Common use of Processing Payments Clause in Contracts

Processing Payments. Bill Pay payments are delivered to the payee either electronically, or by paper check to those payees not set up to accept electronic payments. Funds for electronic and paper check payments will be withdrawn from your account one (1) to two (2) business days after the specified Send On Date. Due to the processing systems for electronic transactions used in the United States and by us, a payment or other transaction may be effective / posted before we are open for business on the processing date for the payment or other transaction. Therefore, you are responsible for insuring that your account(s) have sufficient balances as applicable for the scheduled payment / transaction one business day prior to the process date. If a payment is due on a Saturday, Sunday, or Federal holiday, the process date will be adjusted to allow the minimum required business days, which is three (3) business days for electronic payments or five (5) business days for paper check payments. In these cases, you should plan to have a sufficient balance on the last business day before the process date in order to ensure your payment is made on time. For merchants not set up to accept electronic payments, a paper check will be issued five (5) business days prior to the due date and the funds withdrawn from your account upon presentment of the check for payment. It is your responsibility to schedule your payments in such a manner that your obligations will be paid on time. You should enter all Bill Pay instructions before the Cutoff Time (8:30 p.m. MST) and allow sufficient delivery time. Payment instructions entered after the Cutoff Time or on a weekend or holiday will be processed on the next business day. If you do not allow sufficient time, you assume full responsibility for any late payments, finance charges or service fees that may be imposed as a result of your failure to transmit a timely Bill Pay authorization. The minimum dollar amount for a Bill Pay transaction is $1.00 and the maximum dollar amount is $9,999.99 per transaction with a daily aggregate limit of $19,999.99.

Processing Payments. Bill ▇▇▇▇ Pay payments are delivered to the payee either electronically, or by paper check to those payees not set up to accept electronic payments. Funds for electronic and paper check payments will be withdrawn from your account one (1) to two (2) business days after the specified Send On Date. Due to the processing systems for electronic transactions used in the United States and by us, a payment or other transaction may be effective / posted before we are open for business on the processing date for the payment or other transaction. Therefore, you are responsible for insuring that your account(s) have sufficient balances as applicable for the scheduled payment / transaction one business day prior to the process date. If a payment is due on a Saturday, Sunday, or Federal holiday, the process date will be adjusted to allow the minimum required business days, which is three (3) business days for electronic payments or five (5) business days for paper check payments. In these cases, you should plan to have a sufficient balance on the last business day before the process date in order to ensure your payment is made on time. For merchants not set up to accept electronic payments, a paper check will be issued five (5) business days prior to the due date and the funds withdrawn from your account upon presentment of the check for payment. It is your responsibility to schedule your payments in such a manner that your obligations will be paid on time. You should enter all Bill ▇▇▇▇ Pay instructions before the Cutoff Time (8:30 p.m. MST) and allow sufficient delivery time. Payment instructions entered after the Cutoff Time or on a weekend or holiday will be processed on the next business day. If you do not allow sufficient time, you assume full responsibility for any late payments, finance charges or service fees that may be imposed as a result of your failure to transmit a timely Bill ▇▇▇▇ Pay authorization. The minimum dollar amount for a Bill ▇▇▇▇ Pay transaction is $1.00 and the maximum dollar amount is $9,999.99 per transaction with a daily aggregate limit of $19,999.99.