Mastercard Debit Card T&Cs

Effective date: 13 January 2026

Applies to: All First Credit Union Incorporated members issued with a Debit Mastercard®

1.            INTRODUCTION & AGREEMENT

1.1.        Contract formation. As soon as you sign, activate, or use your Debit Mastercard®, you agree to these Terms and Conditions, including the Application Form and any product specific disclosures. These Terms form the contract between you (the cardholder) and First Credit Union Incorporated (trading as First Credit Union).

1.2.        Mastercard® scheme rules. Use of the card is subject to applicable Mastercard Rules and standards (including dispute/chargeback frameworks). Where these rules require or prohibit certain actions, those requirements form part of these Terms.

Your obligations (summary). You must: 

1.3.        Keep your PIN and your Personal Account Number (PAN, the card number) secure.

1.4.        Sign your card immediately upon receipt and treat the card as First Credit Union property.

1.5.        Promptly update us if your personal details change (name, address, phone, email).

1.6.        How to contact us. 24/7 Phone: 0800 462 347. Postal: PO Box 585, Waikato Mail Centre, Hamilton. Email: welcome@firstcu.co.nz. Website: www.firstcreditunion.co.nz.

2.            DEFINITIONS

In these Terms:

• Card / Debit Mastercard® means your First Credit Union Mastercard branded debit card.
• Cardholder means a person authorized by First Credit Union to use the Card.
• Merchant means a business accepting Mastercard payments.
• POI/POS means point of interaction devices (e.g., EFTPOS terminals, ATMs).
• Digital Wallet means a tokenized representation of your card stored in services such as Google Pay and Apple Pay. (First Credit Union supports Google Pay for eligible cards.)
• Information Privacy Principles (IPPs) refers to the 13 principles in the NZ Privacy Act 2020 governing collection, use, storage, and disclosure of personal information. [privacy.org.nz], [legislation.govt.nz]

3.            RECEIVING, SIGNING & SENDING CARDS OVERSEAS

3.1.        Sign immediately. Upon receiving your card, sign it and do not use it until signed.

3.2.        Sending cards overseas. Do not mail your card overseas or have someone send it to you overseas. Contact us for guidance if you need a card while abroad.

4.            CARD OWNERSHIP

4.1.        Property. The physical card and number remain the property of First Credit Union. Do not copy or reproduce the card. If we instruct you to return or destroy the card, you must comply.

5.            SELECTING & PROTECTING YOUR PIN

5.1.        PIN selection. If we issue a new card or card number, select a PIN via Internet Banking or the First Credit Union Mobile Banking app (not in branch). Choose a PIN you can remember and avoid unsuitable numbers (e.g., birth dates, repeating/sequence numbers, phone numbers, driver’s licence numbers, card digits).

5.2.        Security requirements. Your PIN must not be written down, stored with the card, or disclosed to anyone (including police, friends/family, or bank staff). Shield the keypad at ATMs/POS and never let others use your card or PIN.

5.3.        SCA / additional verification for online transactions. For some e commerce or card not present transactions, we (or Mastercard) may require Strong Customer Authentication (e.g., EMV® 3 D Secure / “Mastercard Identity Check”) which can include risk based checks, one time passcodes, or biometrics to protect you from fraud.

6.            ACTIVATING YOUR CARD

6.1.        Activation method. Your card is issued inactive. Activate it by completing a successful PIN based transaction in person, such as:

• Inserting the card at a merchant POS/EFTPOS terminal; or
• Performing a balance enquiry or cash withdrawal at an ATM.

After approval, your card will be activated for all permitted transaction types, including e commerce.

7.            LOST, STOLEN, OR COMPROMISED CARD/PIN

7.1.        Notify us immediately if:

• Your card is lost or stolen;
• Your PIN is or may be known to someone else; or
• A record of your PIN is lost or stolen.

Use Mobile Banking or Internet Banking to block the card, then call 0800 462 347. Confirm telephone notifications in writing within 7 days.

7.2.        Overseas. If outside New Zealand, notify a bank displaying the Mastercard symbol, or call us collect at +64 7 808 6552. Replacement card fees may apply.

7.3.        Police. We may share relevant information with Police.

8.            LIABILITY FOR UNAUTHORISED USE

8.1.        After notice. Once you’ve told us your card is lost/stolen or PIN disclosed, you won’t be responsible for unauthorised transactions occurring after that time, unless the circumstances in 8.3 apply.

