BILL PAY AGREEMENT/DISCLOSURE
WELCOME TO GLENWOOD STATE BANK'S BILL PAY PRODUCT!
*** IMPORTANT NOTICE: IF YOU CLICK ACCEPT AT THE BOTTOM OF THIS PAGE, YOU ARE AGREEING TO PAY $5.00 PER MONTH *UNLESS* YOU SCHEDULE AT LEAST ONE PAYMENT EVERY 30 DAYS. A SCHEDULED PAYMENT DOES NOT INCLUDE AUTOMATICALLY RECURRING PAYMENTS. SHOULD YOU SCHEDULE AT LEAST ONE PAYMENT EVERY 30 DAYS, THE $5.00 WILL BE WAIVED. IF YOU DO NOT AGREE TO THESE TERMS, SIMPLY CLOSE OUT OF THIS WINDOW.
There is no monthly charge for Consumer Bill Pay service, as long as you schedule a payment within each 30 day period from your enrollment date. You will be charged a 5.00 fee for each 30 day period that your Bill Pay account has no scheduled, non-recurring payments (based upon enrollment date). You need to contact our Customer Service staff to deactivate your account should you wish to discontinue using Bill Pay and avoid the $5.00 monthly inactivity fee. Commercial accounts with large payment volume will be charged a $6.00 per month fee.
Cut off time each business day for payment submissions to us is 2:00pm Central Time. PLEASE check your Bill Pay Account regularly and timely after entering payments for any payments that may NOT have been made due to incorrect information entered.
PLEASE Allow 5 business days for payments to reach your "Payees". For Bill payments made by check, your account will be debited when payee cashes or deposits your bill payment. For Bill payments made electronically, your account will be debited on the processing date for that payment.
This is your bill paying agreement with Glenwood State Bank.
You may use Glenwood State Bank Bill Pay Service to direct Glenwood State Bank 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 account agreements, disclosures and other documents in effect from time to time governing your account (The Account Rules).
"You" or "Your" means each person who is authorized to use the service. "Payee" means anyone, including the Financial Institution, you designate and the Financial institution accepts as a Payee.
HOW TO SET UP PAYEES/PAYMENTS
If you want to add a new PAYEE, select the Payee tab located in your Bill Pay application or speak to a service representative.
You may add a new fixed payment to a Payee by accessing the service and entering the appropriate information. Most other additions, deletions, or changes can be made in writing or by using the service.
The Financial Institution reserves the right to refuse the designation of a Payee for any reason.
You may pay any Payee with-in the United States (including U.S. territories and APOs).
The Financial Institution is not responsible for payments that can not be made due to incomplete, incorrect, or outdated information.
THE BILL PAYING PROCESS
Single Payments. A single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment process date, provided the payment is submitted prior to the daily cut-off time on that date.
The daily cut-off time, which is controlled by the Financial Institution, is currently 2:00 PM Central time.
A single payment submitted after the cut-off time on the designated process date will be processed on the next business day. If you designate a non-business date (generally weekends and certain holidays) as the payment process date, the payment will be processed on the first business day following the designated process date.
Recurring Payments. When a recurring payment is processed, the system automatically sets up the next payment. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules:
If the recurring payments "Pay Before" option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date.
If the recurring payments "Pay After" option is selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.
Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated process date, then the last calendar day of that month is used as the calculated process date.
SINGLE AND RECURRING PAYMENTS
The system will calculate the Estimated Arrival Date of your payment, this is only an estimate, please allow ample time for you payments to reach your Payees.
CANCELLING A PAYMENT
A bill payment can be changed or cancelled, anytime prior to the cutoff time on the scheduled process date.
"PAY A PERSON" or P2P payments
"Pay a Person" option in Bill Pay is the ability to transfer funds from your account with us to another account at another bank (either held by you or by someone else) or pay a person by check through Bill Pay. This is called P2P.
