Business Online Bill Pay Terms and Conditions

Transcription

1 Business Online Bill Pay Terms and Conditions This Online Bill Pay Terms and Conditions ("Agreement") is between Customer and Spring Bank for the delivery of Business Online Bill Pay as described below: Defined Terms As used in this Agreement, the following terms shall have the following meanings: Service means the Bill Payment Service offered through Spring Bank (E-Corp.) Agreement means these Terms and Conditions of the bill payment service. As used within this Agreement, you and your refer to the person enrolling in the Service as well as any authorized users of the Service that such person allows, subject to the parameters of multiple user access as set forth within the application. Payee is the person or entity to which you wish a bill payment to be directed or is the person or entity from which you receive electronic bills, as the case may be. Payment Instruction is the information provided by you to the Service for a bill payment to be made to the Payee (such as, but not limited to, Payee name, Payee account number, and Scheduled Payment Date). Payment Account is the checking account from which bill payments will be debited. Billing Account is the checking account from which all Service fees will be automatically debited. Business Day is every Monday through Friday, excluding Federal Holidays. Processing Date is generally two (2) or five (5) Business days before the payment date that you select for each Bill Payment within Online Banking. Due Date is the date reflected on your Payee statement for which the payment is due. It is not the late date or grace period. Scheduled Payment is a payment that has been scheduled through the Service but has not begun processing. We, Our, Us, or Bank mean Spring Bank. Representation and Authority You represent and warrant that you are a commercial entity and will use the Service solely for business purposes. You acknowledge that the federal Electronic Fund Transfer Act and Regulation E do not apply to the provision of the Service by E-Corp to you and that the manner in which E-Corp will provide the Service as described in this Agreement is commercially reasonable. You represent and warrant that you are acting with full authority for the applying entity, and that you are duly authorized to execute this Agreement on behalf of the applying entity. Funds Transfer Limitations Federal Reserve Regulation D limits the total number of transfers made by check, telephone, online banking and overdraft protection, as well as preauthorized transfers (including check card purchases, automatic transfers and wire transfers) to six (6) per statement period for savings and money market accounts. The bank may impose an excessive withdrawal fee (service charge) for each transaction exceeding these limitations. 1

2 Payment Scheduling To use Bill Payment, You will provide Us with (a) the name and address of the Payee (the company or person that You are paying), (b) Your account number with that Payee and (c) any other information We require to properly debit Your designated checking Account with Us and credit Your account with the Payee. You agree to allow Us to process Your Bill Payment on the Processing Date, which is generally two (2) or five (5) Business days before the payment date that you select for each Bill Payment within Online Banking. You also agree that Your checking Account will have a sufficient Available Balance on the Processing Date. If Your Account does not have a sufficient Available Balance, We may repeat the attempt to debit your Account one or more times, until you have sufficient funds for our transfer request or until we elect to take another approach. However, we have no obligation to try debiting the Payment Account more than once. Service Guarantee Due to circumstances beyond the control of the Service, particularly delays in handling and posting payments by Payees or financial institutions, some transactions may take longer to be credited to your account. The Service will not bear responsibility for any late payment related fees should a payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described under Payment Scheduling in this Agreement. Payment Authorization and Payment Remittance By providing the Service with names and account information of Payees to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it received through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with Payee directives. When the Service receives a Payment Instruction, you authorize the Service to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you. You also authorize the Service to credit your Payment Accounts for payments returned to the Service by the United States Postal Service or Payee, or payments remitted to you on behalf of another user of the Service. We are responsible for processing your instructions and requests. We will be liable only for direct damages incurred as a result of our gross negligence and willful misconduct. We will not be liable for any damages: 1. if you do not have sufficient available funds in a Payment Account to complete a transaction from that account, or if that Payment Account has been closed; 2. if you have not properly followed the instructions on how to make a transfer or bill payment; 3. if you have not given us complete, correct and current instructions so that we can make a transfer or bill payment; 4. if you do not authorize a bill payment soon enough for your payment to be made and properly credited by the payee by the time it is due; 5. if we make a timely bill payment but the payee nevertheless does not credit your payment promptly after receipt; 6. if withdrawals from any of your Payment Accounts have been prohibited by a court order such as garnishment or other legal process; 7. if your computer or software is not working properly; 8. if your Internet Service Provider or other telecommunications provider is not available to transmit your requests and instructions to the bank; 9. if the U.S. Postal Service causes a delay; or 2

