Common use of Expedited Payments Clause in Contracts

Expedited Payments. “Expedited Payments” allow you to schedule a payment and have the payment sent on same or the next Business Day as scheduling the payment, depending on when your Expedited Payment is scheduled. By scheduling an Expedited Payment, you may schedule and pay bills the same-day electronically or cause an overnight check to be issued and sent to the Payee. For same Business Day electronic or overnight check payments, you must schedule your payment prior to 6:45 p.m. CT Monday-Friday. If you schedule an Expedited Payment after 6:45 p.m. CT Monday-Friday or on a non-Business Day, then your payment will be processed and sent the next Business Day. In addition to the foregoing Bank limitations, all Expedited Payments are subject to Payee validation, Payee established cut-off payment time-frames, and Funds Verification. There is an additional premium fee for Expedited Payments, which will be assessed and charged to your Account in accordance with the Account Agreement and Disclosure. Some exceptions may apply to Expedited Payments and you will immediately be contacted in the event your Expedited Payment request cannot be met by Bank. Once an Expedited Payment is scheduled, it cannot be cancelled.