Bill Pay Payment definition
Examples of Bill Pay Payment in a sentence
If you schedule a Bill Pay Payment, P2P Transfer or other payment to be processed at a future date, you must ensure that there are sufficient funds in the Account on the date the money will be withdrawn from your Account, or it will not be processed.
Obtain information (payee information, payment status information, etc.) about your bill payment account status. • Bill Pay Payment Transactions.
We will credit the Bill Pay Payment Amount to your SoFi Bank Account when the stop payment on the stale check is placed.
SoFi Bank reserves the right to charge a fee for a declined payment or a returned check, or Bill Pay Payment or P2P Transfer for which there are insufficient funds.
If a Bill Pay Payment check is returned to us by the Payee prior to the end of such 180-day period, we will credit the Bill Pay Payment Amount to your SoFi Bank Account.
If a Bill Pay Payment is returned to us for any reason (e.g., the Payee’s forwarding address expired, your account number with the Payee is not valid, the Payee is unable to locate your account, your account with the Payee is paid in full, etc.), SoFi Bank will notify you of the return and promptly credit the amount of the Bill Pay Payment to your SoFi Bank Account.
SoFi Bank will not be responsible for any costs or losses you may incur (including fees, costs, charges, attorneys’ fees, investment losses, claims, demands, or liability resulting from any litigation or other actions) as a result of its decision to decline any Bill Pay Payment, P2P Transfer, ATM withdrawal, etc., or its decision to not honor a check presented for payment or other transaction because your Account has insufficient funds.
If a Payee fails to cash or negotiate a Bill Pay Payment sent by check within 180 days after the Delivery Date, we will notify you and place a stop payment on the stale check.
If a future or recurring scheduled Delivery Date for a Bill Pay Payment falls on a day that is not a Business Day, the related payment will be deducted from your Account on the Business Day immediately prior to the timeframes described above in order to facilitate delivery on or prior to the scheduled Delivery Date.
The funds for a manual Bill Pay Payment will be debited from your Account approximately five (5) Business Days prior to the scheduled Delivery Date you select.