8.2.        Before notice. You’ll be liable up to $50 for any loss occurring before you notify us.

8.3.        Exceptions (no $50 cap). You may be liable up to the lower of (a) actual loss at time of notification, (b) the maximum you could have withdrawn between loss and notification, or (c) the total credit available on the account, if you:

• Didn’t follow these Terms; failed to reasonably safeguard the card; or stored PIN on/with the card;
• Selected an unsuitable PIN or disclosed your PIN;
• Unreasonably delayed notification; failed to prevent shoulder surfing; or acted fraudulently or negligently.

8.4.        Industry best practice (informational). Banks in NZ have separately committed under the NZBA Code of Banking Practice to compensate certain unauthorised and scam payments subject to conditions; First Credit Union is not a registered bank, but we align our approach to fair, reasonable, and secure handling of unauthorised transactions. For Code details, see NZBA’s website. 

9.            FIRST CREDIT UNION’S LIABILITY

9.1.        We are responsible for direct and reasonably foreseeable loss or damage caused by the failure of your card or a functioning electronic terminal to operate properly (excluding devices visibly faulty or marked as out of service). We are also liable for losses resulting from fraudulent or negligent acts or omissions of our employees or agents.

10.         RESPONSIBILITY FOR TRANSACTIONS

10.1.     What you authorise. You are responsible for all transactions made using your card or card number, including:

• Cash withdrawals and POS / POI / EFTPOS purchases (including contactless),
• E-commerce transactions: Mail/telephone/internet orders, recurring payments (subscriptions), and card on file transactions.

10.2.     Recurring payments. If you set up recurring payments with a merchant, you must cancel directly with the merchant. Closing your account does not cancel the merchant’s authority.

10.3.     E commerce risk. Consider the reputation and security of merchants, especially for card not present transactions. We recommend transacting on secure websites and monitoring statements.

11.         INCORRECT OR UNAUTHORISED TRANSACTIONS (DISPUTES)

11.1.     Timeframes. If you believe a transaction is incorrect or unauthorised, notify us in writing within 60 days of the transaction date. Failing to report within 120 days (or any shorter period required under Mastercard dispute rules for the specific reason code) may limit our ability to reverse the transaction.

11.2.     Information to provide. Include: your name and card token ID; amount and nature of the dispute; copies of receipts/vouchers (if available); device/location (terminal or website); date/time (approx.); and any Police complaint details.

11.3.     Investigation & outcome. We will acknowledge your complaint within 5 days, investigate, and advise outcomes and any adjustments. If we consider the charge should remain, we’ll set out our reasons and any service charges.

11.4.     External dispute resolution. If you’re not satisfied after our internal process, you may refer the matter to Financial Services Complaints Limited (FSCL): 0800 347 257, Level 4, 101 Lambton Quay, Wellington 6011, PO Box 5967, Wellington 6140, complaints@fscl.org.nz, fscl.org.nz. 

12.         TRANSACTION PROCESSING & LIMITS

12.1.     Irrevocability. Using your card is an irrevocable instruction to debit your account. Reversals are limited and subject to Mastercard scheme rules (e.g., quality disputes are between you and the merchant).

12.2.     Debiting timing. Electronic transfers are debited on the day of the transaction or as soon as practicable thereafter. Transactions made at non First Credit Union terminals are processed when notified by the device owner’s bank.

12.3.     Daily limits (subject to available funds): Daily transaction limits may vary based on risk assessment and individual card profiles. First Credit Union may apply lower limits than the standard maximums to certain cards for security or fraud prevention purposes. These limits may change without prior notice to protect you and First Credit Union from risk. Standard Daily Limits are:

• Up to NZD $10,000/day for POS (EFTPOS, contactless, and e commerce) across all accessible accounts;
• Up to NZD $3,000/day in combined domestic/international ATM withdrawals, quasi cash and foreign exchange purchases: Transactions classified as quasi cash (e.g., purchasing travellers’ cheques, foreign currency, or gaming chips) and foreign exchange purchases are processed against ATM withdrawal transaction limits. Please note that such transactions may also incur additional surcharges or restrictions depending on the merchant and the type of purchase.

12.4.     Overdrafts. Acceptance of any transaction does not represent available funds. Overdrawn transactions incur standard charges (see Rates & Fees).

12.5.     Offline transactions. Vouchers signed or authorised by you may be processed when received; if the account is closed or has insufficient funds, you remain liable.

