previous methods. Now, more than ever, it is imperative that you make sure funds are available in your checking before you write a check or initiate another transaction that might cause a negative balance. More, detailed information is available on our LMCU Home Page. At the blue “Additional Services” button, click “Check 21”.
To Protect Yourself from Fraud, please: 1. Be observant at any ATM, store or gas pump you use frequently to notice if anything looks “extra” or added to the machine. Do not swipe your card. 2. Always keep your card in sight when making a purchase. If that is not possible, such as at a restaurant, be on the alert for abnormal activities. 3. Never give your complete card number, expiration date, pin number or the 3-digit number on the signature panel out unless you are the one initiating the contact. LMCU will never send an email or make a phone call demanding to verify any of this information. 4. Do not give your card number to a merchant if you do not intend to be billed for that transaction on that card. 5. If a product if offered as "free" or "you only have to pay shipping" but they require your card number to complete the order, you must follow their rules exactly to avoid a billing for the entire purchase price. 6. Make sure to monitor your transactions online or review your statement every month. If you notice any unauthorized charges please contact LMCU immediately to question the transaction.
A check reorder with no changes can be placed inside of Online Banking under the 'Other Services' tab1. Click on "Online Services" 2. Click on "Reorder Checks". 3. Follow the instructions to complete the process. Reorders can also be placed 24/7 by calling 800-355-8123. You will need your 9 digit routing number and the 12 digit format of the account number from the bottom of your printed checks. If you have not ordered checks from us in the past or have changes to make for the re-order, please visit any branch location or contact our Member Services Department at (616 or 800) 242-9790 x 9910.
There are a few ways to stop payment on a check. In Online Banking, click on the 'Other Services' tab, then on 'Stop Payments'. You may also choose to come into any of our branch locations to sign the stop payment form or call our Member Services Department at (616 or 800) 242-9790 x 9910 to place a stop-payment. The stop payment form will be mailed for your signature to finalize any stop payments placed by phone. Verbal stop payment without supporting signature will expire in 14 days.
If you decide you do not want an ACH withdrawal to post on your account, you can block it with a stop payment. A stop payment requires a signature, and costs $25.00. You can sign a stop-payment form at any of our branch locations or call our Member Services Department at (616 or 800) 242-9790 x9910 to place a verbal stop. The necessary form can be mailed or emailed to you for your signature. A verbal stop payment is in place for 2 weeks only. Once you sign the stop payment form and return it to us, we can make that stop payment permanent on the account.
LMCU receives files of incoming checks a few times per day. They post to your account as they come in, with hundreds of other checks posting to accounts between your checks in the same “file”. Unfortunately, we are not able to sort or manipulate the order of payments or hold them to delay payment. The order of postings you see is purely coincidental. Debit Card transactions can post anytime of the day or night, including weekends. ACH (electronic) withdrawals post in the early evening, after business hours. Once all transactions are finished posting for the day, we move on to the next business day and will begin running ACH deposit transactions pending for the following day. You may see a payroll post as early as 11 PM the evening before “pay day”. You will notice then, the date on the transaction reflects the actual “pay date”. While it may look like a check posted just before a deposit, please note that they were actually from two different business days.
The Credit Union is not able to accept deposits in the form of checks payable to a name that is not on the account. Signed over or Third Party checks (checks written to another name and signed over to you on the back) cannot be accepted as deposits.
The "Visa International Service Assessment" is a transaction fee charged by VISA for purchases made with a company or merchant from another country. The fee is 1% of the total purchase amount.
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