Common use of Bill Payment Clause in Contracts

Bill Payment. If we approve Bill Payment services for your account, you may pay your bills electronically, and have your recurring bills paid automatically. We will process bill payment transfer requests only to those creditors the Credit Union has designated in the User Instructions and such creditors as you authorize and for whom the Credit Union has the proper vendor code number. We will not process any bill payment transfer if the required transaction information is incomplete. We will withdraw the designated funds from your checking account for bill payment transfer by the designated cut-otf time on the date you schedule for payment. We will process your bill payment transfer within a designated number of days before the date you are scheduled for payment. You must allow sufficient time for vendors to process your payment after they receive a transfer from us. Please leave as much time as though you were sending your payment by mail. We cannot guarantee the time that any payment will be credited to your account by the vendor. • There is no limit on the number of bill payments per day. However, you may not use Bill Payment services to (a) pay taxes or make other payments to governmental agencies, (b) pay court-directed alimony or support or (c) make payments to payees outside of the United States or U.S. territory. • Additional information and limitations, including cut-otf times and vendor information are set forth within the Credit Union’s Service Agreement for Online Banking Services and related user instructions. These materials will be available to you online at the time you request services. The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. We may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction, and there may be limits on the duration of each access.