CASH MANAGEMENT BILL PAYMENT AGREEMENT
Bill Payment Service. In addition to the Online Cash Management Banking Master Agreement, Online Banking customers may also use the optional Bill Payment Service to (i) Make one-time or recurring payments online to companies or individuals (each a “Payee”) you select within the United States (each a “Bill Payment”) and (ii) change or delete future and recurring payments (collectively, the “Bill Payment Service”).
(a) Bill Payment Processing. The processing of Bill Payments are subject to the following terms and conditions:
(i) Each Bill Payment made through the Bill Payment Service will be deducted from a checking account designated by Company through Online Cash Management. Company’s authorization in this manner allows Bank to process Bill Payments without a drawer’s signature.
(ii) You agree not to use the Bill Payment Service to make payments to the Internal Revenue Service or to make court ordered payments.
(iii) Sufficient funds must be available in the designated checking account in order to complete any Bill Payments.
(iv) Company should plan to allow at least five (5) to seven (7) business days (starting with the business day after the date a Bill Payment is sent) for Company’s Bill Payments to be received by the payee if the payment is sent by check. Company should plan to allow at least two (2) to three (3) business days (starting with the business day after the date a Bill Payment is sent) for Company’s Bill Payments to be received by the payee if the Bill Payment is sent electronically (e.g. by ACH entry).
(v) The Bill Payment Service will indicate whether a Bill Payment will be sent by check or electronically. Bank shall, in its sole discretion, select the method by which a Bill Payment will be made to the payee (i.e. paper check or electronic payment).
(vi) Recurring Bill Payments can be set up in the Bill Payment Service for the same payee in the same amount and to be sent with the frequency selected by Company among the frequency options offered by the Bill Payment Service (e.g. weekly, every other week, monthly, etc.).
(vii) Bill Payments submitted before 3:00 p.m. Eastern Time on a business day will be processed (i.e. sent) on that same business day. Payments submitted after 3 p.m. Eastern Time on a business day will be processed on the next business day. All payments scheduled to be sent on a date that falls on a weekend day or other non-business day will be processed on the business day immediately prior to such scheduled date.
(b) Stop Payment and Change Orders. The stop payment terms of any other agreement between Bank and Company, including any deposit account agreement governing Company’s designated checking account, do not apply to Bill Payments. Company may not stop payment on a Bill Payment Bank sent to the payee by electronic means, except as described below for recurring, preauthorized payments. However, Bank may be able, but is not obligated, to cancel or change single Bill Payments that have not yet been sent. Bank will attempt to change or cancel such payments, provided Company has given Bank advance notice and Company has sufficient time to process the request. For automatic, recurring (preauthorized) payments: If it is too late to cancel an automatic recurring Bill Payment, Company may stop payment by contacting the Bank at 866-959-2265 at least three (3) business days before the scheduled payment date. Company must inform the Bank of the exact amount of the Bill Payment, Company’s account number, payment issue date, payee name, and the reason for the stop payment request. Bank is not responsible if Company fails to describe the Bill Payment exactly. Fees for stop payment orders are listed in Schedule B. Company may place stop-payment orders on Bill Payments sent by paper check using the Bill Payment Service, or by calling the Bank’s Deposit Operations Department at 866-959-2265. Stop payment of paper checks are not guaranteed. Payees may present paper check payments to their bank before the stop payment has been properly processed, and once a paper check has been paid or cashed by the payee it cannot be stopped.
(c) No Duty to Monitor Bill Pay payments. Company has no duty to monitor Bill Payments that are made through the Bill Payment Service.
(d) Canceling Bill Payment Service. Company may cancel its use of the Bill Payment Service at any time by a secure message through the Bill Payment Service or by making such request in writing and addressed to United Bank, Deposit Operations Department, P.O. Box 9020, West Springfield, MA 01090-9020. Once the Bill Payment Service is cancelled, Company will not have access to the Bill Payment Service, including but not limited to, the Payment History and Scheduled Payments pages. Any payments scheduled to be sent after the cancellation date will not be processed. Cancellation shall not affect Company’s liability or obligations under this Agreement.
(e) Bill Payment Provisions Control. If this section regarding the Bill Payment Service conflicts with any other provisions of this Agreement, this section will govern to the extent of such conflict.
(f) Liability. In addition to other provisions in this Agreement limiting Bank’s liability, Bank is not liable for damages Company incurs if the designated checking account does not contain funds sufficient to fund a Bill Payment, if Company does not allow sufficient time for delivery to the payee, or due to delays in mail delivery, changes of merchant address or account numbers, the failure of any merchant to process a Bill Payment correctly or in a timely manner, or for any other circumstances beyond Bank’s control.