Common use of Recurring Payments Clause in Contracts

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Services. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Day, it is adjusted based upon the following rules; If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing date. If the recurring payment’s date specifies the 29th, 30th, or 31st of the month as the processing date, and that day does not exist, then the last calendar of the month is used to calculate the processing date.

Appears in 3 contracts

Sources: Business Online Banking Authorization Agreement, Business Online Banking Authorization Agreement, Business Online Banking Authorization Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing process date is calculated for the next occurrence of the payment. If the calculated processing process date is a non-Business Day, it is adjusted based upon the following rules; : 46.6.1 If the recurring payment’s “'s "Pay Before” Backward" option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing process date. If the recurring payment’s “'s "Pay After” Backward" option is selectednot selected (or if the "Pay Backward" option is not available), the processing data process date for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing process date. . 46.6.2 If Customer’s frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated process date, then the last calendar day of the that month is used to calculate as the processing calculated process date.

Appears in 2 contracts

Sources: Business Online Banking Terms and Conditions, Trustco Bank Retail Online Banking, Bill Paying and Mobile Banking Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment ServicesPay system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Daybusiness date (generally weekends and certain holidays), it is adjusted based upon the following rules; : If the recurring payment’s payment‘s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day business date after the calculated processing date. If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated processing date, then the last calendar day of the that month is used to calculate as the calculated processing date.

Appears in 1 contract

Sources: Bill Pay Service Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Daybusiness date (generally weekends and certain holidays), it is adjusted based upon the following rules; : • If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day business date after the calculated processing date. Note: If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated processing date, then the last calendar day of the that month is used to calculate as the calculated processing date.

Appears in 1 contract

Sources: Bill Pay Service Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Daybusiness date (generally weekends and certain holidays), it is adjusted based upon the following rules; :  If the recurring payment‘s “Pay Before” option is selected, the processing date or the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date.  If the recurring payment’s “Pay BeforeAfter” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing date. Note: If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated processing date, then the last calendar day of the that month is used to calculate as the calculated processing date.

Appears in 1 contract

Sources: Bill Payment Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings setting for the payment, a processing date Process Date is calculated for the next occurrence of the payment. If the calculated processing date Process Date is a non-Business Daybusiness date (generally weekends and certain holidays), it is adjusted based upon the following rules; : i. If the recurring payment’s “'s 'Pay Before' option is selected, the processing date Process Date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date. ii. If the recurring payment’s “Pay After” option is selected, the processing data Process date for the new occurrence of the payment is adjusted the next business date after the calculated process date. iii. If the recurring payment’s “Pay Before” option is not selected (or if the “Pay Before” option is not available), the Process Date for the new occurrence of the payment is adjusted to the first Business Day business date after the calculated processing date. If the recurring payment’s date specifies the 29th, 30th, or 31st of the month as the processing date, and that day does not exist, then the last calendar of the month is used to calculate the processing dateProcess Date.

Appears in 1 contract

Sources: Terms & Conditions Agreement for Bill Payment Service

Recurring Payments. A You may use Bill Payment to authorize automatic recurring payment may be established for those payments that do not fluctuate per frequency and amountof recurring bills. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is Process/Send On Date falls on a non-Business Day, it is adjusted based upon on the following rules; : o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing dateProcess/Send On Date. o If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing dateProcess/Send On Date. o If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the Process/Send On Date, then the last calendar day of the that month is used to calculate as the processing dateProcess/Send On Date.

Appears in 1 contract

Sources: Electronic Services Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your Your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Day, it is adjusted based upon the following rules; : If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing date. Note: If Your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated processing date, then the last calendar day of the that month is used to calculate as the calculated processing date.

Appears in 1 contract

Sources: Service Agreement

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-Business Daybusiness date (generally weekends and certain holidays), it is adjusted based upon the following rules; : If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day business date after the calculated processing date. Note: If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated processing date, then the last calendar day of the that month is used to calculate as the calculated processing date. There is a $25,000.00 limit on Personal BillPay checks and a $100,000.00 limit on Business BillPay.

Appears in 1 contract

Sources: Mobile Deposit Agreement

Recurring Payments. A You may use ▇▇▇▇ Payment to authorize automatic recurring payment may be established for those payments that do not fluctuate per frequency and amountof recurring bills. When a recurring payment is processed, it is automatically rescheduled by the Bill Payment Servicessystem. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is Scheduled Pay Date falls on a non-Business Day, it is adjusted based upon on the following rules; : o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing dateScheduled Pay Date. o If the recurring payment’s “Pay After” option is selected, the processing data date for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing dateScheduled Pay Date. o If your frequency settings for the recurring payment’s date specifies payment specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the Scheduled Pay Date, then the last calendar day of the that month is used to calculate as the processing dateScheduled Pay Date.

Appears in 1 contract

Sources: Electronic Services Agreement

Recurring Payments. A recurring payment may is a payment that you designate be established made for those payments that do not fluctuate per the same dollar amount for a specified period based on a specified frequency and amount(e.g., weekly, monthly, quarterly, etc.). When authorizing a recurring payment, you agree to have means to print or otherwise save a copy of your authorization for your records. If the process date for a recurring payment is processed, it is automatically rescheduled by the Bill Payment Services. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is falls on a non-Business Daybusiness day, it is adjusted based upon the following rules; as follows: • If the recurring payment’s “Pay Before” option is selected, the processing process date for the new occurrence of the payment is adjusted to the business day immediately prior to the process date. • If the recurring payment’s “Pay After” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to day after the calculated processing process date. Note: If your frequency settings for the recurring payment’s “Pay After” option is selected, the processing data for the new occurrence of the payment is adjusted to the first Business Day after the calculated processing date. If the recurring payment’s date specifies specify the 29th, 30th, or 31st as a particular day of the month as the for processing date, and that day does not existexist in the month of the calculated process date, then the last calendar day of the that month is used to calculate as the processing calculated process date.

Appears in 1 contract

Sources: Online Bill Payment Agreement