Common use of Expedited Xxxx Payment Clause in Contracts

Expedited Xxxx Payment. Expedited Xxxx Payment allows you to make a next day xxxx payment to certain payees either electronically (“Expedited Electronic Xxxx Payment”) or by overnight check (“Expedited Xxxx Payment by Overnight Check”). The type of expedited payment available for each payee will be displayed on the Expedited Payment screen for the selected payee. You are responsible for ensuring there are sufficient available funds in the Funding Account to cover the full amount of the payment when the payment is debited, which may not occur for up to two business days from the date you request the payment. See the schedule of Personal Deposit Account Fees for the insufficient funds service fees that will be charged to your Funding Account for transactions presented against insufficient funds. Stop payments cannot be placed on Expedited Xxxx Payments. Expedited Electronic Xxxx Payments must be requested by a certain cut-off time each day. These times vary by payee and are determined by the payee. Expedited Electronic Xxxx Payment will not be listed as an option for a payee if you are requesting a payment after that payee’s cut-off time for the day. Expedited Xxxx Payments by Overnight Check must be ordered before 7:45 pm Eastern Time. Overnight Checks can only be sent to valid street addresses in the continental United States; no check can be sent to a post office box or outside of the continental United States. Checks will be sent by a commercial overnight delivery service; the time of delivery will be dependent upon the delivery service.