Updated Member Account Terms & Conditions

1 Oct 2025

We wish to inform you that we are making changes to our Member Account Terms and Conditions.

The key changes relate to the provision on your Account (being a payment account other than your Current Account) of the new ‘SEPA Instant Payments’ and ‘Verification of Payee’ services by us, being the changes previously notified to you  by way of a Regulation 76 Notice  issued on 1 July 2025. These changes were implemented effective 1 September 2025 and we are now updating our Member Account Terms & Conditions to implement and fully reflect the changes. Please see the ‘Summary of Key Changes’ below.

We have also updated the Member Account Terms & Conditions to remove reference to the CU Cash Card which was discontinued as a service in 2024.

Please click the button below to view the revised Member Account Terms and Conditions. The new Member Account Term and Conditions are also available in all our branches.

Updated Member Account Terms & Conditions: 1st Oct 2025

Summary of Key Changes

SEPA Instant Payments and Verification of Payee

  • On and from the 9th of October 2025 you can via SEPA Instant send and receive funds to your Account (as defined) in under 10 seconds via our online services or in branch.
  • We are also introducing Verification of Payee (VOP). VOP is a new security measure to ensure that your funds are sent to the intended recipient. When making payments you will be prompted to carry out a check to identify if the name of the payee you are paying matches the IBAN before you send the SEPA payment.
  • We have expanded our definitions in Clause 1 of Section A and Section B respectively of the Member Account Terms and Conditions with the inclusion of amended or new terms for ‘Credit Transfer’, ‘SEPA’,  ‘SEPA Credit Transfer’, ‘SEPA Instant Credit Transfer’ and “Verification of Payee’, and for other related terms such as ‘Transaction Limit’ and ‘Sanctions’. The bulk of the other text changes have been made to Clause 8 of Section A and Clause 2 of Section B of the Member Account Terms and Conditions.

 

First Choice Credit Union Cash Card

  • We have removed reference to the CU Cash Card which was discontinued as a service effective 30 September 2024.

Any questions?

Please contact us at enquiries@fccu.ie or phone 094 9022969 and we will be happy to address your questions.