Instant Pay Service Disclosure

Instant Pay is a digital banking service that allows you to send money to recipients (other persons or businesses) by providing certain required information.

Using Instant Pay, you may initiate an Instant Pay transfer in which funds are transmitted from your Star One Credit Union deposit account and sent through the Federal Reserve to the recipient’s financial institution for credit to the individual based on the information you provide.

Your use of the service is subject to the following terms and conditions in addition to the other applicable terms of the Electronic Funds Transfer Agreement and Disclosures and Membership and Account Agreement.

Instant Pay transactions are subject to the following transfer limitations:

• $5,000 per day (maximum)
• $500 per day for seven (7) calendar days for new accounts (open less than thirty (30) calendar days)
• $500 for first 48 hours to new recipient

In order to initiate an Instant Pay transaction, you may be required to provide certain information regarding the transfer, the recipient, and the recipient’s financial institution. The Credit Union, the Federal Reserve, and the recipient’s financial institution will all rely on the information you provide. If you provide an identifying number (routing number) for the recipient’s financial institution or for the recipient (or both), the Credit Union, the Federal Reserve, and the recipient’s financial institution will all rely on those numbers, even if they identify a different financial institution or recipient.

Once you initiate an Instant Pay transaction, it cannot be revoked or reversed. Therefore, it is critical that you obtain and provide the Credit Union with correct information for the transfer. You are fully responsible for the accuracy and correctness of the information you provide to the Credit Union. In addition, do not use this service to send money to a person or business that you do not know or with whom you are not familiar with. There is no ability to reverse or charge back an Instant Payment transaction due to the recipient’s failure to provide or perform goods or services you have requested. Accordingly, do not use the service to send funds if you believe you may need to recover those funds later.

We reserve the right to deny access or terminate the service at any time without prior notice to you.