Delivery of Your Payments. Using the Xxxx Payment Services, you may "schedule" a payment for a particular date. The funds for the payment will be deducted from your Account upon the date of scheduling of the payment to Payee; this date may be different than the date a payment is scheduled to be sent or actually sent to the Payee. If your Account has insufficient funds or is no longer an active account in good standing with Bank, then your payment may be delayed or cancelled and you will be responsible for any fees or expenses resulting from such delay or cancellation. Transmission of the payment occurs when your payment is sent to the Payee for delivery; the date the payment is actually sent to the Payee for delivery is the "Transmit Date." The date the Payee actually receives payment may be later than the Transmit Date, and will depend on whether the payment is made electronically or by check, as discussed below.
Delivery of Your Payments. You may schedule payments on the day that you enter the payment information (a “Same Day Payment”), for a future date (a “Future Payment”), or to be automatically initiated in a fixed amount weekly, biweekly, twice a month, monthly, every four weeks, bimonthly, quarterly, semi-annually or annually (known as “Recurring Payments”), subject to the restrictions in this Agreement. Although you can generally enter payment information through the Service 24 hours a day, 7 days a week, payments can be "initiated" only on our Business Days. The date on which a payment is to be "initiated" is the date on which funds are to be deducted from your Account; in this Agreement, it is also called the "Process Date." Please refer to the Online Banking Help section of XXX.xxx for more information regarding the scheduling of payments. After funds are withdrawn from your Account on the Process Date, we may remit your payments by Electronic Funds Transfer, by mailing the Payee a check drawn on an account we maintain for that purpose, or by other means. Because of the time it takes to transmit the payment to your Payees, they generally will not receive payment on the Process Date. This is the case regardless of whether the payment is a Same Day Payment, a Future Payment, or a Recurring Payment. Therefore, in order to provide sufficient time for payment to be received by your Payees, the Process Date for each payment should be at least five (5) Business Days before the Due Date. The “Due Date” is the date on which the payment must be received by the Payee to be considered “on time” under your agreement with the Payee, not including any grace period that the Payee may provide before the Payee imposes a late fee or similar penalty. The first time you send a payment to a Payee using the Service, it would be helpful if you allow additional time. That would allow the Payee to adjust to the new form of payment.
Delivery of Your Payments. Although you can enter payment information through the Online Services 24 hours a day, 7 days a week, payments can be "initiated" only on business days. Each day, Monday through Saturday, the Bank consolidates all of the bill payments from its customers and performs several editing functions to verify that payment information is correct. The following business day after we submit the payment request, we determine if your payee will accept your payment electronically or if a check needs to be sent. Once this is determined, your payment is sent and the funds are deducted from your Designated Account. Typically the funds are deducted from your Designated Account two business days following the transmission. After funds are withdrawn from your Designated Account, we may remit your payments by mailing your payee a check drawn on an account we maintain for this purpose, by electronic funds transfer, or by other means. Because of the time it takes to transmit your payment to the payee, payees will not receive payment on the Transmit Date (the date you instructed us to deduct the funds from your Designated Account). Therefore, in order to provide sufficient time for payments to be received by your payee, the Transmit Date should be a date at least (5) business days before the actual due date of each bill. We will not be responsible for any loss you may incur as a consequence of late payment if your Transmit Date was not at least five (5) business days prior to the actual due date for a bill. Please remember that the Transmit Date is not the day your payee will receive your payment. It is the day the bill payment process begins. The payment still must be processed and sent by electronic funds transfer or through the mail. Online bill payments are transmitted Monday through Friday, so PLAN AHEAD and please remember weekends and holidays.
Delivery of Your Payments. You may schedule payments on the day that you enter the payment information (a “Same Day Payment”), for a future date (a “Future Payment”), or to be automatically initiated in a fixed amount weekly, biweekly, twice a month, monthly, every four weeks, bimonthly, quarterly, semi-annually or annually (known as a “Recurring Payment”), subject to the restrictions in this Agreement. Although you can generally enter payment information through the Service 24 hours a day, 7 days a week, payments can be "initiated" only on our business days. (See
Delivery of Your Payments. You may schedule for the next business day, on a future date, or on the same date each month, subject to the restrictions in this Agreement. Although you can enter payment information through the Service 24 hours a day, 7 days a week, we can process payments only on BUSINESS days. Should you schedule a payment for a date that falls on a Saturday, Sunday, or holiday, the check will be issued on the preceding Friday or preceding business day. The date that payments are actually issued by us is referred to in this Agreement as the "Transaction Date". After you schedule a payment, we will pay by check or electronic transmission, depending on the Payee. Payments made electronically are credited to your Account within 3-4 BUSINESS days. Payments made by check are mailed to the Payee, and normally credited within five (5) BUSINESS days. To provide sufficient time for payments to be received by your Payees, the Transaction Date for a payment must be at least five (5) BUSINESS days prior to the date your payment is due. We will not be responsible for any loss you incur because of late payment if your Transaction Date is less than five (5) BUSINESS days prior to the Due Date of your payment. First time payments to any Payee MUST be scheduled with a Transaction Date at least five (5) days prior to the Due Date.
Delivery of Your Payments. You may schedule payments to be initiated on the day that you enter the payment information, on a future date, or on the same date each month, subject to the restrictions in this Agreement. Although you can enter payment information through the Service 24 hours a day, 7 days a week, payments can be "initiated" only on business days. Bills cannot be initiated on holidays or weekends. If a scheduled xxxx payment falls on a holiday or weekend, it will be paid on the Friday before the weekend, or the last working day before the holiday. The date on which a payment is "initiated" is the date on which we act on your payment instructions. As you are initiating your payment, the "service" will automatically determine whether your payment will be sent by electronic transmission or by check. In order to send a payment by electronic transmission, your designated payee must be on our service providers list of businesses that are set up to accept electronic transfers. All payments not made by electronic transmission are made with a check to your designated payee. Payments are “processed” one time each business day: at 3:00 p.m. CST. You have the right to stop or change any scheduled xxxx payment until the time it is processed. The following scenarios illustrate Brighton Bank’s xxxx pay schedule: Stop Payments are not guaranteed. Payees may present payments to their bank before the stop payment has been properly processed. Payments that are in process cannot be canceled or stopped. If Brighton Bank is successful in processing a stop payment request, please allow up to seven business days for the funds to be credited to your account.
