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We’re updating our Personal Membership Agreement Terms & Conditions

We’re updating our Personal Membership Agreement Terms & Conditions

On June 16, 2024, Meridian will be updating the Personal Membership Agreement Terms & Conditions (the “Updated Agreement”) to bring greater clarity, streamline content, and increase transparency.

What has changed?

  • Streamlining of content regarding electronic services, including online banking, mobile banking, mobile payment service, Interac e-Transfer services, and the Deposit Anywhere service. The Updated Agreement outlines the terms and conditions, security measures, and limitations of liability for using these services to prevent fraud and reduce the risk of liability for both the Member and Meridian.
  • Personal information. The Updated Agreement specifies the information and documents that Meridian may collect, use, and disclose from Members for various purposes, such as verifying identity, determining eligibility, providing services, complying with laws, and preventing fraud. It also explains how Members can access, correct, and consent to the use of their personal information. It clarifies that Meridian will continue to maintain identifying documents (including identification and other documents bearing a Member’s likeness) for identifying purposes at account opening and throughout our relationship with the Member.
  • Rights and obligations of joint account holders. The Updated Agreement clarifies language regarding joint accounts, such as the rights and obligations of joint account holders, the ownership of funds, the communication and disclosure of information, and the effect of death or incapacity of a joint account holder.
  • Use of debit cards, information, and instruments. The Updated Agreement revises the terms and conditions for using the debit card, including the confidentiality and security of the personal identification number (PIN), the use of the Interac Flash feature, the Code of Practice, and the consequences of a breach of card security.
  • Fees. The Updated Agreement advises the Member where to access services charges, how Meridian may change fees and charges from time to time, and how Members will be notified of such changes. The Updated Agreement introduces the possibility of a fee, and 30 days’ notice, to facilitate large cash withdrawals.
  • New Content. The Updated Agreement adds new sections on miscellaneous matters typically included in similar financial services agreements, such as the interpretation, severability, assignment, and governing law of the agreement, the waiver of terms, the survival of provisions, and the electronic communication and delivery of documents.
  • Formatting Updates. To aid in navigation, the Updated Agreement now contains a table of content, headings and section numbers.

In addition to the summary of important changes provided above, it is important that you read and understand the Updated Agreement covering the products and services you have chosen. Continued use of your account(s) constitutes acceptance of the Updated Agreement.

View the updated Personal Membership Agreement (PDF, 253 KB)

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