Common use of Payment Instruction Clause in Contracts

Payment Instruction. When you initiate a payment Instruction through Online and Mobile ▇▇▇▇ Pay, you authorize us, or our agent, to withdraw the necessary funds from the specified eligible checking account. The Business Day your payment Instruction will be processed (i.e., the Business Day we debit your account for the payment and initiate or mail the payment) is called the "Withdrawal Date." Because of the time it takes to process and send a payment to a payee, there will be a delay between the Withdrawal Date and the date you schedule the payment to be delivered to the payee ("Delivery Date"). You can obtain an estimate of the number of Business Days it will take to process the payment by looking up the payee on your Payee List (listed as "Days to Deliver"). Add D QHZ SD\HH WR \RXU 3D\HH /oLVW E\ QD provide adequate time for payments to be received by a payee, the date you select as the Delivery Date must be no later than the date your payment is due, excluding any applicable grace periods. The cutoff time for entering a payment Instruction on a Business Day using our system is 11:59 p.m. ET. When a payment Instruction is entered on our system after 11:59 p.m. ET or on a non-Business Day, the Instruction will be considered received on the next Business Day. We reserve the right to change our estimate of the number of Business Days it will take to process the payment for any payee at any time without notice to you. If your Withdrawal Date falls on a non-Business Day, we may adjust the Withdrawal Date to the prior Business Day. Please make sure that your Available Balance is sufficient on the prior Business Day to accommodate such transaction(s). We recommend that you frequently check the processing time estimates on the Payee List for your payees in order for you to be aware of the Withdrawal Date for a payment Instruction. These estimates are for your convenience only and you must schedule your payments as set forth in this section in order to qualify for the payment guarantee in this Agreement. Notwithstanding any other provision of this Agreement, it shall be your responsibility to schedule ▇▇▇▇ payments sufficiently in advance of the payment due date so that the payment can be received and processed by the payee before any such due date. We shall not be responsible for any late fees, interest charges, and penalties imposed by a payee if you did not schedule the payment to allow for the time it takes us to process the payment and for the payee to receive and process the payment. You agree that you will not initiate a payment unless there are, or will be, sufficient available funds in the specified Eligible Account (plus amounts available for transfer or advance from an overdraft protection plan if you have such a plan) on the Withdrawal Date. If you do not have such funds available when we attempt to process the payment to your account on the Withdrawal Date, M&T, in its sole discretion, will either: i. Make the ▇▇▇▇ payment and debit your account on the Withdrawal Date for the full payment amount; or ii. Not make the ▇▇▇▇ payment and not debit your account on the Withdrawal Date and instead try to complete the payment Instruction on the next Business Day. If there are still insufficient funds available at this second attempt, M&T, in its sole discretion, will either (a) cancel the ▇▇▇▇ payment, which means that your payment will not be made; or (b) make the ▇▇▇▇ payment and debit your account for the full payment amount. M&T will notify you via Internal Electronic Messaging, email and/or U.S. mail if your payment does not process on the Withdrawal Date and also if your payment does not process on the second attempt.

Payment Instruction. When you initiate a payment Instruction instruction through Online and Mobile ▇▇▇▇ Commerce Bank HSA Bill Pay, you authorize us, or our agent, to withdraw the necessary funds from your HSA Deposit Account on the specified eligible checking account. The Business Day business day your payment Instruction instruction will be processed (i.e.“Processing Date”). On the Commerce Bank HSA Bill Pay screen, the Business Day we debit your account for the payment and initiate or mail the payment) Processing Date is called the "Withdrawal Datereferred to as “Date to Send." ” Because of the time it takes to process and send a payment to be sent to a payee, there will be a delay between the Withdrawal Processing Date and the date you schedule the payment to be delivered to the payee ("“Delivery Date"”). You can obtain an estimate of the number of Business Days it will take to process the payment by looking up the payee on your Payee List (listed as "Days to Deliver"). Add D QHZ SD\HH WR \RXU 3D\HH /oLVW E\ QD To provide adequate time for payments to be received by a payee, the date you select as the Delivery Date must be no later than at least 5 business days prior to the date your payment is due, excluding any applicable grace periods. The cutoff time If you do not, you will be fully responsible for entering a payment Instruction on a Business Day using our system is 11:59 p.m. ETall finance charges, late fees or actions taken by the payee. When a payment Instruction Payment instruction is entered on our system initiated after 11:59 8:00 p.m. ET or on a non-Business Dayweekends or federal holidays, the Instruction instruction will be considered received on the next Business Daybusiness day. The Commerce Bank HSA Bill Pay Online Instructions will show you the general lead-times (the number of days before your scheduled Delivery Date that the Processing Date will occur) for your payees. We reserve the right to change our estimate of the number of Business Days it will take to process the payment lead-time for any payee at any time without notice to you. If your Withdrawal Date falls on a non-Business Day, we may adjust the Withdrawal Date to the prior Business Day. Please make sure that your Available Balance is sufficient on the prior Business Day to accommodate such transaction(s). We recommend that you frequently check the processing lead-time estimates on the Payee List indicator for your payees in order for you to be aware of accurately determine the Withdrawal Processing Date for a payment Instructioninstruction. These estimates lead-time indicators are for your convenience only and you must schedule your payments as set forth in this section in order to qualify for the payment guarantee recovery described in this Agreement. Notwithstanding any other provision Section 14(a) of this Agreement, it shall be your responsibility to schedule ▇▇▇▇ payments sufficiently in advance of the payment due date so that the payment can be received and processed by the payee before any such due date. We shall not be responsible for any late fees, interest charges, and penalties imposed by a payee if you did not schedule the payment to allow for the time it takes us to process the payment and for the payee to receive and process the payment. You agree that you will not initiate a payment unless there are, or will be, sufficient available funds in the specified Eligible your HSA Deposit Account (plus amounts available for transfer or advance from an overdraft protection plan if you have such a plan) on the Withdrawal Processing Date. If you do not have such funds available when we attempt to process the payment to your account on the Withdrawal Date, M&T, in its sole discretion, will either: i. Make the ▇▇▇▇ payment and debit your account on the Withdrawal Date for the full payment amount; or ii. Not make the ▇▇▇▇ payment and not debit your account on the Withdrawal Date and instead try to complete the payment Instruction on the next Business Day. If there are still insufficient funds available at this second attemptin such account on the Processing Date, M&T, in its sole discretion, will either (a) cancel the ▇▇▇▇ payment, which means that your payment will not be made; or (b) make cancelled. We will send you a payment failure notification at the ▇▇▇▇ payment and debit your account for the full payment amount. M&T will notify you via Internal Electronic Messaging, email and/or U.S. mail if your payment does not process address we have on the Withdrawal Date and also if your payment does not process on the second attemptfile.