Bill Pay Agreement
I. Online Bill Payment Service
Description of the Bill Pay Service. This Service allows you to obtain information about your accounts and transactions, communicate with us electronically and make payments to others.
You can arrange, at your option, for the payment of your current, future and recurring bills from a checking account (called the “Bill Pay Account”), up to a maximum of $9,999.00 per payment. Any payments you wish to make through this service must be payable in US dollars to a payee located within the United States. We reserve the right to restrict types of payees to whom payments may be made using the Services from time to time.
There is no limit to the number of payments that may be authorized. However, only one, one-time payment and one recurring payment may be sent to each payee on the same day. You may pay anyone approved by the Bank for payment through the Bill Pay Service. However, we are unable to process any payments to federal, state, or local tax agencies. By furnishing us with the names of your payees and their addresses, you authorize us to follow the payment instructions to these payees that you provide us via Online Banking. See our fee schedule below for details.
The date the payment is to be sent is called the “”Send On Date”. When we receive a payment instruction (for the current or a future date), we will transfer funds to the payee on your behalf from the funds in your Bill Pay Account on the “Deliver Date”.
We process the payments you make through the Bill Pay Services in one of the following ways:
We may send payments through an electronic transmission to the payee. Payees who receive electronic delivery will receive your payment information, including your account number, through Electronic Funds Transfer (EFT). Payments made are generally received and credited by most payees within three business days.
We may send payments by a bank check mailed to the payee. We send all checks through the US mail. Payments made this way are generally received and credited within five business days.
No Duty to Monitor Payments. We do not have any duty to monitor the payments that are made through the Bill Pay Service. If an authorized representative of yours uses your Bill Pay Account to pay bills that are not yours, you assume the entire risk of loss and indemnify and hold the Bank, its directors, officers, employees and agents harmless from all loss, liability, claims, demands, judgments and expenses arising out of or in any way connected with such use.
Stop or Change Instructions. You have the right to stop or change any scheduled bill payment before the payment is processed. For stop payment requests initiated after processing, you must contact Bill Payment Services at 1-866-322-5212. Payments remitted electronically cannot be stopped. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee.
Stop payment orders, whether oral, written or electronic, will be in effect for a period of six (6) months. After six (6) months, any stop payment will terminate and must be renewed in order to continue in effect. We may pay any item that is presented following the lapse of any stop payment order.
Scheduling Payments. There will be a delay between the Send On Date (the date your payment is sent) and the Delivery Date (the date the payee receives that payment). Any payment made through the Bill Pay Service require sufficient time for your payee to receive your payment and credit your account properly. To avoid incurring a finance or other charge, you must schedule a payment sufficiently in advance of the due date of your payment.
WHEN YOU SCHEDULE PAYMENTS, YOU MUST SCHEDULE THE PAYMENT AT LEAST 5 FULL BUSINESS DAYS PRIOR TO THE DATE THE PAYMENT IS DUE AT YOUR PAYEE FOR CHECK PAYMENTS AND 3 FULL BUSINESS DAYS FOR ELECTRONIC PAYMENTS.
For such scheduling purposes, your first business day is the business day after your scheduled payment date. The Bill Payment processor processes payments on all days excluding Sundays and Federal Reserve Board recognized holidays. The deadline for entering a payment to be included in the following day’s processing is 9:45 PM (MT). If the attempt to schedule a payment occurs after this time, the payment will be processed two days later.
You may choose to schedule payments to recur in the same amount at regular weekly, semimonthly or monthly intervals. Weekly recurring payments may not be scheduled on Saturdays. You should schedule a payment to a new payee at least ten (10) business days before the payment due date.
Returned (NSF) Bill Pay Items. It is the responsibility of the customer to have available funds in the Bill Pay account to pay for all Bill Pay instructions. If a Bill Pay item is returned due to insufficient funds, uncollected funds, or other reason given by the Bank, the customer will be responsible for all costs incurred by the collection department, the Bank, or its Bill Pay host. The customer will also be responsible for any fees charged by the Bank and its Bill Pay host for returned items and/or stop payments.
The following are procedures that are typically followed after a Bill Pay item is not paid. The Bank or its Bill Pay host are not required to follow these instructions, nor are they required to give notice to a change in these procedures. If the Bank or its Bill Pay host feels that resending or stopping a debit item will be unproductive (e.g. on a closed account), the item could go directly to collections.
If a Bill Pay item was sent electronically and the debit to your account has not been paid, the debit will be resent to your account up to three times. After the third attempt, the debit item will be placed in collections.
If a Bill Pay item was sent by check and the check has not been paid/cashed, the debit to your account will either be resent up to three times before being placed in collections, or a stop payment will be placed on the check.
If a Bill Pay item was sent by check and the check has been paid/cashed, the debit to your account will be resent up to three times. After the third attempt, the debit item will be placed in collections.
If a Bill Pay item is returned, a block will be placed on your Bill Pay account, preventing you from making more Bill Pay payments until the NSF item is resolved. Any recurring future dated payments scheduled for release during the time the account is blocked will not be sent.
The Bank and its Bill Pay host may terminate your Bill Pay service without notice if Bill Pay items are returned and/or sent to collections. The Bank may also terminate your Bill Pay service without notice at any time if there have been several non-Bill Pay items being returned on your account.