3 10. if circumstances beyond our control prevent making a transfer or payment, despite reasonable precautions that we have taken. Such circumstances include, but are not limited to, telecommunication outages, postage strikes, delays caused by payees, fires and floods. 11. There may be exceptions stated in our Terms and Conditions with you. Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a Payee which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper Payee any previously misdirected transactions, and if applicable, for any late payment related fees. Payment Methods The Service reserves the right to select the method in which to remit funds on your behalf to your Payee. Spring Bank will remit payments either by transferring funds electronically to the payee or by mailing the payee a check. Payment Cancellation Requests You may cancel or edit any Scheduled Payment (including recurring payments) by following the directions within the application. There is no fee for canceling or editing a Scheduled Payment. Once the Service has begun processing a payment it cannot be cancelled or edited. Stop Payments Requests The Service s ability to process a stop payment request will depend on the payment method and whether or not a check has cleared. The Service may also not have a reasonable opportunity to act on any stop payment request after a payment has been processed. If you desire to stop any payment that has already been processed, you must contact Spring Bank at Although the Service will make every effort to accommodate your request, the Service will have no liability for failing to do so. The Service may also require you to present your request in writing within fourteen (14) days. The fee for each stop payment request will be the current fee for such service as set out in the applicable Service Fee Summary. Processing The Bank will process electronic entries received in a timely manner via ACH to accounts at other banks in accordance with the operating rules of the National Automated Clearing House Association (NACHA Rules). The Bank is not responsible for delays in processing caused by circumstances beyond its control, including but not limited to errors caused by the Customer in inputting/releasing its transactions, machine or transmission facility malfunctions, or the action or inaction of the Electronic Payments Network or a receiving bank or any other party. The Bank will credit the Payment Account for items returned through the ACH and the Service will forward a notification electronically to the Customer. The Service may reject any entry that does not comply with the requirements as communicated to the Customer. Service shall notify the Customer, in case of rejection or returns. Service shall notify the Customer, in the case of rejection because of insufficient available funds electronically no later than the business day after such entry would otherwise have been transmitted by the Bank to the ACH. The Bank and Service shall have no liability to the Customer by reason of the rejection of an entry or the fact that such notice is not given at an earlier time than that provided for herein. The Customer has no right to cancel or amend any entry after it has been submitted. However, the Bank and / or Service shall use reasonable efforts to act on a request by the Customer for cancellation of an 3

4 entry prior to transmitting it to the ACH, or, in the case of an On-Us Entry, prior to crediting a Receiver s account, but shall have no liability if such cancellation is not affected. Prohibited Payments Payments may be only to Payees with a United States address. You agree to not make a Bill Payment of alimony, child-support, taxes or other governmental fees, or court-directed payments with Online Banking. This Agreement does not alter your liability or obligations that currently exist between you and your Payees. Exclusions of Warranties THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED AS IS WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Password and Security You agree not to give or make available your password or other means to access your account to any unauthorized individuals. You are responsible for all payments you authorize using the Service. If you permit other persons to use the Service or your password or other means to access your account, you are responsible for any transaction they authorize. If you believe that your password or other means to access your account has been lost or stolen or that someone may attempt to use the Service without your consent or has transferred money without your permission, you must immediately notify Spring Bank at W. Bluemound Rd., Suite 100., Brookfield, WI or by phone at Errors and Questions In case of errors or questions about your transactions, you should, as soon as possible, notify Spring Bank by calling Disclosure of Account Information to Third Parties It is our general policy to treat your account information as confidential. However, we will disclose information to third parties about your account or the transactions you make ONLY in the following situations: 1. Where it is necessary for completing transactions; 2. Where it is necessary for activating additional services; 3. In order to verify the existence and condition of your account to a third party, such as a Payee; 4. In order to comply with a governmental agency or court orders; or, 5. If you give us your written permission. Service Fees and Additional Fees Any applicable fees will be charged regardless of whether the Service was used during the billing cycle. There may be a charge for additional transactions and other optional services. You agree to pay such charges and authorize the Service to deduct the calculated amount from your designated Billing Account for these amounts and any additional charges that may be incurred by you. Any fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees and / or Internet service fees that may be assessed by your telephone and / or Internet service provider. 4

