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Money Mover terms

Meridian Money Mover Service – External Account Transfers Terms and Conditions

What is Meridian’s Money Mover Service

Use Meridian’s Money Mover service to authorize a link from your Meridian account to an external account you hold at another Canadian financial institution. Once the link has been set up, you can transfer funds between the linked accounts any time from Meridian’s online banking website, Meridian mobile banking app or by contacting the Meridian contact centre.

How do I get set up?

Two options are available to authorize the Meridian Money Mover Service.

Option 1 - Meridian’s online banking website:

To complete the online authorization process you will be asked to provide Meridian with specific online banking details from your other Canadian financial institution. Meridian will use these details to retrieve only the necessary account information from your other Canadian financial institution to complete your online authorization. To utilize the online process to set up and authorize the Money Mover Service, you must agree to both the Meridian Money Mover Service – External Account Transfer Terms and Conditions AND the MX Technologies, Inc. (“MX”) Terms and Conditions.

Option 2 – Complete the External Account Authorization Form

To obtain the form you can either download the External Account Authorization Form from the Meridian Online Banking website or visit a Meridian retail branch. Once you complete and return the form, Meridian will review and link the account at your other Canadian financial institution to your Meridian account. Please note that authorization and set up could take up to five (5) business days to complete. Meridian will contact you by secure message via the Meridian online banking web site to advise when your authorization is completed.

Fees and Charges

None. Meridian’s Money Mover service is provided free of charge.

Your Privacy

Meridian’s Privacy Policy Meridian is dedicated to protecting your privacy and your personal, business and financial information. We carefully follow privacy policies and security practices in everything we do, to support our commitment to you. For more information visit our website. 

Your Personal Information Online Authorization for, and use of, Meridian’s Money Mover service, requires the following account information (“Account Information”) from your other Canadian financial institution to be collected, used and disclosed to Meridian:

  • Name of the account holder

  • External account(s) details (i.e. Full institution name, routing, transit and account number(s))

To obtain the Account Information listed above, you must provide the following online banking credentials (“Online Banking Credentials”) of your other Canadian financial institutions which holds the external account(s) details:

  • Online banking ‘Username’

  • Online banking ‘Password’

  • Online banking responses required to clear Multifactor Authentication (MFA) security

The Online Banking Credentials will be passed securely to our third party provider, MX, which will securely access your other Canadian financial institution online banking website to obtain your Account Information to authorize and setup the Money Mover Service. Neither your Account Information nor your Online Banking Credentials will be stored or used by Meridian or MX for any other purpose or service.

Purposes for which your Personal Information is Collected, Used and Disclosed

Meridian will collect, use and disclose your personal information consistent with Meridian’s Privacy Policy and this agreement to:

  • Obtain the Account Information from your other Canadian financial institution required to register for the Money Mover service;

  • Provide you with a list of eligible external accounts from your other Canadian financial institution for you to select and authorize  for use in the Meridian Money Mover service

Meridian will ask for your consent before using your Account Information for any additional purposes. You may contact us to withdraw your consent at any time; however, this may affect your ability to use Meridian’s Money Mover Service.

Risk of Harm Meridian protects your personal information with appropriate physical, technological and organizational safeguards relative to the sensitivity to the information, regardless of the format in which we hold it (physical or electronic) and even when it is being disposed. We regularly train our employees on the importance of maintaining the confidentiality of your information. However, it is important to be aware, when sharing personal information, there is always a risk of inadvertent disclosure, even with all relevant safeguards implemented. Meridian takes this responsibility seriously. Meridian’s Money Mover Service is assessed a very low risk for such disclosure.

Money Mover Service Authorization

1. Interpretation Account — means the Account Holder’s credit union Account Information Account Holder — means the primary applicant and any additional applicants on the Account. The Account Holder is also the Payor. Electronic Services — means all of the Meridian services available through the use of Equipment and applicable software, in combination with the PAC, and includes Telephone Services and Internet Services. External Account — means an account held at a Canadian financial institution in the Account Holder’s name. PAC and/or Password — means the personal access code selected by the Member for the Member’s use, which, when used with software (as applicable) and Equipment, permits access to the Electronic Services. Payor — means the party whose External Account is debited. The Payor is also the Account Holder. Pre-Authorized Debit (PAD) — means a debit that is processed electronically in accordance with the Depositor’s written request.

