AUTOMATIC EFT

Here is a brief description of how our Automatic EFT works. With this feature you specify parameters to control the automatic transfer of your money to your Deposit Account. The right parameters will ensure you always have access to information when you need it. Information on your BC OnLine statement will allow you to do your bank reconciliation.

1. You "register" your chequing account information with BC OnLine. At the same time you specify amounts of money to be your "EFT Trigger Point", "Account High Balance", and "Maximum EFT Amount". The latter amount places a limit on how much money we can automatically transfer from your chequing account per day. You may instruct us to change these amounts in the future.

2. At the end of the day, if the balance in your BC OnLine Deposit Account is less than the EFT Trigger Point amount you specified, our computer performs the following calculation:

         $_____ the "Account High Balance"
                amount you specified
   minus $_____ current closing balance
                in your account
       = $_____ difference
   

3. Our computer compares the calculated difference, above, to the "Maximum EFT Amount" you specified. The lesser of the two amounts becomes the amount of your Automatic EFT.

4. The final steps performed by our computer are to credit your Deposit Account with the amount of the EFT, and to send a request to your bank for a transfer of money from your bank account.

AUTOMATIC EFT EXAMPLES:

• Q: Do you want your EFT to be the same pre-determined amount of money every time?
  A: Specify a Maximum EFT Amount that is equal to the difference between your Account High Balance and your specified EFT Trigger Point. Every Automatic EFT will equal your Maximum EFT Amount.
  
  For example,

     If your EFT Trigger Point = $ 50, and
     your Account High Balance = $150, and
     your Maximum EFT Amount   = $100,
  

  then the funds transfer will always equal $100.
  
  
• Q: Do you want to keep a small amount in your BC OnLine Deposit Account and pay for your searches and registrations by EFT daily?
  A: Specify an EFT Trigger Point that is $1 less than your Account High Balance amount.
  
  For example,

     If your EFT Trigger Point = $ 99, and
     your Account High Balance = $100, and
     your Maximum EFT Amount   = $300,
  

  then your EFT amount will equal however much your day's charges were, up to a maximum of $300. An EFT will happen at the end of every day you use BC OnLine. The amount of each EFT will vary, depending on your charges that day.
  
  
• Q: Would you prefer to make large, infrequent deposits to your BC OnLine account and minimize your bank reconciliation effort?
  A: Specify a large difference between your EFT Trigger Point amount and your Account High Balance amount.
  
  For example,

     If your EFT Trigger Point = $  100, and
     your Account High Balance = $2,100, and
     your Maximum EFT Amount   = $2,000,

  then an EFT will occur only when you have accumulated $2,000 worth of charges.
  In this example, the amount of your EFT would be exactly $2,000.
  

  If you spend an average of $100 from your Deposit Account each day, your account balance will fall below your EFT Trigger Point approximately every 3 weeks. At that time, an automatic EFT will be initiated by our computer.

• Q: Do you want to ensure that your Deposit Account has sufficient funds at the start of each day for your needs?
  A: Specify a Maximum EFT Amount higher than the most you would ever expect to spend in one day, including your monthly network charges. If your Maximum EFT Amount is not high enough, you risk having your access revoked due to lack of funds in your Deposit Account. Alternatively, you could use an Electronic Cheque to send additional money.

• Q: If an Automatic EFT takes place when you don't expect it, and if there are insufficient funds in your bank account, what will happen?
  A: If you do not have sufficient funds in your bank account to cover the amount of the EFT, your bank will return it to us "NSF". Your EFT deposit will be reversed out of your BC OnLine Deposit Account. Your EFT Agreement with BC OnLine may be suspended.

  Our $30 service charge for a returned cheque or EFT will be deducted from your Deposit Account. You might also have to pay a separate service charge to your bank.

  If the reversal of your EFT deposit takes the balance of your Deposit Account below $0, your access to the Registry data bases is automatically revoked.

  You can avoid these problems by ensuring that your bank account always has a minimum balance sufficient to cover your Maximum EFT Amount.

          BC OnLine Partnership Office
          PO Box 9412, Stn Prov Govt
          Victoria, BC
          V8W 9V1
          Fax: (250) 952-6115