Common use of PAYEE DESIGNATION Clause in Contracts

PAYEE DESIGNATION. You can use the Bill Pay Service to make payments to almost any Payee you want including individuals, local service providers, utilities, credit cards, or to make mortgage or loan payments, or charitable donations, etc. To make payments, a list of payees must be added to your personal Merchant Accounts list that includes the payee’s/ merchant’s name, address, phone number and your account number with the merchant. A merchant is defined as anybody (company or individual) to whom you want to send money. You may also give the merchant a “User Specified Account Name”, which is only for your use and is not provided to the merchant. By furnishing us with the names of your Payees (merchants and/or individuals) and their addresses, you give us authorization to follow the payment instructions, which you provide to us. When we receive a payment instruction for the current date or a future date, we will remit the funds to the Payee on your behalf from the funds in your designated account, on the day you have instructed them to be sent (Payment Date). We are not obligated to pay funds from your account if the available account balance is insufficient to cover the payment, unless your account has overdraft protection in an amount sufficient to cover the payment. Funds for ALL bill payments, whether paid electronically or by check, will be withdrawn on the day the payment is scheduled to be SENT to the Payee. To add a merchant to your Merchant Accounts list, go to the Merchant Accounts screen and click the “Add Merchant” button. Key the Merchant’s information into the appropriate fields, make sure that all information is correct and click “OK”. We are not responsible if a payment cannot be made due to incomplete, incorrect, or outdated information provided by you regarding a merchant, or if you attempt to pay a merchant that is not on your Merchant Accounts list. We reserve the right to refuse the designation of a merchant for any reason. Please set up (designate) Merchants in accordance with the following guidelines:  The Merchant must be located in the United States;  Payments may not be remitted to tax authorities or government and collection agencies;  Payments may not be remitted to security companies such as Ameritrade for stock purchases or trade taxing authorities; and  Court directed payments are not permitted (e.g. alimony, child support, or other legal debts).

PAYEE DESIGNATION. You can use the Bill Pay Service to make payments Payments to almost any Payee you want including individuals, local service providers, utilities, credit cards, or to make mortgage or loan paymentsPayments, or charitable donations, etc. To make paymentsPayments, a list of payees Payees must be added to your personal Merchant Accounts list that includes the payee’s/ merchantPayee’s/ Merchant’s name, address, phone number and your account Account number with the merchantMerchant. A merchant Merchant is defined as anybody (company or individual) to whom you want to send money. You may also give the merchant Merchant a “User Specified Account Name”, which is only for your use and is not provided to the merchantMerchant. By furnishing us with the names of your Payees (merchants Merchants and/or individuals) and their addresses, you give us authorization to follow the payment Payment instructions, which you provide to us. When we receive a payment Payment instruction for the current date or a future date, we will remit the funds to the Payee on your behalf from the funds in your designated account, on the day you have instructed them to be sent (Payment Date)Account. We are not obligated to pay funds from your account Account if the available account Account balance is insufficient to cover the paymentPayment, unless your account Account has overdraft protection in an amount sufficient to cover the payment. Funds for ALL bill payments, whether paid electronically or by check, will be withdrawn on the day the payment is scheduled to be SENT to the PayeePayment. To add a merchant Merchant to your Merchant Accounts list, go to the Merchant Accounts screen and click the “Add Merchant” button. Key the Merchant’s information into the appropriate fields, make sure that all information is correct and click “OK”. We are not responsible if a payment Payment cannot be made due to incomplete, incorrect, or outdated information provided by you regarding a merchantMerchant, or if you attempt to pay a merchant that is not on your Merchant Accounts list. We reserve the right to refuse the designation of a merchant Merchant for any reason. Please set up (designate) Merchants in accordance with the following guidelines:  • The Merchant must be located in the United States;  • Payments may not be remitted to tax authorities or government and collection agencies;  • Payments may not be remitted to security companies such as Ameritrade for stock purchases or trade taxing authorities; and  • Court directed payments are not permitted (e.g. e.g., alimony, child support, or other legal debts).