Common use of How Payments are Made Clause in Contracts

How Payments are Made. We process all payments you make through ▇▇▇▇ Pay by either sending an electronic transmission to the payee or by mailing a check to the payee, based on the information you have provided to us regarding the payee. Please note: Payees who receive electronic delivery will receive your payment information, including the account number, through a computer link. Electronic payments are generally received and credited by most payees within three business days. All checks drawn on your account are mailed through the U.S. Postal Service. Check payments are generally received and credited by most payees within five to seven business days. You acknowledge that once funds are delivered to the payee, the transaction is non-reversible and nonrefundable to you.