MySpending eCheck Terms & Conditions
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One Time Payment Terms & Conditions
Company Reliance on Information
MySpending (referred to as the "Company"), is entitled to rely upon the information supplied by you in your enrollment form.
Payment Processing
The Payment from your bank account will be made in accordance with the information you have provided in your request form. The Company will not be responsible for any loss which may arise by reason of any error, mistake or fraud with regard to such information.
NACHA Governance
This Agreement shall be governed by, and the Payment from your bank account made hereunder shall be made in accordance with, the applicable rules of the National Automated Clearing House Association (NACHA).
Payment Initiation & Business Agreements
The Payment from your bank account will be initiated by the Company within the time specified in the applicable service agreement, contract, or other existing or future arrangement for deposits between you and the Company (collectively, the "Business Agreements") and these Terms and Conditions shall not alter, enlarge or diminish the existing rights and obligations of the parties under the Business Agreements.
Company Rights & Adjustments
The Company reserves the right: (a) to adjust future Payments from your bank account if any Payment previously made is found to be duplicative, processed incorrectly or not at all or in excess of or less than the required amount, (b) to choose the Payment system and any third-party service provider it may use, and (c) to initiate debit or payment entries and adjustments from any Payment entries made in error.
Limitation of Liability
The Company shall not be liable to you for any special, incidental or consequential damages arising from any breach of these Terms and Conditions, or as a result of any delay, error or omission in any Payment to be made, or from any act or omission of any financial institution, electronic funds transfer system, operator or third-party service provider, even if the Company has been advised of the possibility of such damages. Each party shall bear all of the respective fees and other charges assessed by its designated financial institution(s).
Modifications to Terms
These Terms and Conditions may be altered, changed, modified or assigned by the Company at any time by providing notice to you.
Returned Item Fee
I understand that if my payment is rejected, refused, returned, disputed, or reversed by my financial institution for any reason, the Company has the right to charge a returned item fee.
Recurring Payment Terms & Conditions
Company Reliance on Information
MySpending (referred to as the "Company"), is entitled to rely upon the information supplied by you in your enrollment form.
Automatic Bank Draft Processing
Each Automatic Bank Draft from your bank account will be made in accordance with the information you have provided in your enrollment form. The Company will not be responsible for any loss which may arise by reason of any error, mistake or fraud with regard to such information.
NACHA Governance
This Agreement shall be governed by, and all Automatic Bank Drafts from your bank account made hereunder shall be made in accordance with, the applicable rules of the National Automated Clearing House Association (NACHA).
Draft Initiation & Business Agreements
All Automatic Bank Drafts from your bank account will be initiated by the Company within the time specified in the applicable service agreement, contract, or other existing or future arrangement for electric and/or service between you and the Company (collectively, the "Business Agreements") and these Terms and Conditions shall not alter, enlarge or diminish the existing rights and obligations of the parties under the Business Agreements.
Delinquency & Company Rights
If an Automatic Bank Draft from your bank account is rejected and no other provision is made for payment on or before the due date, payment will be considered delinquent. The Company will have no obligation to provide notice of delinquency to you. The Company reserves the right: (a) to adjust future Automatic Bank Drafts from your bank account if any Automatic Bank Draft previously made is found to be duplicative, processed incorrectly or not at all or in excess of or less than the required amount, (b) to choose the Automatic Bank Draft system and any third-party service provider it may use, and (c) to initiate debit or payment entries and adjustments from any Automatic Bank Draft entries made in error.
Limitation of Liability
The Company shall not be liable to you for any special, incidental or consequential damages arising from any breach of these Terms and Conditions, or as a result of any delay, error or omission in any Automatic Bank Draft to be made, or from any act or omission of any financial institution, electronic funds transfer system, operator or third-party service provider, even if the Company has been advised of the possibility of such damages. Each party shall bear all of the respective fees and other charges assessed by its designated financial institution(s).
Modifications to Terms
These Terms and Conditions may be altered, changed, modified or assigned by the Company at any time by providing notice to you.
Suspension & Termination
Either party may suspend or terminate this Automatic Bank Draft process or authorization at any time upon e-mailing notice to the other party, which notice will be effective at the time of its receipt by the other party, although the effectiveness of any change, suspension or termination notice received by the Company within 10 days of any payment date may, at the election of the Company, be delayed until after such payment.
Returned Item Fee & Account Cancellation
I understand that if my payment is rejected, refused, returned, disputed, or reversed by my financial institution for any reason, the Company has the right to charge a returned item fee and to cancel my account from the autofunding option.