Common use of THE BILL PAYING PROCESS Clause in Contracts

THE BILL PAYING PROCESS. The Financial Institution will process variable payments on the business day (generally Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Financial Institution, which is currently 3:00PM (CHST). Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Financial Institution reserves its right to change the cut-off time by giving you notice if it changes. FOR RECURRING PAYMENT REQUESTS, IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH THE 31ST OF A MONTH, YOU MUST SELECT THE OPTION OF "LAST BUSINESS DAY" FOR PROCESSING TO BE ALWAYS BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non- business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT. (IT IS THE RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS) Due to circumstances beyond our control, some Merchants take longer to post payments than others. We suggest sending your first payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Merchant. You must select a Payment Date that is at least five (5) business days before the actual Due Date reflected on your Payee statement. If your actual Due Date falls on a non-business day you must select a Payment Date that is at least one business day before the actual Due Date. Payment Dates should be prior to any late date or grace period. When you have scheduled a payment, you authorize the Financial Institution to debit your Payment Account and remit funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments from using the Bill Pay Service. The Bill Pay Service will incur no liability and a Service Guarantee shall be void if the Bill Pay Service is unable to complete any payments initiated because of any of the following:

THE BILL PAYING PROCESS. The Financial Institution will process variable payments on the business day (generally Monday through Friday, except federal banking holidays) you designate the bill payment is to be processed, provided the payment request is received prior to the cut-off time set by the Financial Institution, which is currently 3:00PM 2:00 PM (CHSTEastern Time). Variable bill payment requests received after the business day cut off time, or at any time on a non-business day day, will be processed on the next business day. The Financial Institution reserves its right to change the cut-off time by giving you reasonable advance notice if it changesto you. FOR IF A RECURRING PAYMENT REQUESTSFALLS ON A NON-BUSINESS DAY (SUCH AS WEEKENDS OR FEDERAL BANKING HOLIDAYS), IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH PAYMENT SHALL BE PROCESSED ON THE 31ST OF A MONTH, YOU MUST SELECT THE OPTION OF "LAST PRECEDING BUSINESS DAY" FOR PROCESSING TO BE ALWAYS BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non- business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, DAYS PRIOR TO THE DUE DATE APPEARING ON YOUR STATEMENT/INVOICE (THE “DUE DATE, ”) FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT. (IT IS THE YOUR RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS) PAYMENTS ACCORDINGLY. Due to circumstances beyond our control, some Merchants take longer to post payments than others. We strongly suggest sending your first payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Merchant. You must select a “Payment Date Date” that is at least five (5) business days before the actual Due Date reflected on your Payee statement. If your actual Due Date falls on a non-business day day, you must select a Payment Date that is at least one business day before the actual Due Date. Payment Dates should be prior determined without consideration to any permissible late date or grace periodperiod agreed upon between you and Merchant. When you have scheduled a payment, you authorize the Financial Institution to debit your eligible account (the “Payment Account Account”) and remit such funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments arising from your using of the Bill Pay ServicePayment service. The Bill Pay Service will incur no liability and a Service Guarantee Institution shall not be void liable if the Bill Pay Service Institution is unable to complete any payments initiated through the Bill Payment service because of the existence of any one or more of the followingfollowing circumstances:

THE BILL PAYING PROCESS. The Financial Institution will process variable payments on the business day (generally Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Financial Institution, which is currently 3:00PM 2:00 PM (CHSTEastern Time). Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Financial Institution reserves its right to change the cut-off time by giving you notice if it changes. FOR IF A RECURRING PAYMENT REQUESTSFALLS ON A NON-BUSINESS DAY (SUCH AS WEEKENDS OR FEDERAL HOLIDAYS), IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH PAYMENT IS PROCESSED ON THE 31ST OF A MONTH, YOU MUST SELECT THE OPTION OF "LAST PRECEDING BUSINESS DAY" FOR PROCESSING TO BE ALWAYS BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non- business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT. (IT IS THE RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS) Due to circumstances beyond our control, some Merchants take longer to post payments than others. We suggest sending your first payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Merchant. You must select a Payment Date that is at least five (5) business days before the actual Due Date reflected on your Payee statement. If your actual Due Date falls on a non-business day you must select a Payment Date that is at least one business day before the actual Due Date. Payment Dates should be prior to any late date or grace period. When you have scheduled a payment, you authorize the Financial Institution to debit your Payment Account and remit funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments from using the Bill Pay Service. The Bill Pay Service will incur no liability and a Service Guarantee shall be void if the Bill Pay Service is unable to complete any payments initiated because of any of the following:

