Bill Payment Agreement
Welcome to Online Banking Bill Payment Service. Use of the Bill
Payment Service indicates acceptance of terms and conditions set forth
in the Online Banking Agreement & Disclosures and the terms and
conditions set forth in this Bill Payment Agreement & Disclosures
("Agreement") as each may be jointly and/or independently amended from
time to time. This Agreement is provided in electronic form, and by
using the Bill Payment Service you agree to accept the Agreement in that
form. Please read the Agreement carefully because it is our legal
agreement with you that governs your use of our Bill Payment Service.
1. INTRODUCTION
Through online banking you may subscribe to our optional Bill Payment
Service. The Bill Payment Service allows you to schedule payments
through the Internet for current, future, and recurring bills from your
checking account with us.
You may use our Bill Payment Service to direct us to make payments from
your designated checking account to the Payees you choose in accordance
with this Agreement. The terms and conditions of this Agreement are in
addition to the agreements, disclosures and other documents in effect
from time to time governing your deposit account with us, including the
Deposit Account Agreement & Disclosures ("Deposit Agreement"), and the
Online Banking Agreement & Disclosures.
"Bill Payment Service" and/or "Service" means the bill payment service
that First State Bank makes available over the Internet with Paytraxx
and is also a Service under the Agreement. "Bank", "we", "our", or
"us" means First State Bank. "Account" means the deposit account
you designate to process Bill Payment transactions through. "Payee" or
"Merchant" means anyone you designate and we accept as a payee. "Payment" means your remittance to a payee.
2. REQUIREMENTS & RESTRICTIONS
To subscribe to Bill Payment, you must designate a specific checking
account to process your Bill Payment transactions through. The account
you designate for this purpose must be in good standing with us in
accordance with our criteria.
Requirements for dual signatures on checks do not apply to the Bill
Payment Service.
3. PAYEE DESIGNATION
You can use the Bill Payment Service to make payments to almost any
Payee or Merchant you want, including individuals, local service
providers, utilities, credit cards, or to make mortgage or loan
payments, or charitable donations, etc.
The Bill Payment Service cannot be used to make payments for the following:
- Tax payments to the Internal Revenue Service or any state, local or other government agency;
- Court-ordered payments such as child support or alimony; and
- Payees located outside of the United States.
By furnishing us with the names of your Payees (Merchants and/or
individuals) and their addresses, you give us authorization to follow
the Payment instructions, which you provide to us. When we receive
a Payment instruction for the current date or a future date, we will
remit the funds to the Payee on your behalf from the funds in your
designated Account, on the day you have instructed them to be sent
("
Payment Date"). We are not obligated to pay funds from your
Account if the available Account balance is insufficient to cover the
Payment. Funds for ALL bill payments, whether paid electronically
or by check, will be withdrawn from your Account no later than three (3)
business days following the Payment Date.
We are not responsible if a Payment cannot be made due to incomplete,
incorrect, or outdated information provided by you regarding a Merchant,
or if you attempt to pay a Merchant that is not on your Merchant
Accounts list.
4. MAKING / SCHEDULING PAYMENTS
You may use the Bill Payment Service to authorize recurring payments or
non-recurring payments. Recurring payments are payments that you
schedule in advance to recur at substantially regular intervals in the
same amount to the same Payee. Recurring Payments may be scheduled
for up to ten (10) years. Non-recurring Payments are a single,
one-time Payment to a specified Payee. Non-recurring Payments may
be scheduled to be initiated up to eighteen (18) months in advance.
Payments are processed Monday through Friday at 1PM Central Time, except
on Federal holidays. If you attempt to schedule a Payment on a
weekend or Federal holiday, you will be prompted to select a different
date, or the Payment will be processed on the preceding business day if
it is an auto recurring Payment. The Payment method may be electronic or
by check. The first Payment to a Merchant must be scheduled at least
five (5) business days prior to the due date for each Payment (recurring
or variable) to allow adequate time for the Payment to reach the Payee.
The due date is the date the Merchant has designated for payment, and
should not be adjusted for any grace period or late date accommodations
the Merchant may provide. Once the Service has been notified
whether a Merchant accepts electronic payments or requires a paper
check, after making the first Payment to that Merchant, the Service will
display a message indicating that the Merchant requires either a two (2)
day lead time for an electronic payment, or a five (5) day lead time if
a paper check sent by regular mail is required.
Any Payments made with the Bill Payment Service require sufficient time
for your Payee to credit your Account with them properly. To avoid
incurring a finance charge or other charge, you must schedule a Payment
sufficiently in advance of the due date of your Payment. If you fail to
schedule your Payment according to the recommended timeframe, we will
not be responsible for the late fees or finance charges. We will
not be liable if any third party, through whom any Payment is made,
fails to properly transmit the Payment to the intended Payee.
