Individual Billing definition
Examples of Individual Billing in a sentence
Regardless of whether Corporate Billing, Corporate Billing combined with Finance Office Billing, Individual Billing or Individual Billing combined with Finance Office Billing has been selected for a Customer Account, it is always the Customer’s ultimate responsibility to make sure payments are made by the Payment Due Date indicated on each Billing Statement.
The Customer can also decide to combine Corporate Billing or Individual Billing with Finance Office billing (“Finance Office Billing”) for a Customer Account, at any time.
For a Customer Account which is in U.S. dollars, regardless of whether Corporate Billing, Corporate Billing combined with Finance Office Billing, Individual Billing or Individual Billing combined with Finance Office Billing has been selected, (i) payments from a U.S. dollar account can be made by mail, through the Royal Bank telephone service or through RBC Express, and (ii) payments from a Canadian dollar account can be made by mail or through RBC Express.
The Customer who selects Individual Billing hereby consents to the receipt of the Memo Statement in this manner and acknowledges that it is its responsibility to retrieve the Memo Statement in RBC NextLogic and verify it on a monthly basis.
Once Corporate Billing or Individual Billing has been selected for a Customer Account, the Customer cannot change the selected choice unless the entire Customer Account is closed and a new one opened.
If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, the Customer can avoid interest on both Purchases and Fees on a Cardholder Account or a Finance Office Account by always paying the New Balance in full on or before the Payment Due Date, every month.
Notwithstanding the foregoing, the Customer understands that if Individual Billing has been selected, any payments made by cheque to a Cardholder Account by a Cardholder, followed by a withdrawal by the Cardholder before such cheque gets refused by the Cardholder’s financial institution, are not covered by the Liability Waiver Program.
If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account.
If Individual Billing has been selected for a Customer Account, the Customer must, in connection with each Cardholder Account under that Customer Account, make the Minimum Payment by the Payment Due Date towards each Cardholder Account, equal to the lesser of (i) $10.00, plus interest, plus Fees, or (ii) that Cardholder Account’s New Balance, in order to keep the Cardholder Account (and thereby the Customer Account) up to date.
If a combination of Individual Billing and Finance Office Billing has been selected for a Customer Account, Royal Bank will provide the Finance Office with a single and aggregated monthly Billing Statement for all Cardholder Accounts established under that Finance Office Account, and the Customer and individual Cardholders with a Memo Statement.