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Meridian Online Wire Transfer Agreement

Meridian Online Wire Transfer Agreement


This Meridian Online Wire Transfer Agreement (this “Agreement”) applies when you send an online wire transfer (“Wire”). This Agreement is in addition to the terms and conditions of the Business Online Banking -Terms and Conditions as well as the Electronic Services Agreement — Business which you accepted in order to access or use the services and features offered through Meridian’s Business Online Banking. In this Agreement, “we”, “us”, “our”, and “Meridian” mean Meridian Credit Union Limited and our subsidiaries and affiliates; and “you” or “your” mean the user who is using the online wire transfer service (“Service”). “Beneficiary” is a person who receives money through the Service.

Beneficiary Information

If you send a Wire, we or an Intermediary (defined below) may ask you to provide information about the Wire. You are responsible for providing correct information (“Instructions”) relating to the Beneficiary and the bank you have indicated at which the Beneficiary should receive the Wire (the “Beneficiary Bank”). Neither Meridian nor any Intermediary is responsible to verify the accuracy of any information you provide. Meridian and the Beneficiary Bank may rely solely on the account number that you provided to complete the Wire. While we will make all reasonable attempts to correct any errors of which we are notified, unless Applicable Laws (defined below) requires otherwise, we will not be liable for any losses caused by errors or inaccuracies in your Instructions. We are not under any obligation to seek reconfirmation from you of any of your Instructions. “Intermediary” means any person or persons receiving or handling funds for Meridian or the Beneficiary including but not limited to other financial institutions (including the Beneficiary Bank), payment or clearing networks and their respective agents and service providers.  Unless Applicable Laws requires otherwise, you will bear the complete risk of (i) all ambiguous, unclear or incomplete Instructions and (ii) all unauthorized or otherwise fraudulent Instructions, unless you can prove that an Instruction which was unauthorized or otherwise fraudulent was not caused, directly or indirectly, by a person (A) entrusted at any time with duties to act for you with respect to any Instructions or the applicable security procedures, or (B) who obtained access to your transmitting facilities or who obtained, from a source controlled by you and without your authority, information facilitating breach of the applicable security procedure, regardless of how the information was obtained or whether you were at fault. We will also not be liable to you or the Beneficiary or any other person for any fees that may be deducted from the proceeds of the wire by a Beneficiary’s Bank. For the purpose of this section, “information” includes any access device, computer software, personal identification number (PIN), password or other authenticating information or the like. We may decline to act on any Instructions which we believe are unauthorized or otherwise fraudulent, or which we believe are ambiguous, unclear or incomplete, or which we believe do not conform to the Service as offered by us.

Making a Wire Request and Timing of Receipt

  1. Wire transfers may be either domestic or international, provided, however, international wire transfers may not be sent by us through or into any country in violation of Applicable Laws.  “Applicable Laws” means laws, regulations, orders, guidelines or directives of foreign or domestic governmental authorities or regulatory bodies that apply to Meridian or the Intermediaries (as defined below), whether or not these have the force of law.  
  2. If you request us to send a Wire, we will withdraw the amount of the Wire from your account (“Account”) and ask the Beneficiary Bank to pay this amount to the Beneficiary at the Beneficiary Bank. It will be your responsibility to verify, prior to issuing an Instruction for us to initiate a wire transfer, that funds are available in the Account designated in the Instruction for us to initiate a wire transfer in an amount and otherwise in accordance with such Instruction and to recover payment of all fees and costs and expenses associated with the Wire.
  3. If for any reason sufficient funds are not available as aforesaid, we may, in our sole discretion, do any one or more of the following: (i) execute the Wire, in which event, immediately upon our demand, you will pay to us all amounts wired and all fees and costs and expenses associated with the Wire; (ii) delay the Wire transfer; or (iii) cancel the Instruction and not complete the Wire. We will not have any liability to you or any other person for losses incurred by you or any other person when a Wire transfer is completed where there are not sufficient funds available at the time in your Account, or when a Wire is not completed by us because of the unavailability of funds.
  4. Normally, the Beneficiary receives funds into their account within 1-2 business days. However, we make no representations or warranties on the timing of delivery of the Wire to the Beneficiary which depends on the services of any Intermediary and the Beneficiary Bank. We are not responsible for any delay, failure or performance, damage, penalty, cost, expense or inconvenience resulting to you or any other person from causes beyond our control. We are not liable to you or any other person for incorrect or improper payment to any person arising out of the processing of any Wire transfer, unless caused solely by our gross negligence or willful misconduct.
  5. Instructions must be issued by you to us during those hours of a Business Day when we are open for the receipt and processing of Wire transfers and they must be received and approved by us prior to our cut-off times in order for the Wire to be completed on the Business Day received. Our normal hours each Business Day for the receipt and processing of Wire transfers under this Agreement are typically between 8:00 a.m. and 3:00 p.m. E.T. We may, however, change these hours at any time without prior notice to you and we may change our cut-off times at any time without prior notice to you. We will not have any liability to you or any other person if we do not provide you with prior notice of a change in our normal hours or our cut-off times. “Business Day” means any day, other than a Saturday, Sunday or statutory holiday in the Province of Ontario, when we are open to transact our general banking business.