2. Authorize Meridian to transfer funds from your Meridian account to the linked external account identified by you at the times and for the amounts specified by you. You acknowledge that we may limit the amount of these transfers.

3. Further authorize Meridian to transfers transfer funds from the external account identified by you to your Meridian account at the times and for the amounts specified by you.

  1. Your authorization is provided for Meridian’s benefit and for the benefit of the other financial institution where the External Account is held, and that it is provided in consideration of the other financial institution agreeing to process Pre-authorized Debits against your External Account in accordance with the Rules of the Canadian Payments Association (CPA)

  2. transfers may be originated at set intervals or with sporadic frequency (scheduled or unscheduled) as determined by you;

  3. transfers may be issued for a fixed amount or a variable amount as determined by you;

  4. the act of logging on to Electronic Services using the PAC and/or Password and initiating the transfer constitutes your authorization for the transfer. This includes your authorization for sporadic transfers and your authorization for amount changes to transfers occurring at set intervals;

  5. Meridian may limit the amount of these transfers;

  6. you understand, accept, and participate in the processing of funds transfer requests from your External Account to your Account according to the Rules of the CPA;

  7. recourse will not be provided through the clearing system pursuant to the CPA Rules (that is, you will not receive automatic reimbursement in the event of a dispute). You must seek reimbursement from the payee (your Account) in the event that a transfer is erroneously charged to the External Account. However, you may dispute a transfer if you did not authorize this agreement. Should this occur, you must deliver a declaration to the other financial institution within 90 calendar days of the transfer to the External Account. Transfers disputed after this time will be addressed between you and Meridian;

  8. delivery of this authorization to Meridian constitutes delivery to the other financial institution;

  9. the other financial institution is not required to verify that each transfer has been issued in accordance with this authorization, including the amount and purpose of the transfer, prior to processing the transfer.

4. You agree to immediately notify us, in writing, of any changes to the account information of the External Account.

I/We acknowledge that if I/we wish to cancel this agreement or if I/we have any questions or need further information with respect to a PAD, I/we can contact the Payee at the telephone number or address set out in this agreement.

5. You acknowledge and agree that Meridian, at its discretion, may limit the type of transfer that can conducted between your Meridian account and your linked external account, specifically weather transfers will be in the form of credits to the external account, debits from the external account or both credits and debits from the external account.

6. You may cancel this authorization at any time with appropriate notice, as designated by Meridian, and in a manner acceptable to us.

7. The terms and conditions of the Account Agreement and the Electronic Service Agreement between you and us will apply to the transfer contemplated by this authorization.

8. You agree that for the proper application of the CPA Rules, Meridian may disclose information contained in this Agreement to the other financial institution.

MX Technologies, INC.  TERMS AND CONDITIONS

Your use of MX account verification enabled by MX Technologies, INC API from within Meridian Online banking website is subject to the following terms.

This User agreement contains the terms and conditions for your use of digital money management tools and services that we may provide to you and that involve accessing third party account information (“Services”).  Hereinafter “you” “your” means the User and “us” “we” “our” or “Financial Institution” refers to Client (protecting MX as its third-party service provider). 

  1. Provide Accurate Information. You represent and agree that all information you provide to us in connection with the Services is accurate, current, and complete. You agree not to misrepresent your identity or account information. You agree to keep account information secure, up to date and accurate. You represent that you are a legal owner, or an authorized user, of the accounts at third party sites which you include or access through the Services, and that you have the authority to (i) designate us and our service providers as your agent, (ii) use the Services, and (iii) give us and our service providers the passwords, usernames, and all other information you provide.

