Common use of Initiation of Payment Transactions Clause in Contracts

Initiation of Payment Transactions. You may initiate a one-time payment transaction to a Receiver for which processing shall be initiated immediately. It is important to note that you are limited to six (6) preauthorized or automatic transfers or withdrawals from your Money Market Account per monthly statement cycle. Payment transactions initiated to Receivers are processed in two ways. You can provide all the required information about the Receiver, including his/her Eligible Transaction Account, necessary to complete an ACH Network transfer of funds. Alternatively, you can provide contact information about the Receiver (including an email address or mobile telephone number) and the People Pay Service may contact the Receiver and request that the Receiver (i) log in to the People Pay site with the required claim code and provide information so that we may validate the identity of the Receiver and then (ii) the Receiver will provide Eligible Transaction Account information in order to complete the payment transaction (a "Two-Step Transfer"). If the Receiver maintains an Eligible Transaction Account with an institution that participates in the People Pay Service, the Receiver may access the People Pay Service at his or her financial institution's website or mobile application to complete the payment transaction and receive the payment. You understand and agree that when you initiate a payment transaction from an Eligible Transaction Account using the People Pay Service, the processing of the payment transaction will begin and the debiting of your Eligible Transaction Account will occur as early as the day of such initiation. However, the payment funds will be transferred into the Receiver's Eligible Transaction Account no earlier than the next Business Day after you initiated the payment transaction. In addition, in the case of all Two-Step Transfers, the deposit of the payment funds into the Receiver's Eligible Transaction Account (even if debited or withdrawn from your Eligible Transaction Account) may be delayed if the Receiver has not provided the People Pay Service with certain required information such as his or her Eligible Transaction Account information. There are limits on the amount of money you can send or receive through the People Pay Service. These limits may be adjusted from time to time at our sole discretion. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event your Eligible Transaction Account is closed or otherwise unavailable to us. These payment methods may include, but may not be limited to an electronic payment. The limits on the amount of money you can send or receive through the People Pay Service are: Account to Account $50 (daily) / $50 (per transaction) PayPal $50 (daily) / $50 (per transaction) These limits may be adjusted from time to time at our sole discretion. You may log in to the Site to view your individual transaction limits. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event that your Eligible Transaction Account is closed or otherwise unavailable to us. These payment methods may include, but may not be limited to, an electronic payment.

Initiation of Payment Transactions. You may initiate (a) a one-time payment transaction to a Receiver receiver for which processing shall be initiated immediately. It is important , a one-time payment transaction to note that you are limited a receiver for which processing shall be initiated at a later specified date up to six one (61) preauthorized or automatic transfers or withdrawals from your Money Market Account per monthly statement cycleyear, and/or a recurring series of payment transactions to a receiver for which processing shall be initiated on the specified dates. Payment transactions initiated to Receivers receivers are processed in two ways. You can provide all the required information about the Receiverreceiver, including his/her Eligible Transaction Accounttransaction account, necessary to complete an ACH Network transfer of funds. Alternatively, you can provide contact information about the Receiver receiver (including an email address or mobile telephone number) and the People Pay Service person-to- person service may contact the Receiver receiver and request that the Receiver (i) log in to the People Pay site with the required claim code and receiver provide information so that we may validate the identity of the Receiver receiver at the person-to-person website, and then (ii) the Receiver will provide Eligible Transaction Account transaction account information in order to complete the payment transaction. Payment Authorization and Payment Remittance. By providing us with names and telephone numbers, email addresses, and/or account information of receivers to whom you wish to direct payments, you authorize us to follow the transfer Instructions that we receive through the person-to-person service. When we receive a transfer Instruction from you, you authorize us to debit your transaction account and remit funds on your behalf. You also authorize us to credit your transaction account for the receipt of payments, including but not limited to those payments returned to us from receivers to whom you sent payment(s) or cancelled and returned to you because the processing of the payment transaction could not be completed. It is the responsibility of the sender and the receiver to ensure the accuracy of any information or transfer Instructions (a "Two-Step Transfer"including but not limited to the transfer instructions and name, telephone number and/or email address that the sender enters for the receiver to whom you are sending the payment transaction), and for informing us as soon as possible if they become aware that this information is inaccurate. Receiving Payments. If another person wants to send you a payment transaction using the Receiver maintains an Eligible Transaction Account person-to-person service to a checking account you hold with an us, he or she can do that from a transaction account at a financial institution that participates in the People Pay Service, person-to-person service or at the Receiver may access the People Pay Service at his or her financial institution's website or mobile application to complete the payment transaction and receive the paymentperson-to-person website. You understand and agree that when there may be a delay between the time you initiate a are notified of the pending payment transaction from an Eligible Transaction Account using the People Pay Service, the processing of the payment transaction will begin and the debiting of your Eligible Transaction Account will occur as early as the day of such initiation. However, the payment funds will be transferred into the Receiver's Eligible Transaction Account no earlier than the next Business Day after you initiated the payment transaction. In addition, in the case of all Two-Step Transfers, the deposit of the payment funds into the Receiver's Eligible Transaction Account (even if debited or withdrawn from your Eligible Transaction Account) checking account, and you may be delayed if required to take additional steps to facilitate the Receiver has not provided deposit of the People Pay Service with certain required information such as his or her Eligible Transaction Account informationpayment of funds into your transaction account. There are Payment Methods and Amounts. We impose limits on the amount of money funds you can send or receive through the People Pay Servicereceive. These limits may be adjusted from time to time at our sole discretion. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event your Eligible Transaction Account is closed or otherwise unavailable to us. These payment methods may include, but may not be limited to an electronic payment. The limits on the amount of money you can send or receive through the People Pay Service are: Account to Account $50 (daily) / $50 (per transaction) PayPal $50 (daily) / $50 (per transaction) These limits may be adjusted from time to time-to-time at our sole discretion. You may log in to the Site site to view your individual transaction limits. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event that if your Eligible Transaction Account checking account is closed or otherwise unavailable to us. These payment methods may include, include but may not be limited to, an electronic or paper check payment. Receipts and Transaction History. You may view your transaction history by logging into the online banking service and viewing your transaction history. Calls to you. By providing us with a telephone number (including a mobile telephone number), you consent to receiving autodialed and prerecorded message calls and texts from us at that number for non-marketing purposes.