AVAILABLE FUNDS
You agree to have available and collected funds on deposit in the account you designate in amounts sufficient to pay for all bill payments requested, as well as, any other payment obligations you have to the Financial Institution.
The Financial Institution reserves the right, without liability, to reject or reverse a bill payment if you fail to comply with the above requirement or any other term of this agreement.
If you do not have sufficient funds in the account and the Financial Institution has not exercised its right to reverse or reject a bill payment, you agree to pay for such payment obligations on demand.
You further agree the Financial Institution, at its option, may charge any of your accounts with the Financial Institution to cover such payment obligations.
The Financial Institution reserves the right to change the cut-off time. You will receive notice if it changes, via this agreement/disclosure the next time that you access Bill Pay after the change.
LIMITS
The maximum single payment amount is $10,000.
The maximum single "Pay a Person" electronic payment is $2,500. This limit can be increased up to the maximum of $10,000 per our discretion, upon your request.
LIABILITY
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 notify the Financial institution.
You will be responsible for any bill payment request you make that contains an error or is a duplicate of another bill payment.
The Financial Institution is not responsible for a bill payment that is not made if you did not properly follow the instructions for making a bill payment.
The Financial Institution is not liable for any failure to make a bill payment if you fail to promptly notify the Financial Institution after you learn that you have not received credit from a Payee for a bill payment.
The Financial Institution is 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 the Financial Institution's agent.
In any event, the Financial Institution will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this agreement or the service, even if the Financial Institution has knowledge of the possibility of them.
The Financial Institution is 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 the Financial Institution's reasonable control.
AMENDMENT AND TERMINATION
The Financial Institution has the right to change this agreement at any time by notice mailed to you at the last address shown for the account on the Financial Institution's records, by posting notice in branches of the Financial Institution, or as otherwise permitted by law. If we change this agreement, we will notify you with a new disclosure the next time that you access Bill Pay.
The Financial Institution has the right to terminate this agreement at any time.
You may terminate this agreement by written notice to the Financial Institution.
The Financial Institution is not responsible for any fixed payment made before the Financial Institution has a reasonable opportunity to act on your termination notice.
You remain obligated for any payments made by the Financial Institution on your behalf.
SERVICE FEES
There is no fee for consumer Bill Pay Service for an unlimited number of monthly payments, unless there is no one-time payment scheduled in a 30 day period. A $5.00 monthly fee will be charged for each 30 day period (based upon enrollment date) that there is no scheduled one-time payment on the Bill Pay Service.
Business customers using the Consumer Bill Pay Product may be charged a $6.00 per month fee.
Glenwood State Bank reserves the right to charge you for research time involving payments no longer available in your screen history. See current service charge fee schedule for current rates.
GSB Overdraft Fee: Refer to current service charge fee schedule for current charges.
Bill payments are processed by Electronic Fund Transfers (EFT). Please see the Electronic Fund Transfers Disclosure Statement included, or, received when you opened your account, which discloses important information concerning your rights and obligations.
Additional charges below are for customer requested services from Bill Pay Processing company at Bill Pay Customer Service phone number, or from Bill Pay site. You will be informed of any of the following charges before they are incurred. Charges will be assessed to your "pay from" account as incurred. There will be No Charge for any item if needed to correct a Financial Institution error.
Written Correspondence to Payee: $10.00
Per proof of payment not necessitated by a dispute: $10.00
Payments returned due to customer error: $5.00
Reinstate Fee: $50.00
Cancellation of payment Fee: $7.50
Express Mail correspondence: $15.00
ACH Return Fee: $10.00 (may be in addition to GSB regular charges for ACH
return items - see current service charge disclosure for amount)
Miscellaneous Product Fees
Next Business Day Rush Payment: $34.95
Second Business Day Rush Check payment fee: $29.95
Second Business Day Electronic Delivery (Economy) payment fee: $6.95
Charitable Donations: $1.99
Gift Pay: $2.99
WELCOME TO GLENWOOD STATE BANK'S BILL PAY PRODUCT!
