AUTOMATIC PAYMENT SERVICE Clause Samples
The Automatic Payment Service clause establishes a system where payments are made automatically, typically through electronic transfers or direct debits from a designated account. This clause outlines the procedures for enrolling in the service, the timing and frequency of payments, and the responsibilities of both parties to ensure sufficient funds are available. By automating the payment process, this clause helps prevent missed or late payments, streamlining financial transactions and reducing administrative burdens for both parties.
AUTOMATIC PAYMENT SERVICE. If you requested to have your Card payment made automatically, your payment will be made on the due date printed on your statement. If the payment date falls on a weekend or holiday, the payment will be made the next processing day. Payments will be based on the ending balance from the previous month’s statement. If you wish to cancel this service, you may notify us either by calling or writing, at any time, up to 3 business days before the scheduled date of the transfer. You must follow up any oral notification, in writing, within 14 days of the oral notification.
AUTOMATIC PAYMENT SERVICE. The Borrower hereby chooses to have its principal and interest payments made pursuant to the Bank's Automatic Payment Service, and authorizes the Bank to collect all sums due hereunder by charging the full amount thereof to the Borrower's Account. Should there be insufficient funds in the Account to pay when due all or any portion of the amount due, the full amount of such deficiency shall be immediately due and payable by the Borrower.
AUTOMATIC PAYMENT SERVICE. If you requested to have your credit Card payment made automatically, your payment will be made on the due date printed on your statement. If the payment date falls on a weekend or holiday, the payment will be made the next processing day. Payments will be based on the account balance from the previous month’s statement. If you wish to cancel this service, you may notify us either by calling or writing, at any time, up to 3 business days before the scheduled date of the transfer. You must follow up any oral notification, in writing, within 14 days of the oral notification. Any financial service provided by the credit union maybe used for any transaction permitted by law. You agree that illegal use of any financial service will be deemed an action of default and/or breach of contract and such service and/or other related services may be terminated at our discretion. Illegal use includes, but is not in any way limited to, unlawful Internet gambling. You further agree, should illegal use occur, to waive the right to sue us for such illegal activity directly or indirectly related to it. You also agree to indemnify and hold the credit union harmless from any suits or other legal action or liability, directly or indirectly, including credit union expenses associated with defense of such law suits or other legal action, including attorney fees, resulting from such illegal use.
AUTOMATIC PAYMENT SERVICE. If you requested to have Your Card payment made automatically, your payment will be made 25 days after the statement print date. If the payment date falls on a Weekend or holiday, the payment will be made the next processing day. Payments will be based on the ending balance from the previous month’s statement. If you wish to cancel this service, your autopay amount will pull as scheduled for the current due date. The cancellation will take effect with next credit card statement cycle when the new outstanding balance is calculated. Any financial service provided by the Bank may be used for any transaction permitted by law. You agree that illegal Use of any financial service will be deemed an action of default and/or breach of contract and such service and/or other related services may be terminated at our discretion. You further agree, should illegal Use occur, to waive the right to sue us for such illegal activity directly or indirectly related to it. You also agree to indemnify and hold the Bank harmless from any suits or other legal action or liability, directly or indirectly, including Bank expenses associated with defense of such law suits or other legal action, including attorney fees, resulting from such illegal Use.
AUTOMATIC PAYMENT SERVICE. If You request to have Your Card payment made automatically, Your payment will be made 25 days after the billing statement print date. If the Payment Due Date falls on a Weekend or holiday, the payment will be made the next processing day. Payments will be based on the ending balance from the previous month’s billing statement. If You wish to cancel this service, Your autopay amount will pull as scheduled for the current due date. The cancellation will take effect with the next billing statement cycle when the new Outstanding Balance is calculated.