THE BILL PAYING PROCESS. The Financial Institution will process variable payments on the business day (generally Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Financial Institution, which is currently 3:00PM (CHST)4:00 p.m. PST. Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Financial Institution reserves its right to change the cut-off time by giving you notice if it changes. FOR RECURRING PAYMENT REQUESTS, IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH THE 31ST OF A MONTH, YOU MUST SELECT THE OPTION OF "LAST BUSINESS DAY" FOR PROCESSING TO BE ALWAYS BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non- non-business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT. (IT IS THE RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS) Due to circumstances beyond our control, some Merchants take longer to post payments than others. We suggest sending your first payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Merchant. You must select a Payment Date that is at least five (5) business days before the actual Due Date reflected on your Payee statement. If your actual Due Date falls on a non-business day you must select a Payment Date that is at least one business day before the actual Due Date. Payment Dates should be prior to any late date or grace period. The Bill Payment Service will bear responsibility for any late payment related charges up to $50.00 should a Bill Payment post after its Due Date, as long as the Bill Payment was scheduled in accordance with the guidelines described under "The Bill Paying Process" in this Agreement. When you have scheduled a payment, you authorize the Financial Institution to debit your Payment Account and remit funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments from using the Bill Pay Service. The Bill Pay Service will incur no liability and a Service Guarantee shall be void if the Bill Pay Service is unable to complete any payments initiated because of any of the following:

THE BILL PAYING PROCESS. The Financial Institution Sound Federal Credit Union will process variable payments on the business day (generally Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Financial InstitutionSound Federal Credit Union, which is currently 3:00PM (CHST)4:00 p.m. EST. Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Financial Institution Sound Federal Credit Union reserves its right to change the cut-off time by giving you notice if it changes. FOR RECURRING PAYMENT REQUESTS, IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH THE 31ST OF A MONTH, YOU MUST SELECT THE OPTION OF "LAST BUSINESS DAY" FOR PROCESSING TO BE ALWAYS WILL BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non- non-business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT. (IT IS THE RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS) Due PAYMENTS You agree to circumstances beyond our controlhave available and collected funds on deposit in the account you designate in amounts sufficient to pay for all Bill Payments requested, some Merchants take longer as well as, any other payment obligations you have to post payments than othersthe Sound Federal Credit Union. We suggest sending your first The Sound Federal Credit Union reserves the right, without liability, to reject or reverse a Bill Payment if you fail to comply with this requirement or any other terms of this agreement. If you do not have sufficient funds in the Account and the Sound Federal Credit Union has not exercised its right to reverse or reject a Bill Payment, you agree to pay for such payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Merchantobligations on demand. You must select a further agree the Sound Federal Credit Union, at its option, may charge any of your accounts with the Sound Federal Credit Union to cover such payment obligations. Any Bill Payment Date that is at least five (5) business days before can be changed or canceled, provided you access the actual Due Date reflected Service prior to the cut-off time on your Payee statement. If your actual Due Date falls on a non-the business day you must select a Payment Date that is at least one prior to the business day before the actual Due Date. Payment Dates should be prior to any late date or grace period. When you have scheduled a payment, you authorize the Financial Institution to debit your Payment Account and remit funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments from using the Bill Pay Service. The Bill Pay Service will incur no liability and a Service Guarantee shall Payment is going to be void if the Bill Pay Service is unable to complete any payments initiated because of any of the following:initiated.