  2. Content You Provide. Your use of the Services is your authorization for Financial Institution or its service providers, as your agent, to access third party sites which you designate in order to retrieve information. You are licensing to Financial Institution and its service providers any information, data, passwords, usernames, PINS, personally identifiable information or other content you provide through the Services. You authorize us or our service providers to use any information, data, passwords, usernames, PINS, personally identifiable information or other content you provide through the Services or that we or our service providers retrieve on your behalf for purposes of providing the Services, to offer products and services, and for other permissible business purposes. Except as otherwise provided herein, we or our service providers may store, use, change, or display such information or create new content using such information. You understand and agree that the Services will be provided from the United States, and the data you provide through the Services, including your personally identifiable information, will be transferred and processed from within the United States.

  3. Authority to Access Information. Unless and until this end user license agreement is terminated, you authorize and direct Financial Institution and its service providers to access information at third-party sites on your behalf. Third-party sites shall be entitled to rely on the authorizations and directions made by you or through your account. For all purposes hereof, you hereby authorize and direct Financial Institution and its service providers to access third-party sites to retrieve information, use such information, as described herein, with the full power and authority to do and perform each and every act and thing required and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. You understand and agree that the Services are not sponsored or endorsed by any third-party site. YOU ACKNOWLEDGE AND AGREE THAT WHEN FINANCIAL INSTITUTION OR ITS SERVICE PROVIDERS ACCESS AND RETRIEVE INFORMATION FROM THIRD-PARTY SITES, THEY ARE ACTING AT YOUR REQUEST AND WITH YOUR PERMISSION AND AUTHORIZATION, AND NOT ON BEHALF OF THE THIRD-PARTY SITES. 

  4. Third Party Accounts. With respect to any third-party sites we may enable you to access through the Services or with respect to any non- Financial Institution accounts you include in the Services, you agree to the following:

  5. You are responsible for all fees charged by the third party in connection with any non- Financial Institution accounts and transactions. You agree to comply with the terms and conditions of those accounts and agree that this User agreement does not amend any of those terms and conditions. If you have a dispute or question about any transaction on a non- Financial Institution account, you agree to direct these to the account provider.

  6. Any links to third party sites that we may provide are for your convenience only, and Financial Institution and its service providers do not sponsor or endorse those sites. Any third-party services, which you may be able to access through the Services, are services of the listed institutions. We nor our service providers have responsibility for any transactions and inquiries you initiate at third party sites. The third-party sites you select are solely responsible for their services to you. We nor our service providers are liable for any damages or costs of any type arising out of or in any way connected with your use of the services of those third parties.

  7. Limitations of Services. When using the Services, you may incur technical or other difficulties. We nor our service providers are responsible for any technical or other difficulties or any resulting damages that you may incur. Any information displayed or provided as part of the Services is for informational purposes only, may not reflect your most recent transactions, and should not be relied on for transactional purposes. We and our service providers reserve the right to change, suspend or discontinue any or all of the Services at any time without prior notice.

  8. Acceptance of User Agreement and Changes. Your use of the Services constitutes your acceptance of this User agreement. This User agreement is subject to change from time to time. We will notify you of any material change via e-mail or on our website by providing a link to the revised User agreement. Your continued use will indicate your acceptance of the revised User agreement. The licenses, user obligations, and authorizations described herein are ongoing.

  9. Aggregated Data. Anonymous, aggregate information, comprising financial account balances, other financial account data, or other available data that is collected through your use of the Services, may be used by us and our service providers to conduct certain analytical research, performance tracking and benchmarking. Our service providers may publish summary or aggregate results relating to metrics comprised of research data, from time to time, and distribute or license such anonymous, aggregated research data for any purpose, including but not limited to, helping to improve products and services and assisting in troubleshooting and technical support. Your personally identifiable information will not be shared with or sold to third parties.

  10. Ownership. You agree that Financial Institution and its service providers, as applicable, retain all ownership and proprietary rights in the Services, associated content, technology, mobile applications and websites.

