Balance Transfer Terms & Conditions
By requesting a balance transfer, you authorize Mountain America Credit Union to pay the balance on a non-Mountain America account ("Payee Account") by initiating transfer(s) from the selected line of credit ("Credit Line") in the amount you specified, not exceeding the available credit on the Credit Line. You understand that Mountain America is not responsible if payments to the Payee Account are late or lost in the mail. Interest begins accruing on the Credit Line from the date you initiate the transfer. Mountain America will initiate the balance transfer within three business days. Total processing time is dependent on the mode of payment and payee processing.
You understand the transfer amount, the Payee Account address(es), and/or the Payee Account number(s) are based on the information you have provided. In the event the transfer amount is returned or applied to the wrong account due to incorrect payee information, you understand you will need to pay any late fees and/or additional interest accrued on the Payee Account(s). In the event the transfer amount does not cover the full balance of the payee account, you understand and agree that you are responsible for any remaining balance.
Certain limitations apply to the amount that may be transferred.
For balance transfers to a Mountain America Visa® credit card, you agree to the terms and conditions of the credit union disclosure and cardholder agreement. You agree to give Mountain America a lien and security interest on all present and future shares in your name(s) to secure the prompt payment and proper performance of your obligation under the credit card agreement. See Disclosure and Cardholder Agreement for additional information.
You understand that the transfer may be canceled prior to 6:00 p.m. Mountain Time on the date the transfer is initiated. The transfer may be canceled by visiting the history tab in the balance transfer portal.
