Payment Funding, Fees, and Settlement. Prior to submission by the User of an Expedited Payment Service request, we are responsible for authenticating Users and their associated funding accounts. Electronic payments funded from your checking account will be initiated as soon as possible, utilizing the ACH for funds clearing. Expedited Payment Service overnight check payments will be initiated in a “direct check” model, and as such will settle on your account based on the paper check being presented for payment by the payee. We agree to authorize “direct check” transactions on behalf of your Expedited Payment Service overnight check request. A convenience fee for overnight check payments and for electronic payments will be billed to your checking or loan account the same day as the payment but as a separate transaction. See our Fee Schedule for fees that may apply to your account. If for any reason, sufficient funds are not available in your checking and/or loan account, your account will be blocked from further use of the Expedited Payment Service and we will attempt to collect payment through various means including debit retry and reversing the payment. If funds are collected and no additional debit returns have been received after 5 business days, your Expedited Payment Services will be unblocked.
Payment Funding, Fees, and Settlement. Prior to submission by the End User of an Expedited Payment request to Metavante, Customer is responsible for authenticating End Users and their associated funding account information. Electronic payments funded from an End User’s DDA will be initiated as soon as possible, utilizing the ACH for funds clearing. If Customer chooses to implement a “direct check” model, Customer agrees to authorize Metavante to initiate “direct check” transactions on behalf of End Users requesting overnight check Expedited Payments. Subject to the specifications of the Customer, the End User may incur fees for some or all types of Expedited Payments. Fees will be collected directly from the End User on behalf of the Customer as a separate transaction to the End User’s DDA, and will be initialed upon receipt of the Expedited Payment request. If a convenience fee is returned to Metavante, and Metavante is unable to retrieve the convenience fee from End User, the Customer is solely responsible for further collection of fees from End User. Metavante will settle with Customer on a monthly basis for the total of Expedited Payment convenience fees collected throughout the month. If Metavante has settled with Customer for a convenience fee which was later determined to be uncollectible, Customer will reimburse Metavante. Metavante will complete the Expedited Payment requests in accordance with the delivery date provided to the End User or Customer by Metavante. In the event that an Expedited Payment processed by Metavante is past due, the Late Fee Responsibility Schedule will apply.
