Common use of Scheduling and Delivery of Bill Payments Clause in Contracts

Scheduling and Delivery of Bill Payments. You may choose to add Bill Payment and use your PC to electronically schedule payments with the Service. Payments are posted against your balance available for withdrawal, as defined in the Bank’s Funds Availability Policy. You may schedule payments to be processed on the current business day, on a future date, or on the same date of each month, subject to the restrictions in the Agreement. Although you can enter payment information through the Service twenty-four (24) hours a day, seven (7) days a week, payments can be initiated only on business days. We may remit your payments by mailing your Payee a check, by electronic funds transfer, including ACH (Automated Clearing House) or by other means. If payment is made via ACH the funds will be deducted from your Account on the business day on which a payment is to be processed. This date is referred to in this Agreement as the "Processing Date." If you direct the processing of a payment to occur on a day other than a business day, it will be processed on the previous business day. If payment is made via check the funds will be deducted from your Account when the check is presented to the bank for posting. Because of the time it takes to send your payment to the Payee, your Payees generally will not receive payment on the Transaction Date. This applies regardless of whether the payment is a next-day payment, a future payment, or a recurring payment, as described below. Therefore, in order to provide sufficient time for payments to be received by your Payees, the Processing Date should be at least five (5) days prior to the date your payment is due, excluding any applicable grace periods (the "Due Date"). The Bill Payment offers a calendar that identifies processing dates and subsequent delivery by dates for your convenience. It is helpful if you allow additional time for a payment to be completed the first time you send a payment to a Payee through the Service. This allows the Payee to adjust to the new form of payment. Payments must be scheduled by 4 p.m. (CST) on any business day in order for the payment to be processed for that business day.

Scheduling and Delivery of Bill Payments. You may choose to add Bill Payment and use your PC to electronically schedule payments with the Service. Payments are posted against your balance available for withdrawal, as defined in the Bank’s Funds Availability Policy. You may schedule payments Bill Payments to be processed initiated on the current business day, on a future date, date or on the same date of each month, subject to the restrictions in the Bill Payment Agreement. Although you can enter payment information through the Service twenty-four (24) 24 hours a day, seven (7) 7 days a week, payments can be initiated only on business days. We may remit your payments by mailing your Payee a check, by electronic funds transfer, including ACH (Automated Clearing House) or by other means. If payment is made via ACH the funds Funds will be deducted from your Account on the business day on ·which a payment is to be processed. "initiated." This date is referred to in this Agreement as the "Processing Transaction Date." Funds must be available on the Transaction Date. If you direct the processing initiation of a payment to occur on a day other than a business day, it will be processed initiated on the previous followi ng business day. If payment is made via check You cannot cancel a Bill Payment for any reason once you have submitted the transaction and received a confirmation number, as funds will be are immediately deducted from your Account when the check is presented to the bank for postingdesignated account. After funds are withdrawn from your Account, we may remit your payments by mailing your payee a check, by electronic funds transfer, including ACH, or by other means as appropriate. Because of the time it takes to send your payment to the Payeepayments, your Payees payee will generally will not receive payment on the Transaction Date. This applies regardless of whether the payment is a next-day payment, a future payment, payment or a recurring payment, as described below. Therefore, in order to provide sufficient time for payments Bill Payments to be received by your Payeespayee, the Processing Transaction Date should be at least five (5) 5 business days prior to the date your the payment is due, excluding any applicable grace periods (the "Due Date"). The Bill Payment offers a calendar that identifies processing dates and subsequent delivery by dates for your convenienceperiods. It is helpful if you to allow additional time for a payment to be completed the first time you send a payment is sent to a Payee payee through the Service. This allows the Payee payee to adjust to the new form of payment. Payments must be scheduled by 4 the electronic cut-off of 6:00 p.m. (CST) CST on any business day in order for the payment to be processed initiated for that business day. You agree that we may obtain information regarding your account with any payee in order to facilitate proper handling and crediting of your Bill Payments. We may establish restrictions limiting the number of Bill Payments allowed.