Foreign Exchange

If you request that the amount of the Wire be made in a currency other than that of your Account (the “Requested Currency”), we will convert the funds into the Requested Currency. The rate of exchange will be our rate, established at the time the funds are converted. Our rates of exchange vary from time to time without any notice. We make no representations or warranties that the Wire will be received by the Beneficiary in the Requested Currency. You accept all risk of all fluctuation of exchange rates between the date we accept your Wire request and the date of payment to the Beneficiary or date of refund to you.

Fees and Interest

With each Wire you request, you agree to pay us applicable non-refundable service fees as disclosed and described on our website at  We reserve the right to change from time to time our fees and other charges.   Additional fees and/or taxes may be deducted from the Wire amount by Intermediary or the Beneficiary Bank. No interest will be paid on funds in transit. Other financial institutions may deduct a fee for processing remittances. You acknowledge that international remittances are subject to cut-off times, time zone differences and local regulations of the destination country.

No Cancellation of or Change to a Wire

Once you request us to send the Wire and the funds and Fees have been withdrawn from your Account, your request to send the Wire may not be cancelled or changed. Wire payment instructions executed by us are irrevocable. Under certain circumstances we will, on a reasonable efforts basis, and upon your request, attempt to recall a wire payment, however, we cannot guarantee return of the funds. If funds are returned, we will credit your Account at our quoted rate of exchange (where you request foreign currency exchange on the date that such credit is made) less applicable Service fees and charges.

Declined, Unclaimed, or Incomplete Wire

If the Wire is declined or unclaimed by the Beneficiary, or is not completed, we shall use our commercial best efforts to attempt to obtain a refund at your request from the Beneficiary Bank.  If all or some of the Wire funds are returned, we will first convert the funds into the same currency as the amount of the Wire at our rate of exchange, established at the time the funds are converted. We shall not be liable to refund you any amount which was not refunded to us including the difference in the rates of exchange.  We may also charge to and debit from your Account all fees and any costs and expenses associated with the Wire refund.


We may engage third party Intermediaries selected in our complete discretion to provide you with the Service. We shall not be liable to you for any such selection made by Meridian, the Beneficiary, or another Intermediary.

Settlement Rules and Applicable Laws

You agree that your request to send a Wire and our ability to complete it will be subject to Settlement Rules (defined below) and Applicable Laws and that Meridian and/or any Intermediaries may take any steps they consider necessary to comply with the Settlement Rules or Applicable Laws. “Settlement Rules” means the rules, procedures, internal policies, standards or bylaws used by Intermediaries or Meridian, or to which Intermediaries or Meridian may be subject.

