Common use of Authorized Payments Clause in Contracts

Authorized Payments. When you transmit Bill Pay instruction to us, you authorize us to transfer funds to make the Bill Pay transaction from your Checking Account. We will have no obligation to initiate any payment if there are not sufficient funds in your designated account, but may in our discretion do so pursuant to any applicable overdraft agreements. Refer to the Fee Schedule for any applicable fee(s) on Non-sufficient Funds or Courtesy Pay items. We will process Bill Pay transfer requests only to those payees you have authorized and for whom the Credit Union has proper payee information. In any event, the Credit Union will not be liable for any loss, cost or damage related to any transaction that contains incorrect information that the Credit Union was not responsible for entering or knowing. The Credit Union reserves the right to refuse to process payment instructions that reasonably appears to the Credit Union to be fraudulent or erroneous. You or any persons who you have authorized to use your online banking Username and Password can perform the following transactions: o Pay any designated merchant institution or individual in accordance with this agreement a fixed recurring amount or a variable amount on a one-time payment from your Checking Account. o Obtain information (payee information, payment status information, etc.) about your Bill Pay account status. o Bill Pay Transactions. You authorize us to process bill payments from your Checking Account. You may use the Bill Pay service to initiate two different types of payment transactions:  "One-Time" payments are payments that are not reoccurring. The payments can be canceled or changed through online banking up until our Cutoff Time of 8:30 p.m. Mountain Standard Time (MST) on the Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.  "Recurring" payments are payments that are reoccurring on a fixed interval and fixed amount. You have an option in online banking to set Automatic Payments to continue for a specific number of payments. The payment can be canceled or changed through online banking up until our Cutoff Time and Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.

Authorized Payments. When you transmit Bill Pay a ▇▇▇▇ payment instruction to us, you authorize us to transfer funds to make the Bill Pay ▇▇▇▇ payment transaction from your Checking Account. We will have no obligation to initiate any payment if there are not sufficient funds in your designated account, but may in our discretion do so pursuant to any applicable overdraft agreements. Refer to the Fee Schedule for any applicable fee(s) on Non-sufficient Funds or Courtesy Pay items. We will process Bill Pay transfer requests only to those payees you have authorized and for whom the Ventura County Credit Union has proper payee informationchecking account. The Credit Union will not process any ▇▇▇▇ payment transfer if we know the required transaction information is incomplete. In any event, the Credit Union will not be liable for any loss, cost or damage related to any transaction that contains incorrect information that the Credit Union was not responsible for entering entering. We will process ▇▇▇▇ payment transfer requests only to those payees as you authorize. If there are insufficient funds in your account to make the ▇▇▇▇ payment request, we may refuse to make the payment, make the payment and transfer funds from any overdraft protection account you have established, or knowingmake the payment and thereby overdraw the payment account. Should you have non-sufficient funds available in your payment account, we will notify you in the same manner as other non-sufficient fund transactions. In the event that you have insufficient funds in your ▇▇▇▇ payment account to make the ▇▇▇▇ payment request, you are responsible for any non-sufficient funds (“NSF”) or overdraft charges the Credit Union may impose. You are also responsible for any NSF, finance charges, and/or late fees imposed by the ▇▇▇▇ payment provider and/or the merchant(s) you intended to pay with your ▇▇▇▇ payment account. The Credit Union reserves the right to refuse to process payment instructions that reasonably appears appear to the Credit Union to be fraudulent or erroneous. You • Processing Payments. ▇▇▇▇ payments are processed on our business days, which are Monday through Friday excluding holidays. ▇▇▇▇ payments are delivered to the payee either electronically, which may take up to three business days from the Scheduled Process Date, or any persons who you have authorized by check to use those payees not set up to accept electronic payments, which may take up to five business days to reach the payee. It is your online banking Username and Password can perform the following transactions: o Pay any designated merchant institution or individual responsibility to schedule your ▇▇▇▇ payments in accordance with this agreement such a fixed recurring amount or a variable amount manner that your obligation will be paid on a one-time payment from your Checking Account. o Obtain information (payee information, payment status information, etc.) about your Bill Pay account status. o Bill Pay Transactionstime. You authorize us to process bill payments from should enter and transmit your Checking Account. You may use the Bill Pay service to initiate two different types of ▇▇▇▇ payment transactions:  "One-Time" payments are payments that are not reoccurring. The payments can be canceled or changed through online banking up until our Cutoff Time of 8:30 p.m. Mountain Standard Time (MST) on the Cutoff Date prior to processing the payment, which is instructions at least five (5) business days before a ▇▇▇▇ is due. If you do not allow sufficient time, you assume full responsibility for paper check requests any late payments or three (3) business days for finance charges that may be imposed as a result of your failure to transmit a timely ▇▇▇▇ payment authorization. For electronic payments, the amount of your requested ▇▇▇▇ payments will be debited from your account on the Scheduled Payment Date and credited to the ▇▇▇▇ payee on the same day.  "Recurring" For non electronic payments, checks are printed on the Processing Date and mailed to the ▇▇▇▇ payee on the following day. The earliest possible Scheduled Payment Date for each payee will be designated within ▇▇▇▇ Pay when you are scheduling a payment. Therefore you will not be allowed to select a Scheduled Payment Date less than the earliest possible Scheduled Payment Date designated for each payee. When scheduling payments are payments you must select a Scheduled Payment Date that are reoccurring is no later than the actual Due Date reflected on your Billing Statement unless the Due Date falls on a fixed interval and fixed amountnon- business day. If the actual Due Date falls on a non-business day, you must select a Scheduled Payment Date that is least one (1) Business Day before the actual Due Date. Scheduled Payment Dates must be prior to any late date or grace period. You will receive a confirmation number at the time of each transaction. Therefore, you must have an option in online banking sufficient funds available to set Automatic Payments to continue for a specific number of payments. The cover your payment can be canceled or changed through online banking up until our Cutoff Time and Cutoff Date prior to processing on the payment, which is five (5) business days for paper check requests or three (3) business days for electronic paymentsScheduled Initiation Date.