13.         ACCEPTANCE & LIMITATIONS

13.1.     Acceptance. In NZ and overseas, your card is accepted where the Mastercard® or Cirrus® symbol is displayed. We are not liable if a merchant/bank refuses acceptance or excludes certain goods/services.

13.2.     Contactless. You can tap to pay where enabled. In New Zealand, contactless transactions up to NZD $200 may not require PIN/signature; above $200 you may be prompted for PIN. Overseas limits vary.

13.3.     Merchant surcharges. Some merchants may apply a surcharge for contactless. This should be disclosed prior to payment and will appear separately on your statement.

14.         FOREIGN CURRENCY TRANSACTIONS & DYNAMIC CURRENCY CONVERSION (DCC)

14.1.     Exchange rates. Mastercard converts foreign currency purchases and cash withdrawals to NZD using Mastercard daily rates, effective at the time of authorisation or, in certain cases, at processing (e.g., if submitted 9+ days later).

14.2.     Fees. Overseas ATM/EFTPOS network fees, First Credit Union fees, and any foreign currency conversion fee may apply—see our Rates & Fees Schedule (which forms part of these Terms) or visit any branch.

14.3.     DCC warning. Merchants/ATMs may offer to bill you in your home currency via Dynamic Currency Conversion (DCC). DCC can include additional markups and may be costlier than letting Mastercard convert to NZD. We recommend choosing local currency to avoid DCC costs unless you specifically want DCC. 

15.         DIGITAL WALLETS & TOKENIZED USE

15.1.     Eligibility. Where supported (e.g., Google Pay and Apple Pay), you may add your card to a Digital Wallet. You are responsible for securing any device storing your card token (e.g., passcode/biometrics).

15.2.     Liability & disputes. Transactions via a Digital Wallet are treated as card transactions under these Terms. You must notify us promptly of any device loss/compromise and remove the card from the wallet. 

16.         DAMAGED OR FAULTY CARDS

16.1.     Replacement. Return the damaged/faulty card with a description of the issue. We will issue a replacement and may charge a fee. The replacement card remains subject to these Terms.

17.         AUTHORISATIONS & DEBIT HOLDS

17.1.     Holds. For certain purchases (e.g., hotels, airlines, online merchants), an authorisation hold may temporarily reduce available funds (up to 7 business days). If authorised, your ledger balance may temporarily exceed available funds.

18.         JOINT CARDHOLDERS

18.1.     Joint liability. Where cards are issued on a joint account, all joint cardholders are bound by these Terms and are jointly and severally liable for amounts owing.

18.2.     Instructions & notices. We may act on instructions from either joint cardholder. Notices to one constitute notice to all.

18.3.     Cancellation. Either joint cardholder may cancel one or both cards by notifying us in writing and returning the card(s) cut in half. The joint account may be frozen pending re issuance of individual cards.

18.4.     Age. A joint cardholder must be at least 15 years old.

19.         THIRD PARTY TERMS & NETWORK CONDITIONS

19.1.     Other participants’ terms. Use of EFTPOS or ATM devices may be subject to conditions set by other financial institutions participating in the relevant payment systems.

19.2.     Mastercard operating rules. Transactions and disputes are subject to Mastercard network rules, including chargeback processes, reason codes, and time limits.

20.         VARIATION OF TERMS

20.1.     We may vary these Terms. Examples include legal/regulatory change, market changes, product improvements, or other legitimate business purposes. We’ll give at least 14 days’ advance notice using one or more of: direct communication (letter/email), Internet Banking message, branch notices, website notice, or media statements. We will act reasonably and consistently when exercising discretion.

20.2.     Good practice reference. The NZ Code of Banking Practice sets industry principles of fair banking. While First Credit Union is not a registered bank, we consider its principles when updating our Terms. 

21.         PRIVACY & DATA PROTECTION

21.1.     Privacy Act 2020. We collect, store, use, and disclose personal information in accordance with the Privacy Act 2020 and our Privacy Policy (available in branch). This includes the 13 Information Privacy Principles (IPPs) covering collection, storage/security, access/correction, accuracy, retention, use, and disclosure, including overseas disclosures. Your continued use of the card constitutes acceptance of our Privacy Policy.

21.2.     Card scheme processing. Cardholder data may be shared with Mastercard and overseas processors solely for payment processing, anti fraud/chargeback handling, and network compliance under Mastercard standards. 

