Common use of THE BILL PAYING PROCESS Clause in Contracts

THE BILL PAYING PROCESS. Single Payments – a single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment’s processing date, provided the payment is submitted prior to the daily cut-off time on that date. The daily cut-off time, which is controlled by us, is currently 3:00 pm Central Standard Time. 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 certain holidays) as the payment’s processing date, the payment will be processed on the first business day following the designated processing date. Recurring Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non- business date (generally weekends and certain holidays), it is adjusted based upon the following rules: • If the recurring payment‘s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. • If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date. Maximum Total Transactions – Your transactions are limited to a maximum of $20,000 (no one transaction exceeding $10,000) daily without prior authorization from us.

Appears in 1 contract

Samples: onlinebanking.giffordbank.com

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THE BILL PAYING PROCESS. Single Payments – a single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment’s processing process date, provided the payment is submitted prior to the daily cut-off cut­off time on that date. , The daily cut-off cut­off time, which is controlled by usGeauga Credit Union, Inc., is currently 3:00 pm Central Standard TimePM EST. A single payment submitted after the cut-off cut­off time on the designated process date will be processed on the next business day. If you designate a non-business non­business date (generally weekends and certain holidays) as the payment’s processing process date, the payment will be processed on the first business day following the designated processing process date. Recurring Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing process date is calculated for the next occurrence of the payment. If the calculated processing process date is a non- non­ business date (generally weekends and certain holidays), it is adjusted based upon on the following rules: • If the recurring payment‘s payment’s “Pay Before” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date. • If the recurring payment’s “Pay After” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing process date, then the last calendar day of that month is used as the calculated processing process date. Maximum Total Transactions – Your transactions are limited to a maximum of $20,000 (no one transaction exceeding $10,000) daily without prior authorization from us.

Appears in 1 contract

Samples: Bill Paying Agreement

THE BILL PAYING PROCESS. Single Payments – a single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment’s processing process date, provided the payment is submitted prior to the daily cut-off time on that date. The daily cut-off time, which is controlled by usthe Financial Institution, is currently 3:00 2:00 pm Central Standard TimeET. 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 certain holidays) as the payment’s processing process date, the payment will be processed on the first business day following the designated processing process date. Recurring Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing process date is calculated for the next occurrence of the payment. If the calculated processing process date is a non- non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: • If the recurring payment‘s “Pay Before” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date. • If the recurring payment’s “Pay After” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing process date, then the last calendar day of that month is used as the calculated processing process date. Maximum Total Transactions – Your transactions are limited to a maximum of $20,000 (no one transaction exceeding $10,000) daily without prior authorization from us.

Appears in 1 contract

Samples: Web 24 Agreement and Disclosure Policy

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THE BILL PAYING PROCESS. Single Payments – a single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment’s processing date, provided the payment is submitted prior to the daily cut-off time on that date. The daily cut-off time, which is controlled by usthe Financial Institution, is currently 3:00 pm Central Standard TimePM. 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 certain holidays) as the payment’s processing date, the payment will be processed on the first business day following the designated processing date. Recurring Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non- non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment‘s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date. Maximum Total Transactions – Your transactions are limited to a maximum of $20,000 (no one transaction exceeding $10,000) daily without prior authorization from us.

Appears in 1 contract

Samples: Online Banking Agreement and Disclosure

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