Authorized Payments. When you transmit Bill ▇▇▇▇ Pay instruction to us, you authorize us to transfer funds to make the Bill ▇▇▇▇ Pay transaction from your Checking Account. We will have no obligation to initiate any payment if there are not sufficient funds in your designated account, but may in our discretion do so pursuant to any applicable overdraft agreements. Refer to the Fee Schedule for any applicable fee(s) on Non-sufficient Funds or Courtesy Pay items. We will process Bill ▇▇▇▇ Pay transfer requests only to those payees you have authorized and for whom the Credit Union has proper payee information. In any event, the Credit Union will not be liable for any loss, cost or damage related to any transaction that contains incorrect information that the Credit Union was not responsible for entering or knowing. The Credit Union reserves the right to refuse to process payment instructions that reasonably appears to the Credit Union to be fraudulent or erroneous. You or any persons who you have authorized to use your online banking Username and Password can perform the following transactions: o Pay any designated merchant institution or individual in accordance with this agreement a fixed recurring amount or a variable amount on a one-time payment from your Checking Account. o Obtain information (payee information, payment status information, etc.) about your Bill ▇▇▇▇ Pay account status. o Bill ▇▇▇▇ Pay Transactions. You authorize us to process bill ▇▇▇▇ payments from your Checking Account. You may use the Bill ▇▇▇▇ Pay service to initiate two different types of payment transactions:  "One-Time" payments are payments that are not reoccurring. The payments can be canceled or changed through online banking up until our Cutoff Time of 8:30 p.m. Mountain Standard Time (MST) on the Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.  "Recurring" payments are payments that are reoccurring on a fixed interval and fixed amount. You have an option in online banking to set Automatic Payments to continue for a specific number of payments. The payment can be canceled or changed through online banking up until our Cutoff Time and Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.

Authorized Payments. When you transmit Bill ▇▇▇▇ Pay instruction to us, you authorize us to transfer funds to make the Bill ▇▇▇▇ Pay transaction from your Checking Account. We will have no obligation to initiate any payment if there are not sufficient funds in your designated account, but may in our discretion do so pursuant to any applicable overdraft agreements. Refer to the Fee Schedule for any applicable fee(s) on Non-sufficient Funds or Courtesy Pay items. We will process Bill ▇▇▇▇ Pay transfer requests only to those payees you have authorized and for whom the Credit Union has proper payee information. In any event, the Credit Union will not be liable for any loss, cost or damage related to any transaction that contains incorrect information that the Credit Union was not responsible for entering or knowing. The Credit Union reserves the right to refuse to process payment instructions that reasonably appears to the Credit Union to be fraudulent or erroneous. You or any persons who you have authorized to use your online banking Username and Password can perform the following transactions: o Pay any designated merchant institution or individual in accordance with this agreement a fixed recurring amount or a variable amount on a one-time payment from your Checking Account. o Obtain information (payee information, payment status information, etc.) about your Bill ▇▇▇▇ Pay account status. o Bill ▇▇▇▇ Pay Transactions. You authorize us to process bill ▇▇▇▇ payments from your Checking Account. You may use the Bill ▇▇▇▇ Pay service to initiate two different types of payment transactions:  "One-Time" payments are payments that are not reoccurring. The payments can be canceled or changed through online banking up until our Cutoff Time of 8:30 p.m. Mountain Standard Time (MST) on the Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.  "Recurring" payments are payments that are reoccurring on a fixed interval and fixed amount. You have an option in online banking to set Automatic Payments to continue for a specific number of payments. The payment can be canceled or changed through online banking up until our Cutoff Time and Cutoff Date prior to processing the payment, which is five (5) business days for paper check requests or three (3) business days for electronic payments.