*** IMPORTANT NOTICE: IF YOU CLICK ACCEPT AT THE BOTTOM OF THIS PAGE, YOU ARE AGREEING TO PAY $5.00 PER MONTH *UNLESS* YOU SCHEDULE AT LEAST ONE PAYMENT EVERY 30 DAYS. A SCHEDULED PAYMENT DOES NOT INCLUDE AUTOMATICALLY RECURRING PAYMENTS. SHOULD YOU SCHEDULE AT LEAST ONE PAYMENT EVERY 30 DAYS, THE $5.00 WILL BE WAIVED. IF YOU DO NOT AGREE TO THESE TERMS, SIMPLY CLOSE OUT OF THIS WINDOW.
There is no monthly charge for Consumer Bill Pay service, as long as you schedule a payment within each 30 day period from your enrollment date. You will be charged a 5.00 fee for each 30 day period that your Bill Pay account has no scheduled, non-recurring payments (based upon enrollment date). You need to contact our Customer Service staff to deactivate your account should you wish to discontinue using Bill Pay and avoid the $5.00 monthly inactivity fee. Commercial accounts with large payment volume will be charged a $6.00 per month fee.
Cut off time each business day for payment submissions to us is 2:00pm Central Time. PLEASE check your Bill Pay Account regularly and timely after entering payments for any payments that may NOT have been made due to incorrect information entered.
PLEASE Allow 5 business days for payments to reach your "Payees". For Bill payments made by check, your account will be debited when payee cashes or deposits your bill payment. For Bill payments made electronically, your account will be debited on the processing date for that payment.
This is your bill paying agreement with Glenwood State Bank.
You may use Glenwood State Bank Bill Pay Service to direct Glenwood State Bank 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 account agreements, disclosures and other documents in effect from time to time governing your account (The Account Rules).
"You" or "Your" means each person who is authorized to use the service. "Payee" means anyone, including the Financial Institution, you designate and the Financial institution accepts as a Payee.
HOW TO SET UP PAYEES/PAYMENTS
If you want to add a new PAYEE, select the Payee tab located in your Bill Pay application or speak to a service representative.
You may add a new fixed payment to a Payee by accessing the service and entering the appropriate information. Most other additions, deletions, or changes can be made in writing or by using the service.
The Financial Institution reserves the right to refuse the designation of a Payee for any reason.
You may pay any Payee with-in the United States (including U.S. territories and APOs).
The Financial Institution is not responsible for payments that can not be made due to incomplete, incorrect, or outdated information.
THE BILL PAYING PROCESS
Single Payments. A single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment process date, provided the payment is submitted prior to the daily cut-off time on that date.
The daily cut-off time, which is controlled by the Financial Institution, is currently 2:00 PM Central time.
A single payment submitted after the cut-off time on the designated process date will be processed on the next business day. If you designate a non-business date (generally weekends and certain holidays) as the payment process date, the payment will be processed on the first business day following the designated process date.
Recurring Payments. When a recurring payment is processed, the system automatically sets up the next payment. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules:
If the recurring payments "Pay Before" option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date.
If the recurring payments "Pay After" option is selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.
Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated process date, then the last calendar day of that month is used as the calculated process date.
SINGLE AND RECURRING PAYMENTS
The system will calculate the Estimated Arrival Date of your payment, this is only an estimate, please allow ample time for you payments to reach your Payees.
CANCELLING A PAYMENT
A bill payment can be changed or cancelled, anytime prior to the cutoff time on the scheduled process date.
"PAY A PERSON" or P2P payments
"Pay a Person" option in Bill Pay is the ability to transfer funds from your account with us to another account at another bank (either held by you or by someone else) or pay a person by check through Bill Pay. This is called P2P.
