Insufficient Funds; Failed Payments. If there are insufficient funds in your Payment Account to complete a Payment transaction you have initiated, we may either refuse to process the transaction or complete the transaction, with or without overdrawing the Payment Account, in our sole and absolute discretion. Subject to the requirements of applicable law, you are responsible for the amount of any Payment transaction we complete on your behalf, as well as applicable fees and charges, whether or not your Payment Account becomes overdrawn. Our election to execute any Payment transaction if or when you have insufficient funds in your Payment Account to cover such transaction in no way obligates us to execute any other Payment transaction if or when you have insufficient funds. You further agree that: (i) Upon demand, you will reimburse us immediately in the amount of any Payment transaction that we have executed on your behalf; (ii) We may make repeated attempts in our discretion to debit your Payment Account for the amount of any Payment transaction that we execute on your behalf, including, but not limited to, debit by ACH transaction; (iii) If we complete a Payment transaction on your behalf and you do not have sufficient funds in your Payment Account to cover such transaction, (x) we may assess our standard paid overdraft item/returned item fee, as in effect and disclosed in our pricing schedules at such time, against your Payment Account, whether or not we overdraw your Payment Account, and/or (y) we may cancel, suspend, or limit your use of the Bill Pay Service and/or your Payment Account without notice, and/or exercise any other rights or remedies available to us; (iv) You will reimburse us for any fees or costs we incur in attempting to collect the amount of any executed Payment transaction from you to the fullest extent allowed by law; and (v) We are authorized to report the facts concerning the collection or recovery of any Payment transaction to any credit or consumer reporting agency.
Appears in 5 contracts
Samples: Agreement and Disclosure Statement for Electronic Banking Services, Agreement and Disclosure Statement for Electronic Banking Services, Agreement and Disclosure Statement for Electronic Banking Services
Insufficient Funds; Failed Payments. If there are insufficient funds in your Payment applicable Service Account to complete a Payment payment transaction you have initiated, we may either refuse to process the transaction or complete the transaction, with or without overdrawing the Payment Service Account, in our sole and absolute discretion. Subject to the requirements of applicable law, you are responsible for the amount of any Payment payment transaction we complete on your behalf, as well as applicable fees and charges, whether or not your Payment Service Account becomes overdrawn. Our election to execute any Payment payment transaction if or when you have insufficient funds in your Payment Service Account to cover such transaction in no way obligates us to execute any other Payment payment transaction if or when you have insufficient funds. You further agree that:
(i) Upon demand, you will reimburse us immediately in the amount of any Payment payment transaction that we have executed on your behalf;
(ii) We may make repeated attempts in our discretion to debit your Payment Service Account for the amount of any Payment payment transaction that we execute on your behalf, including, but not limited to, debit by ACH transaction;
(iii) If we complete a Payment payment transaction on your behalf and you do not have sufficient funds in your Payment Service Account to cover such transaction, (x) we may assess our standard paid overdraft item/returned item fee, as in effect and disclosed in our pricing schedules at such time, against your Payment Service Account, whether or not we overdraw your Payment Service Account, and/or (y) we may cancel, suspend, or limit your use of the Bill Personal Pay Service and/or your Payment Service Account without notice, and/or exercise any other rights or remedies available to us;
(iv) You will reimburse us for any fees or costs we incur in attempting to collect the amount of any executed Payment payment transaction from you to the fullest extent allowed by law; and
(v) We are authorized to report the facts concerning the collection or recovery of any Payment payment transaction to any credit or consumer reporting agency. If you are notified that you have received or will receive a payment from a Sender and such payment is not completed through the Personal Pay Service due to insufficient funds in the Sender's account or other action on the part of such Sender (such as payment cancellation or failure to provide accurate or complete information), you acknowledge and agree that we will in no way be liable to you with respect to the failure of such payment, and you agree to look solely to the Sender for the resolution of such payment failure. If you have a dispute with any other user of the Personal Pay Service, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such dispute.
Appears in 1 contract
Samples: Agreement and Disclosure Statement for Electronic Banking Services