22.         ELECTRONIC COMMUNICATIONS & SIGNATURES

22.1.     Legal validity. Electronic information, records, and signatures are generally valid under NZ law. Paper based requirements in statutes may be met via electronic technology, in line with Part 4 of the Contract and Commercial Law Act 2017 (which consolidated and repealed the Electronic Transactions Act 2002). Where required, we will obtain your consent to electronic delivery.

23.         ANTI MONEY LAUNDERING (AML) & SANCTIONS

23.1.     AML/CFT compliance. You agree to provide information we reasonably require to comply with the Anti Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) and related regulations/guidance. We may delay, defer, stop, charge back, or refuse to process transactions (or terminate our relationship) if you do not provide required information in the manner/timeframe specified.

23.2.     Sanctions compliance. We may delay, defer, stop, charge back, or refuse transactions where we know or suspect a breach of NZ or international sanctions, or involvement of a sanctioned person/entity (including regimes implemented under the Russia Sanctions Act 2022 and UN sanctions implemented via the United Nations Act 1946). 

24.         CONTACTLESS TRANSACTIONS (ADDITIONAL PROVISIONS)

24.1.     Limits & verification. We (or the terminal) may require PIN or signature:

• For NZ transactions over NZD $200;
• Randomly for security; or
• Where issuer/merchant risk controls require. Limits may differ overseas. 

25.         CHARGES & FEES

25.1.     Rates & Fees Schedule. Charges may change; current fees are available in our Rates & Fees Schedule (part of these Terms) at any branch. 

26.         CARD CANCELLATION, EXPIRY & RENEWAL

26.1.     By us. We may cancel your card at any time or refuse renewal after the valid thru date. If notified of cancellation, cut the card in half and return it.

26.2.     By you. You may cancel by notifying us in writing and returning the card (cut in half). You remain responsible for transactions/fees/charges incurred up to cancellation (and any amounts that post thereafter due to merchant processing delays).

26.3.     Expiry & renewal. We may issue a replacement prior to expiry; if we do not, the card will cease to operate after the valid thru date.

27.         FORCE MAJEURE

We are not liable for delays, non performance, or service interruptions caused by events beyond our reasonable control (e.g., network outages, war, terrorism, natural disasters, government actions), provided we take reasonable steps to mitigate and restore services.

28.         GOVERNING LAW

These Terms are governed by New Zealand law. You and we submit to the non exclusive jurisdiction of NZ courts and tribunals.

29.         NOTICES

We may give notices via: direct communication (letter/email), Online Banking message, branch notices, website posting, or media statements.

30.         COMPLAINTS

If you have concerns, please contact us first. If unresolved, you may escalate to FSCL (details in 11.4). 

31.         CONSUMER LAW — YOUR STATUTORY RIGHTS

Nothing in these Terms limits your rights under the Consumer Guarantees Act 1993 or Fair Trading Act 1986 (for qualifying consumer transactions). Sellers can’t contract out of these Acts for consumer goods/services; rights include remedies for products/services not of acceptable quality or misleading conduct. 

32.         HELPFUL SECURITY GUIDANCE (INFORMATIONAL)

• 3 D Secure / Identity Check may apply for online transactions to protect you and reduce fraud; it uses risk based data and may challenge via OTP or biometrics.
• When overseas, decline DCC if you prefer network FX rates; select local currency on POS/ATMs.
• Always monitor statements and report suspicious activity promptly (preferably within 60 days, and no later than 120 days or scheme specific limits). 

APPENDIX A — CONTACT DETAILS

• First Credit Union: www.firstcreditunion.co.nz; 0800 462 347 
• FSCL: 0800 347 257; complaints@fscl.org.nz; Level 4, 101 Lambton Quay; PO Box 5967, Wellington 6140; www.fscl.org.nz
• Mastercard Rules (public): mastercard.com

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NOTABLE CHANGES VS. JANUARY 2023 VERSION (SUMMARY)

Added Definitions and reorganised sections for clarity.

• Included Mastercard Rules reference and chargeback timeframes (with scheme dependence).
• Clarified contactless limits and PIN prompts in NZ; noted overseas variations.
• Added explicit clauses for DCC and FX rate disclosure.
• Added Digital Wallet terms (e.g., Google Pay availability).
• Strengthened Privacy Act 2020 compliance and overseas disclosures.
• Updated Electronic communications validity (Contract and Commercial Law Act 2017).
• Corrected and expanded AML/CFT and Sanctions sections for NZ law alignment. 
• Added Force Majeure and Governing Law.
• Clarified that statutory consumer rights under CGA and FTA are preserved.