Initiation of Payment Transactions. You may initiate (a) a one-time payment transaction to a Receiver for which processing shall be initiated immediately. It is important , or (b) a recurring series of payment transactions to note that you are limited to six (6) preauthorized or automatic transfers or withdrawals from your Money Market Account per monthly statement cyclea Receiver for which processing shall be initiated on the specified dates. Payment transactions initiated to Receivers are processed in two ways. You can provide all the required information about the Receiver, including his/her Eligible Transaction Account, necessary to complete an ACH Network transfer of funds. Alternatively, you can provide contact information about the Receiver (including an email address or mobile telephone number) and the People Pay Person-to-Person Service may contact the Receiver and request that the Receiver (i) log in to the People Pay site with the required claim code and provide information so that we may validate the identity of the Receiver at the Person-to-Person Website and then (ii) the Receiver will provide Eligible Transaction Account information in order to complete the payment transaction. Payment Authorization and Payment Remittance. By providing us with names and telephone numbers, email addresses, and/or account information of Receivers to whom you wish to direct payments, you authorize us to follow the Transfer Instructions that we receive through the Pay a Person Service. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf. You also authorize us to credit your Transaction Account for the receipt of payments, including but not limited to those payments returned to us from Receivers to whom you sent payment(s) or cancelled and returned to you because the processing of the payment transaction could not be completed. It is the responsibility of the Sender and the Receiver to ensure the accuracy of any information or Transfer Instructions (a "Two-Step Transfer"including but not limited to the Transfer Instructions and name, telephone number and/or email address that the Sender enters for the Receiver to whom you are sending the payment transaction), and for informing us as soon as possible if they become aware that this information is inaccurate. Receiving Payments. If another person wants to send you a payment transaction using the Receiver maintains an Eligible Person-to-Person Service to a Transaction Account you hold with an us, he or she can do that from a Transaction Account at a financial institution that participates in the People Pay Service, Person-to-Person Service or at the Receiver may access the People Pay Service at his or her financial institution's website or mobile application to complete the payment transaction and receive the paymentPerson-to-Person Website. You understand and agree that when there may be a delay between the time you initiate a are notified of the pending payment transaction from an Eligible Transaction Account using the People Pay Service, the processing of the payment transaction will begin and the debiting of your Eligible Transaction Account will occur as early as the day of such initiation. However, the payment funds will be transferred into the Receiver's Eligible Transaction Account no earlier than the next Business Day after you initiated the payment transaction. In addition, in the case of all Two-Step Transfers, the deposit of the payment funds into the Receiver's Eligible Transaction Account (even if debited or withdrawn from your Eligible Transaction Account) , and you may be delayed if required to take additional steps to facilitate the Receiver has not provided deposit of the People Pay Service with certain required information such as his or her Eligible payment of funds into your Transaction Account informationAccount. There are Payment Methods and Amounts. We impose limits on the amount of money funds you can send or receive through the People Pay Servicereceive. These limits may be adjusted from time to time at our sole discretion. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event your Eligible Transaction Account is closed or otherwise unavailable to us. These payment methods may include, but may not be limited to an electronic payment. The limits on the amount of money you can send or receive through the People Pay Service are: Account to Account $50 (daily) / $50 (per transaction) PayPal $50 (daily) / $50 (per transaction) These limits may be adjusted from time to time-to-time at our sole discretion. You may log in to the Site to view your individual transaction limits. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event that your Eligible Transaction Account is closed or otherwise unavailable to us. These payment methods may include, but may not be limited to, an electronic paymentor paper check payment Calls to You. By providing us with a telephone number (including a wireless/cellular, mobile telephone number), you consent to receiving autodialed and prerecorded message calls from us at that number for non- marketing purposes.