Common use of Single Payments Clause in Contracts

Single Payments. A single payment will be processed on the business day that you designate as the payment process date, provided the payment is submitted prior to the daily cut-off time. The daily cut-off time is currently 2:00 pm Eastern. A single payment submitted after the cut-off time on the designated process date will be processed on the next business day. If you designate a non-business date (generally weekends and holidays) as the payment process date, the payment will be processed on the first business day following the designated process date. Recurring Payments: When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency setting for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business day, it is adjusted based upon the following rules:  If the recurring payment “Pay Before” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date.  If the recurring payment “Pay After” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.  If the frequency settings for the recurring payment specify the 29th, 30th or 31st as the process date and that day does not exist in the month of the calculated process date, the last calendar day of the month is used as the calculated process date.

Single Payments. A single payment will be processed on the business day that you designate as the payment process date, provided the payment is submitted prior to the daily cut-off time. The daily cut-off time is currently 2:00 pm Eastern. A single payment submitted after the cut-off time on the designated process date will be processed on the next business day. If you designate a non-business date (generally weekends and holidays) as the payment process date, the payment will be processed on the first business day following the designated process date. Recurring Payments: When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency setting for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business day, it is adjusted based upon the following rules:  • If the recurring payment “Pay Before” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date.  • If the recurring payment “Pay After” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.  • If the frequency settings for the recurring payment specify the 29th, 30th or 31st as the process date and that day does not exist in the month of the calculated process date, the last calendar day of the month is used as the calculated process date.

Single Payments. A a single payment will be processed on the business day (generally Monday through Friday, except certain federal holidays) that you designate as the payment payment’s process date, provided the payment is submitted prior to the daily cut-off timetime on that date. The daily cut-off time time, which is controlled by Community Choice Credit Union, is currently 2:00 pm Eastern4:00p.m. A single payment submitted after We reserve the right to change the cut-off time on the designated process date time. You will be processed on the next business day. If you designate a non-business date (generally weekends and holidays) as the payment process date, the payment will be processed on the first business day following the designated process datereceive notice if it changes. Recurring Payments: Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency setting settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business daydate (generally weekends and certain holidays), it is adjusted based upon the following rules:  • If the recurring payment payment‘s “Pay Before” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date.  • If the recurring payment payment’s “Pay After” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.  Note: If the your frequency settings for the recurring payment specify the 29th, 30th 30th, or 31st as a particular day of the process date month for processing and that day does not exist in the month of the calculated process date, then the last calendar day of the that month is used as the calculated process date.