Suspending, Cancelling or Terminating the Service

  1. You may notify us at any time of your desire to terminate this Agreement. Once we receive your notice, we will establish an effective date which gives us a reasonable amount of time to act upon your request for termination.
  2. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. Our failure to notify you before the effective date of any suspension, limitation, restriction or cancellation will not affect the suspension, limitation, restriction or cancellation, and it will not impose any liability on us to you or any other person.
  3. We may terminate this Agreement immediately and without notice to you or any other person (i) upon your default under or breach of any one or more of your obligations to us under this Agreement, or your default under or breach of any other present or future obligation you may owe to us, (ii) if you become subject to any proceeding under any bankruptcy, insolvency or receivership law, or are liquidated, or (iii) if we believe you have used or are using the Service in a fraudulent, dishonest, immoral or illegal manner, or in a manner not consistent with the Service as offered by us. We also may terminate this Agreement for any other reason by giving you 10 calendar days prior notice.
  4. Generally, transactions initiated prior to the effective date of either cancellation of the Service or termination of this Agreement will not be affected by the cancellation or termination and will continue subject to this Agreement, provided, however, as set out in Section 10(e) below, we reserve the right, in our sole discretion, to cancel, at any time, any transaction, regardless of when the transaction has been initiated and regardless of the date the transaction is scheduled for transmission. Any terms and conditions in this Agreement will survive cancellation or termination which by their terms or inherent nature are intended to survive.
  5. If the Service is suspended or cancelled, or we limit or restrict your use of the Service, or we terminate this Agreement, we may, in our sole discretion, cancel and otherwise not transmit any one or more Wires, whether the Wire or Wires are to be transmitted on the day of suspension, cancellation, limitation, restriction or termination, or a subsequent date or dates.

Governing Law

This Agreement will be governed by and interpreted in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable herein. You agree to submit to and be bound by these laws and the courts of the Province of Ontario in the event of any disputes arising in connection with the Service or this Agreement.

Consent to Disclosure

To comply with the Settlement Rules or Applicable Laws, Meridian or an Intermediary may disclose any information about you and the Beneficiary to an Intermediary or to a foreign or domestic government authority or regulatory body. In addition, there may be instances where we require additional information about you or the Beneficiary to ensure compliance with Applicable Laws, and you acknowledge that certain transactions may not be completed and/or the Service may not be available if you do not provide required information about you or the Beneficiary. You confirm that you have the authority to make such consents and acknowledgements on behalf of the Beneficiary.

Important Service Restrictions

  1. General. You acknowledge that the Service may not be available, in whole or in part, in certain regions, countries, or jurisdictions. We are not obliged to process any particular transaction. When you request to send a Wire, we may, in our sole discretion, choose whether or not to accept your request to send the Wire. If we decide not to process the Wire, we will notify you promptly of that decision and repay to you the Wire amount and any fees that we charged and collected from you. If you successfully request to send the same Wire that we previously decided not to process, you are solely responsible for any loss related to a difference in FX rates.
  2. Third Party. A third party (including an Intermediary and Beneficiary Bank) may set limits on the Wire, including the amount of money you are allowed to send, the amount of money the Beneficiary is allowed to receive or the currency in which the funds are received when you send the Wire.
  3. Commercial Transactions. You should not use the Service to send money except to people that you know. We are not responsible for, the quality or delivery of goods or services that you pay for using the Service. You accept that using the Service to pay for goods and services is at your own risk.
  4. Acting on Your Own Behalf. You and the Beneficiary will only act on your own behaves. You may not request to send a Wire on behalf of a third person.
  5. Unauthorized Transactions. You may not use the Service in violation of this Agreement or Applicable Laws, rules or regulations If we become aware that you use the Service in connection with illegal conduct, we may report you to law enforcement and take other actions concerning your account as deemed necessary by us.
  6. Restricted Activities. In connection with your use of the Service, or in the course of your interactions with Meridian, a user or a third party, you will not:
    1. Breach this Agreement, or any other agreement between you and Meridian; and
    2. Provide false, inaccurate, or misleading information.


We may change any of the terms of this Agreement, fees, and/or Service features for any reason at any time with or without prior notice.

Notices and Communications

You consent to receive this Agreement, notice of changes to this Agreement, and any other disclosure documents required to be provided to you in writing by Applicable Laws by electronic means through Meridian Online Banking which can be accessed at We may continue to issue written notices and other communications to you in paper form and/or by any other reasonable means that we may allow from time to time in our absolute discretion and as allowed by Applicable Laws. For legal purposes, documents sent to you electronically are considered to be ‘in writing’ and to have been signed and/or delivered by us.


Our failure to exercise or delay in exercising any rights does not waive any default or prevent us from enforcing those rights later.


If any provision of this Agreement is found to be invalid or unenforceable, this will not affect the validity of enforceability of the other provisions of this Agreement.


If there is a conflict between a term in this and any other agreement(s) you have with us, the terms of this Agreement will apply to the extent necessary to resolve the conflict.


You have expressly requested that this Agreement and any related documents be drawn up in English. Vous avez expressément exigé que cette Entente et tout document qui s’y rattache, soient rédigés en anglais.