  11. User Conduct. You agree not to use the Services or the content or information delivered through the Services in any way that would: (a) be fraudulent or involve the sale of counterfeit or stolen items, including but not limited to use of the Services to impersonate another person or entity; (b) violate any law, statute, ordinance or regulation (including without limitation those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising); (c) create liability for Financial Institution or its service provider or cause Financial Institution to lose the services of our service providers; (d) access the information and content programmatically by macro or other automated means; or (e) use the Services in such a manner as to gain unauthorized entry or access to computer systems.

  12. Indemnification. You agree to defend, indemnify and hold harmless Financial Institution, its third party service providers and their officers, directors, employees and agents from and against any and all third party claims, liabilities, damages, losses or expenses, including settlement amounts and reasonable attorneys' fees and costs, arising out of or in any way connected with your access to or use of the Services, your violation of these terms or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

  13. Disclaimer. The Services are not intended to provide legal, tax or financial advice. The Services, or certain portions and/or functionalities thereof, are provided as strictly educational in nature and are provided with the understanding that neither Financial Institutions nor its third-party providers are engaged in rendering accounting, investment, tax, legal, or other professional services. If legal or other professional advice including financial, is required, the services of a competent professional person should be sought. Financial Institution and its third-party providers specifically disclaim any liability, loss, or risk which is incurred as consequence, directly or indirectly, of the use and application of any of the content on this site. Further, Financial Institution and its third-party providers are not responsible for any credit, insurance, employment or investment decisions or any damages or other losses resulting from decisions that arise in any way from the use of the Services or any materials or information accessible through it. Past performance does not guarantee future results. Financial Institution and its third-party providers do not warrant that the Services comply with the requirements of the FINRA or those of any other organization anywhere in the world

  14. DISCLAIMER OF WARRANTIES. YOU AGREE YOUR USE OF THE SERVICES AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE, AND OUR SERVICE PROVIDERS, DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE USE OF THE SERVICES, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WE, AND OUR SERVICE PROVIDERS, MAKE NO WARRANTY THAT THE SERVICES (i) WILL MEET YOUR REQUIREMENTS, (ii) WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (iii) THE RESULTS THAT MAY BE OBTAINED FROM THE SERVICES WILL BE ACCURATE OR RELIABLE, (iv) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL OBTAINED BY YOU THROUGH THE SERVICES WILL MEET YOUR EXPECTATIONS, OR (v) ANY ERRORS IN THE SERVICES OR TECHNOLOGY WILL BE CORRECTED.ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF SUCH MATERIAL. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM FINANCIAL INSTITUTION OR ITS SERVICE PROVIDERS THROUGH OR FROM THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.

  15. LIMITATION OF LIABILITY. YOU AGREE THAT FINANCIAL INSTITUTION AND ITS THIRD PARTY SERVICE PROVIDERS WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, RESULTING FROM (i) THE USE OR THE INABILITY TO USE THE SERVICES AT OUR WEBSITE/MOBILE APPLICATION OR OF ANY THIRD PARTY ACCOUNT PROVIDER'S WEBSITE/MOBILE APPLICATION; (ii) THE COST OF GETTING SUBSTITUTE GOODS AND SERVICES, (iii) ANY PRODUCTS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO, THROUGH OR FROM THE SERVICES, (iv) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSION OR DATA, (v) STATEMENTS OR CONDUCT OF ANYONE ON THE SERVICES, (vi) THE USE, INABILITY TO USE, UNAUTHORIZED USE, PERFORMANCE OR NON-PERFORMANCE OF ANY THIRD PARTY ACCOUNT PROVIDER SITE, EVEN IF THE PROVIDER HAS BEEN ADVISED PREVIOUSLY OF THE POSSIBLITY OF SUCH DAMAGES, OR (vii) ANY OTHER MATTER RELATING TO THE SERVICES.

  16. Other Terms. You may not assign this User agreement. A determination that any provision of this User agreement is unenforceable or invalid shall not render any other provision of this User agreement unenforceable or invalid.