Common use of Bill Payment Clause in Contracts

Bill Payment. Payments are made to your payee either electronically via the Automated Clearing House (ACH) or by check or laser draft. The Credit Union processes payments through a third party vendor and is not responsible for the timing of payments. The method of payment depends upon the processing method that can be accommodated by the payee or by our Bill Payment service vendor. It is important that you take into consideration what method of bill payment will be used when scheduling your payments to ensure payment deadlines are met. If the payee accepts electronic bill payment, the payment may take up to three business days to process. If the payee does not accept electronic bill payment, the payment will be sent in a check form, and may take up to five business days to process. The following member responsibilities apply: − Any late payment, late fees, interest payments, and service fees charged by merchant(s); − Any overdraft, NSF or stop payment fees charged by the Credit Union as a result of these transactions; − Data input of payee information (payment amount, name, address and any other pertinent information); − Written notification to the Credit Union in the event you wish to cancel this service; and − You must allow sufficient time for bill payments to be processed so that the funds can be delivered to the merchant on or before the payment due date. Limitations on Transactions: − The maximum aggregate transaction amount is $9,999.99 during any 24-hour period; − Bill payments can only be made from your share draft (checking) account; − Payments cannot be made for tax payments, court-ordered payments or payments to payees outside of the United States; − If you close the designated bill payment account, all scheduled payments will be stopped; − You cannot stop a payment if the payment has already been processed; and − You can schedule payments 24 hours a day, seven days a week; however, payments scheduled on a Saturday, Sunday, or a holiday will be processed on the next business day. P2P (Person-to-Person) Payments Powered by PayPal. PayPal is a Payment Service Provider. PayPal helps you make payments to third parties. PayPal is an independent contractor for all purposes, except that PayPal acts as your agent with respect to the custody of your funds only. PayPal does not have control of, or liability for, the products or services that are paid for with our service. We do not guarantee the identity of any recipient or ensure that a recipient will complete a transaction.

Bill Payment. Payments are made You authorize us to your debit the Account, as specified by you, for the purpose of transferring funds to a payee either electronically via the Automated Clearing House (ACH) or by check or laser draft. The Credit Union processes of bill payments through a third party vendor and is not responsible for Digital Banking Services. You should pay bills before the timing of payments. The method of payment depends upon due date within the processing method that can be accommodated time period recommended by the payee or by our Bill Payment service vendorus from time to time. It is important You will confirm with the billing institution that you take into consideration what method of the bill has been paid. Any changes or cancellations to a bill payment will must be used when scheduling your payments made within the time period we specify from time to ensure payment deadlines are mettime. If the payee accepts electronic you use any of our services for bill payment, the payment may take up to three business days to process. If the payee does not accept electronic bill payment, the payment will be sent in a check form, and may take up to five business days to process. The following member responsibilities apply: − Any late payment, late fees, interest payments, and service fees charged by merchant(s); − Any overdraftyou are responsible for the accuracy of your payment instructions, NSF or stop payment fees charged by including the Credit Union as a result of these transactions; − Data input of payee information (billing company paid, billing account number, payment amount, nameother information in your bill profile, address and any other pertinent information); − Written notification your Personal Information recorded in our systems. Depending on the type of payment, payment instructions may be final and irrevocable, and it may not be possible to retrieve funds sent in error. We may update your bill profile, including your billing account numbers and billers’ names, if informed of a change by the Credit Union xxxxxx or if deemed necessary by us. You will ensure that you have sufficient funds in your Account (or a line of credit or overdraft protection) at the effective time of payment. Payment instructions may not be processed without sufficient funds. Postdated payments set up by you may not be processed for a number of reasons, including insufficient funds, inconsistency between the billing account number on your postdated payment and the billing account number recorded on your bill profile at the time of processing the payment, and a change in the event status of the xxxxxx. You are responsible for knowing your xxxxxx’x payment requirements. We may reject, cancel or return a payment to you wish to cancel this service; and − You must allow that does not meet those requirements. In addition, you are responsible for ensuring that your payments are scheduled so that there is sufficient time before the due date for bill payments them to be processed so that by us and by the funds can be delivered to the merchant on xxxxxx. Payment instructions made by you after our daily cut-off time or before the payment due date. Limitations on Transactions: − The maximum aggregate transaction amount is $9,999.99 during any 24-hour period; − Bill payments can only be made from your share draft (checking) account; − Payments cannot be made for tax payments, court-ordered payments or payments to payees outside of the United States; − If you close the designated bill payment account, all scheduled payments will be stopped; − You cannot stop a payment if the payment has already been processed; and − You can schedule payments 24 hours a day, seven days a week; however, payments scheduled on a Saturdayday on which we are not open for business will require extra time to reach the xxxxxx. There is no guaranteed time or date of delivery of your payment. We are not responsible for any penalties, Sundayfees, interest, costs or a holiday will be processed on the next business day. P2P (Person-to-Person) Payments Powered damages suffered by PayPal. PayPal is a Payment Service Provider. PayPal helps you make payments to third parties. PayPal is an independent contractor for all purposes, except that PayPal acts as your agent with respect to the custody of your funds only. PayPal does not have control ofany payments, or liability for, for our inability to retrieve any payments. Please note that the products or services bill payment facility should only be used to pay your utility bills to an institution that are paid for is maintained as a xxxxxx with our serviceelectronic payment service provider. We do Bill payment should not guarantee be used for making payments to your accounts with other banks, individuals or companies or any other entity that is not a registered xxxxxx with our electronic payment service provider. The “Customer Specific Xxxxxx” option may be used by students, who intend to pay their fees to educational institution, only if the identity of any recipient or ensure that beneficiary educational institution is not maintained as a recipient xxxxxx with our electronic payment service provider. Any payments to a Customer Specific Xxxxxx, other than payments to educational institutions, will complete a transactionnot be processed by SBIC.