5 Dishonor of Transaction We have no obligation to extend credit to you under this Agreement. If for any reason, there are insufficient funds in your Payment Account to make a payment, we are not required to make the payment. We can in our sole discretion, do any, or more than one of, the following, as applicable: We can repeat the attempt to debit your account one or more times, until you have sufficient funds for our transfer request or until we elect to take another approach. However, we have no obligation to try debiting the Payment Account more than once. We can forward your payment despite the dishonor, in which case we can at any time thereafter charge your Payment Account to reimburse us for the amount of the payment. We can cancel the payment we have made to your Payee on your behalf and charge a fee to your Payment Account to obtain reimbursement for any fees we incur for stopping payment on our check or ACH payment to the Payee, plus the amount of the payment if our cancellation attempt proves unsuccessful (this could occur, for example, if we use a Spring Bank check to make your payment and the check is enforced against us by a holder-in-due-course). We can deactivate your Payment Account with us so that you may no longer make payments through the Service. We can use any avenues legally available to us to collect the amount due us in connection with the payment. Alterations and Amendments This Agreement, applicable fees and service fees may be changed by Spring Bank from time to time. In such event, Spring Bank shall provide notice to you. Any use of the Service after We provide you a notice of change will constitute your agreement to such change(s). Address or Other Changes It is your sole responsibility to ensure that your contact information is current and accurate. This includes, but is not limited to, name, address, phone numbers and addresses. Changes can be made either within the Service, or by contacting Spring Bank at If You contact us by phone, we may require You to confirm the change in writing. The Service is not responsible for any payment processing errors or fees incurred if you do not provide accurate Payment Account or contact information. Service Termination, Cancellation, or Suspension In the event you wish to cancel the Service, you must contact Spring Bank in writing at W. Bluemound Rd., Suite 100, Brookfield, WI , or by phone at If You contact us by phone, we may require You to confirm the request in writing. Any payment(s) the Service has already processed before the requested cancellation date will be completed by the Service. All Scheduled Payments including recurring payments will not be processed once the Service is cancelled. Neither termination nor suspension shall affect your liability or obligations under this Agreement. Payee Limitation The Service reserves the right to refuse to pay any Payee to whom you may direct a payment. The Service will electronically notify you promptly if it decides to refuse to pay a Payee designated by you. This notification is not required if you attempt to make a prohibited payment under this Agreement. 5

6 Information Authorization Your enrollment in the Service may not be fulfilled if the Service cannot verify your identity or other necessary information. You agree that the Service reserves the right to obtain account information from your Payee (for example, to resolve payment posting problems or for verification). Assignment We may assign our rights under this Agreement to a company affiliated with us now or in the future. We may also assign or delegate certain of our rights and responsibilities under this Agreement to independent contractors or other third parties. No Waiver The Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Service. No delay or omission on the part of the Service in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions. Consent to this agreement By clicking the "I Agree" button at the bottom of this Agreement you represent to Spring Bank that you are authorized as the owner or on behalf of the owner of the designated Payment Account(s) to consent to and accept the terms of this agreement. SPRING BANK W BLUEMOUND RD., SUITE 100 BROOKFIELD WI Rev. 04/15/13 6