People Pay Payments Sample Clauses

People Pay Payments. People Pay is a convenient method to pay other people you know and trust. Once you decide to use People Pay to make a payment to someone, you understand that by selecting the People Pay service through National Exchange Bank & Trust’s Online Banking and accepting these terms and conditions, you authorize National Exchange Bank & Trust to post transactions generated by People Pay through your National Exchange Bank account (”Designated Account”) to another account at a U.S. financial institution or to PayPal™ for payment to another individual. You understand and agree that National Exchange Bank & Trust uses a variety of banking channels and facilities to make payments, but will ordinarily use an Automated Clearing House (ACH) Network for People Pay transactions. All payments to another person made through People Pay are subject to all terms and conditions within this Agreement and all other agreements connected with your accounts. In addition, you understand that you may receive funds through the People Pay service from a payment generated by another individual. You hereby acknowledge that the receipt of money from another person is subject to the terms and conditions of other account agreements between you and National Exchange Bank & Trust. You understand and agree that when you initiate a payment from your National Exchange Bank & Trust checking account or Money Market account using People Pay, the processing of the payment will begin and the debit from your account may occur immediately. Receipt of the funds by the recipient will be dependent on the acceptance of the payment by the recipient and whether information requested from the recipient has been provided. Once funds are sent by the user, those funds are not retrievable. You understand and agree that National Exchange Bank & Trust is relying upon the information you provide when originating a payment on your behalf. All transactions done using the People Pay service in Exchange OnLine should be conducted with individuals (not business entities) and with people you know and trust. Any errors, including incorrect or inconsistent recipient names, email addresses, mobile phone numbers or account numbers are your responsibility. You understand and agree that National Exchange Bank & Trust has no responsibility to investigate discrepancies between names, email addresses, mobile phone numbers or account numbers. You further understand that financial institutions holding recipient accounts are not respon...
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