Online Bill Payment Terms and Conditions
Towpath Credit Union’s Bill Payment Service is an option within the Towpath Online for
Members (T.O.M.) service. By enrolling in the Bill Payment service, I understand that all rules and regulations for
T.O.M. also apply to the Bill payment service. Additional rules and regulations which apply to the Bill Payment service
are outlined below.
SERVICE DEFINITIONS
"Service" means the Bill Payment Service offered
by Towpath Credit Union. "Agreement" means these Terms and Conditions of the bill payment
and e-mail payment service. "Payee" is the person or entity to which
you wish a bill payment or e-mail payment to be directed or is the person or
entity from which you receive electronic bills or e-mail payments, as the case
may be. "Payment Instruction" is the information provided by you to
the Service for a bill payment or e-mail payment to be made to the Payee (such
as, but not limited to, Payee name, Payee account number, and Scheduled Payment
Date). "Payment Account" is the checking account from which bill
payments will be debited. "Business
Day" is every Monday through Friday, excluding Federal Reserve holidays or
any other day Towpath Credit Union is not open for business. "Scheduled
Payment Date" is the day you want the Service to debit your Payment
Account, unless the Scheduled Payment Date falls on a non-Business Day in which
case it will be considered to be the previous Business Day. "Scheduled
Payment" is a payment that has been scheduled through the Service but has
not begun processing.
BILL PAYMENT SCHEDULING
Transactions begin processing four (4) Business Days
prior to your Scheduled Payment Date. Therefore, the application will not
permit you to select a Scheduled Payment Date less
than four (4) Business Days from the current date. When scheduling payments,
you must allow for possible delays beyond the control of the Service, such as
delays in handling and delivery or the posting of payments by Payees or
financial institutions. The Service
bears no responsibility for such delays.
PAYMENT AUTHORIZATION AND PAYMENT REMITTANCE
By providing the Service with names and account
information of Payees to whom you wish to direct payments, you authorize the
Service to follow the Payment Instructions that it receives through the payment
system. In order to process payments more efficiently and effectively, the
Service may edit or alter payment data or data formats in accordance with Payee
directives. When the Service receives a Payment Instruction, you authorize the
Service to debit your Payment Account and remit funds on your behalf so that
the funds arrive as close as reasonably possible to the Scheduled Payment Date
designated by you. You also authorize the Service to credit your Payment
Account for payments returned to the Service by the United States Postal
Service or Payee. The Service will use its best efforts to make all your
payments properly. However, the Service shall incur no liability if the Service
is unable to complete any payments initiated by you because of the existence of
any one or more of the following circumstances:
If, through no fault of the Service, your
Payment Account does not contain sufficient funds to complete the transaction
or the transaction would exceed the credit limit of your overdraft account.
The payment-processing center is not working
properly and you know or have been advised by the Service about the malfunction
before you execute the transaction; You have not provided the Service with the
correct Payment Account information, or the correct name, address, phone
number, or account information for the Payee; and/or, Circumstances beyond
control of the Service (such as, but not limited to, fire, flood, or
interference from an outside force) prevent the proper execution of the
transaction and the Service has taken reasonable precautions to avoid those
circumstances.
PAYMENT METHODS
The Service reserves the right to select the
method in which to remit funds on your behalf to your Payee. These payment
methods may include, but may not be limited to, an electronic payment or a laser draft payment.
PAYMENT CANCELLATION REQUESTS
You may cancel or edit any Scheduled Payment
(including recurring payments) by following the directions within the
application. There is no charge for canceling or editing a Scheduled Payment.
Once the Service has begun processing a payment it cannot be cancelled or
edited, therefore a stop payment request must be submitted.
PROHIBITED PAYMENTS
Payments to Payees outside of the United States or its territories are prohibited through the Service.
EXCEPTION PAYMENTS
Tax payments and court ordered payments may be scheduled
through the Service; however, such payments are discouraged and must be
scheduled at your own risk. In no event shall the Service be liable for any
claims or damages resulting from your scheduling of these types of payments.
The Service has no obligation to research or resolve any claim resulting from
an exception payment. All research and resolution for any misapplied, improperly
posted or misdirected payments will be the sole responsibility of you and not that
of the Service.
ADDRESS OR BANKING CHANGES
It is your sole responsibility to ensure that
the contact information in your user profile is current and accurate. This
includes, but is not limited to, name, address, phone numbers and email
addresses. Changes can be made either within the application or by contacting
the Credit Union. All changes made are effective immediately for scheduled and
future payments paid from the updated Payment Account information. The Service
is not responsible for any payment processing errors or fees incurred if you do
not provide accurate Payment Account or contact information prior to the
transaction.
PAYEE LIMITATION
The Service reserves the right to refuse to pay
any Payee to whom you may direct a payment. The Service will notify you
promptly if it decides to refuse to pay a Payee designated by you. This
notification is not required if you attempt to make a prohibited payment or an
exception payment under this Agreement.
RETURNED PAYMENTS
In using the Service, you understand that Payees
and/or the United States Postal Service may return payments to the Service for
various reasons such as, but not limited to, Payee's forwarding address expired;
Payee account number is not valid; Payee is unable to locate account; or Payee
account is paid in full. In such cases, the Service will void the payment and
credit your Payment Account. You may receive notification from the Service.
INFORMATION AUTHORIZATION f
Your enrollment in the Service may not be
fulfilled if the Service cannot verify your identity or other necessary
information. Through your enrollment in the Service, you agree that the Service
reserves the right to request a review of your credit rating at its own expense
through a credit reporting agency. In addition, you agree that the Service
reserves the right to obtain financial information regarding your account from
a Payee or your financial institution (for example, to resolve payment posting
problems or for verification).
DISPUTES
In the event of a dispute regarding the Service,
you and the Service agree to resolve the dispute by looking to this Agreement.
You agree that this Agreement is the complete and exclusive statement of the agreement
between you and the Service which supersedes any proposal or prior agreement,
oral or written, and any other communications between you and the Service
relating to the subject matter of this Agreement. If there is a conflict
between what an employee of the Service or Member Service Department says and
the terms of this Agreement, the terms of this Agreement will prevail.
ASSIGNMENT
You may not assign this Agreement to any other
party. The Service may assign this Agreement to any future, directly or
indirectly, affiliated company. The Service may also assign or delegate certain
of its rights and responsibilities under this Agreement to independent
contractors or other third parties.
NO WAIVER
The Service shall not be deemed to have waived
any of its rights or remedies hereunder unless such waiver is in writing and
signed by the Service. No delay or omission on the part of the Service in
exercising any rights or remedies shall operate as a waiver of such rights or
remedies or any other rights or remedies. A waiver on any one occasion shall
not be construed as a bar or waiver of any rights or remedies on future
occasions.
CAPTIONS
The captions of sections hereof are for
convenience only and shall not control or affect the meaning or construction of
any of the provisions of this Agreement.
GOVERNING LAW
This Agreement shall be governed by and
construed in accordance with the laws of the State of Ohio, without regard to its conflicts of
laws provisions.
THE FOREGOING SHALL CONSTITUTE THE SERVICE'S
ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL THE SERVICE BE
LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR
EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY
THEREOF) ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR MAINTENANCE OF THE
EQUIPMENT, SOFTWARE, AND/OR THE SERVICE.
I HAVE READ AND UNDERSTAND THE FOREGOING
AGREEMENT AND AGREE TO BE BOUND BY ALL OF ITS TERMS.
Terms and Conditions of T.O.M. and the Bill payment Service are posted
and available to our members at our Web site: www.towpathcu.com