Bank Errors. If the Bank does not properly complete a bill payment on time or in the correct amount, we will pay any late fees or finance charges (up to $50.00) that you reasonably incurred as a result as long as your account was in good standing with the payee prior to this incident. We will also be liable to you if we fail to stop a payment pursuant to your order to do so, so long as your order describes the payment with reasonable certainty and is received at a time and in a manner that affords us a reasonable opportunity to act on it before the payment is sent. Except as stated in this Agreement, any stop payment provisions of the agreement otherwise governing your account that is applicable to checks will also apply to the Bill Pay Service. We will not be responsible for any charges imposed or any other action taken by a payee resulting from a payment that you have not scheduled properly, including any applicable finance charges and late fees. In addition, we will not be liable if any third party through whom any bill payment is to be made fails to properly transmit the payment to the intended payee. We will also not be liable if (i) there are insufficient available funds or credit availability in your Bill Pay Account or overdraft protection plan; (ii) if a legal order directs us to prohibit withdrawals from the Bill Pay Account; (iii) if the Bill Pay Account is closed, blocked or frozen; (iv) if the Bill Pay instructions, including payee information, provided by you are incorrect; or (v) if any part of the electronic funds transfer system is not working properly. We will not be liable for indirect, special, or consequential damages arising out of the use of the Bill Pay Service.
Termination of Bill Pay Service. If you close your current Bill Pay Account, you must notify us and designate in writing a new deposit account that will be your Bill Pay Account within 30 days or the Bank may terminate your Bill Pay Service. If the Bank terminates your Bill Pay Service, your online bill payment information will be lost. If you decide to terminate the Bill Pay Service, we strongly suggest that you cancel all future bill payments at the same time that you cancel your Bill Pay Service, either by deleting those payments yourself using the Bill Pay Service or by notifying the Bank. This will ensure that future payments made by you will not be duplicated. We will automatically delete all outstanding payment orders (all individual payments and all recurring payments) once we have been notified that your Bill Pay Service has been terminated. Termination of the Bill Pay Service will not automatically close your accounts.
Fees. There will be fees for Stop Payments and for Insufficient Funds that will be in addition to the fees the Bank normally charges.
All fees incurred by Bill Pay will be charged to your Bill Pay account usually within one month after the end of each month. If your Bill Pay Service has been terminated voluntarily or involuntarily, you are still responsible for all monthly charges and any additional charges incurred from usage of Bill Pay services.
The accounts accessed through Online Banking and Bill Pay are additionally subject to normal fees identified in the Rate and Fee Schedule available for each account
Change of Address. If you have a change of address, you must notify the Bank of the change, including any changes in your phone number(s). Your address with your Bill Pay Service is not automatically updated with changes you make with the Bank, and the Bank employee you give your change of address to may not know that you use the Bank’s Bill Pay Service. To lessen the time that your address is changed in the Bill Pay system, it is highly recommended that you either tell the Bank employee you are giving your change of address to that you use the Bank’s Bill Pay Service, or contact the Internet Banking Department at (801) 545-6000 Monday through Friday 9:30AM – 5:00PM.
II. Internet and Electronic Mail (e-mail)
If you send us electronic mail (“e-mail”), we may not receive or review it immediately. We will have a reasonable time to act upon any e-mail request or notice, and reserve the right to reject any transaction or request received by e-mail. You acknowledge that, even though e-mail may be encrypted, we cannot ensure that it will not be intercepted or affected by the actions or omissions of others, such as third party networks or persons with access to the Internet. As such, we recommend that you not send account data or other sensitive information to us by e-mail. If you need to report an unauthorized transaction, a stop payment, or other time-sensitive information, call one of the Bank during regular business hours.
You may access your eligible accounts and available services at the Bank’s website at www.finwisebank.com. Your use of the Internet will be entirely at your own risk. We make no representation, warranty or endorsement with respect to (a) information placed on the Internet by third parties; (b) the security or continued availability of the Internet or of any Internet website, including without limitation our website; or (c) the services, products or information made available over the Internet by others whose sites may be accessed, directly or indirectly, as a result of our Services. Our service providers and other agents and we assume no responsibility for viruses created by third parties, or for any third party’s unauthorized access to, or use of, your computer system.
You agree that (a) Internet services are provided to you on an “as is” and “as available” basis, without warranties of any kind, either expressed or implied; (b) we, our affiliates, Internet service providers, and licensors will not be liable for any errors, defects in, or the untimeliness or lack of authenticity of, any information provided over the Internet; (c) you will comply with all laws applicable to your Internet activities; (d) you will not transmit any information which is defamatory, abusive, or which may give rise to civil liability; (e) we may monitor your e-mail and Internet communications with our employees; and (f) our Internet service will be subject to the additional qualifications and operating rules, if any, set forth on our website.
III. Bill Pay Fee Schedule
You agree to pay us the fees we establish for each of the Services. We may amend our Service pricing from time to time. Certain prices are subject to change without prior notice. Special or additional Services performed at your request will be subject to such additional terms and fees as you and we may agree.
Personal Bill Pay
We are offering Bill Pay service to our customers free of any service charge. There is a $30.00 fee for each Bill Payment transaction when there are insufficient funds in your account on the date the payment is scheduled to be made/sent and the transaction is returned. (This is in addition to the fees FinWise Bank charges for insufficient funds.) There is a $25.00 fee to place a Stop Payment on each scheduled payment. Stop Payments are good for 6 months from the date the Stop Payment is placed.
Other Miscellaneous Fees may apply.
The accounts accessed through Online Account Access and Bill Pay are additionally subject to normal fees identified in the Rate and Fee Schedule available for each account.
In addition to the Service fees, you agree to pay for all taxes, tariffs and assessments levied or imposed by any government agency in connection with the Services, this Agreement, and the software or equipment made available to you (excluding any income tax payable by us). You also are responsible for the costs of any communication lines and any data processing charges payable to third parties.
IV. Modification to this Agreement
We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice. We also reserve the right to modify this agreement, including changes to fees, at any time without prior notice.