AVAILABLE FUNDS
You agree to have available and collected funds on deposit in the account you designate in amounts sufficient to pay for all bill payments requested, as well as, any other payment obligations you have to the Financial Institution.
The Financial Institution reserves the right, without liability, to reject or reverse a bill payment if you fail to comply with the above requirement or any other term of this agreement.
If you do not have sufficient funds in the account and the Financial Institution has not exercised its right to reverse or reject a bill payment, you agree to pay for such payment obligations on demand.
You further agree the Financial Institution, at its option, may charge any of your accounts with the Financial Institution to cover such payment obligations.
The Financial Institution reserves the right to change the cut-off time. You will receive notice if it changes, via this agreement/disclosure the next time that you access Bill Pay after the change.
LIMITS
The maximum single payment amount is $10,000.
The maximum single "Pay a Person" electronic payment is $2,500. This limit can be increased up to the maximum of $10,000 per our discretion, upon your request.
LIABILITY
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 notify the Financial institution.
You will be responsible for any bill payment request you make that contains an error or is a duplicate of another bill payment.
The Financial Institution is not responsible for a bill payment that is not made if you did not properly follow the instructions for making a bill payment.
The Financial Institution is not liable for any failure to make a bill payment if you fail to promptly notify the Financial Institution after you learn that you have not received credit from a Payee for a bill payment.
The Financial Institution is 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 the Financial Institution's agent.
In any event, the Financial Institution will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this agreement or the service, even if the Financial Institution has knowledge of the possibility of them.
The Financial Institution is 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 the Financial Institution's reasonable control.
AMENDMENT AND TERMINATION
The Financial Institution has the right to change this agreement at any time by notice mailed to you at the last address shown for the account on the Financial Institution's records, by posting notice in branches of the Financial Institution, or as otherwise permitted by law. If we change this agreement, we will notify you with a new disclosure the next time that you access Bill Pay.
The Financial Institution has the right to terminate this agreement at any time.
You may terminate this agreement by written notice to the Financial Institution.
The Financial Institution is not responsible for any fixed payment made before the Financial Institution has a reasonable opportunity to act on your termination notice.
You remain obligated for any payments made by the Financial Institution on your behalf.
SERVICE FEES
There is no fee for consumer Bill Pay Service for an unlimited number of monthly payments, unless there is no one-time payment scheduled in a 30 day period. A $5.00 monthly fee will be charged for each 30 day period (based upon enrollment date) that there is no scheduled one-time payment on the Bill Pay Service.
Business customers using the Consumer Bill Pay Product may be charged a $6.00 per month fee.
Glenwood State Bank reserves the right to charge you for research time involving payments no longer available in your screen history. See current service charge fee schedule for current rates.
GSB Overdraft Fee: Refer to current service charge fee schedule for current charges.
Bill payments are processed by Electronic Fund Transfers (EFT). Please see the Electronic Fund Transfers Disclosure Statement included, or, received when you opened your account, which discloses important information concerning your rights and obligations.
Additional charges below are for customer requested services from Bill Pay Processing company at Bill Pay Customer Service phone number, or from Bill Pay site. You will be informed of any of the following charges before they are incurred. Charges will be assessed to your "pay from" account as incurred. There will be No Charge for any item if needed to correct a Financial Institution error.
Written Correspondence to Payee: $10.00
Per proof of payment not necessitated by a dispute: $10.00
Payments returned due to customer error: $5.00
Reinstate Fee: $50.00
Cancellation of payment Fee: $7.50
Express Mail correspondence: $15.00
ACH Return Fee: $10.00 (may be in addition to GSB regular charges for ACH
return items - see current service charge disclosure for amount)
Miscellaneous Product Fees
Next Business Day Rush Payment: $34.95
Second Business Day Rush Check payment fee: $29.95
Second Business Day Electronic Delivery (Economy) payment fee: $6.95
Charitable Donations: $1.99
Gift Pay: $2.99