You agree to have available collected funds on deposit in the Account
you designate in amounts sufficient to pay for all Payments requested,
as well as any other payment obligations you have to us. We reserve the
right, without liability, to reject or reverse a Payment if you fail to
comply with this requirement or any other terms of this Agreement. If
you do not have sufficient funds in your designated Account and we have
not exercised our right to reverse or reject a Payment, you agree to pay
for such payment obligations on demand. You further agree that we,
at our option, may charge any of your accounts with us to cover such
payment obligations.
5. Change or Delete Payments / Stop payments
Any Payment can be changed or cancelled; provided you access the Service
prior to 1PM Central Time on the business day the Payment is going to be
processed.
We shall not be liable to you due to a stop payment request if your
order to do so is not presented prior to the time the check has cleared.
Once the Payment has cleared, you can no longer stop payment.
6. PAYMENT GUARANTEE
If all Payment guidelines were followed and a Payment is still posted
late to your Account with a Merchant resulting in a late fee, at our
discretion, we will make an attempt to have the Merchant waive the late
fees. If the Merchant is unwilling to waive late fees, up to $50
in late fees assessed by the Merchant will be covered by us. However,
due to factors beyond our control such as the U.S. Mail and payment
processing at the Merchant, it is not guaranteed that a Payment will
post on the fifth business day (or second, if issued electronically).
It is imperative to note that Merchant grace periods are not taken into
consideration, and if adequate lead time prior to the payment due date
was not allowed by you in scheduling the Payment, this Guarantee is
void.
NOTE: If the Merchant is not willing to discuss late fees or
status of the account with us, you will be notified and advised that the
Merchant requires your authorization before further discussions can
occur between us and the Merchant.
7. LIABILITY
You are solely responsible for controlling the safekeeping of and access
to your Bill Payment information. You are liable for all transactions
you make, or that you authorize another person to make, even if that
person exceeds his or her authority. If you want to terminate another
person's authority, you must change your Online Banking logon password.
In the event that you have experienced unauthorized access to our Bill
Payment, you must notify us of the unauthorized access, identify any
Payments made or potential Payments scheduled, and change your logon
information.
You will be responsible for any Payment request you make that contains
an error or is a duplicate of another Payment. We are not responsible
for a Payment that is not made if you did not properly follow the
instructions for making the Payment. We are not liable for any failure
to make a Payment if you fail to promptly notify us after you learn that
you have not received credit from a Payee for a Payment. We are not
responsible for your acts or omissions or those of any other person,
including, without limitation, any transmission or communications
facility, and no such party shall be deemed to be our agent.
In any event, we will not be liable for any special, indirect,
consequential, incidental, or punitive losses, damages, or expenses in
connection with this Agreement or the Service, even if we have knowledge
of the possibility of them. We are not liable for any act, failure to
act or delay in acting if it is caused, in whole or in part, by any
cause beyond our reasonable control.
8. INACTIVITY
If you do not access or use the Bill Payment Service for a period of
more than ninety (90) days, we may in our sole discretion, terminate
your access to and use of the Bill Payment Service without notice to
you.
9. TERMINATION
We reserve the right to terminate your use of Bill Payment at any time
without prior notice to you.
If, for any reason, you should want to terminate your use of our Bill
Payment Service, we recommend that you cancel all future Payments and
transfers at the same time you terminate the Service, either by deleting
the Payments yourself or by contacting the Bank as stipulated below.
We will delete all outstanding payments (both one-time and recurring),
as part of your Service termination.
We are not responsible for any fixed Payment made before we have a
reasonable opportunity to act on your termination notice. You remain
obligated for any and all Payments made by us on your behalf through the
Bill Payment Service.
Should you opt to discontinue any of the Accounts or Services to which
this Agreement pertains, written notice must be provided to us
immediately at the following address.
- First State Bank
P.O. Box 580
Holly Springs, Ms 38635
10. AGREEMENT ASSIGNMENT AND AMENDMENT
We may assign this Agreement to any affiliate, parent or other company.
We may also assign or delegate certain of its rights and
responsibilities under this Agreement to such third parties as we may
elect upon notice to you whereupon we shall be released from any and all
further liability or responsibility related thereto.
We reserve the right to amend or cancel any of the provisions of this
Agreement, including changes to any fees, costs, or assessments. We may
amend or cancel any provision or charge by disclosing the change
electronically, and, at our option, by sending you notification in
addition thereto. We will provide notice of thirty (30) days of
any changes (or such lesser period as may be allowed by applicable law)
unless an immediate change is necessary to maintain the security of the
system. You may choose to accept or decline amendments,
cancellations or changes by continuing or discontinuing the accounts or
services to which these changes relate, at your option. We also reserve
the option, in our business judgment, to waive, reduce or reverse
charges or fees in individual situations