AUTHORIZATION FOR VIABILL FREE INSTALLMENT LOANS
Authorization for Recurring Payments from Card and for One-Time ACH Debit for Balance in Full (“Authorization”)
Authorization to Seek Payment on Your Account. You authorize First Electronic Bank (together with its successors, assigns and agents, ViaBill, Inc. and other service providers, “we” “our” or “us”) to seek payment from the debit or credit card account specified on your credit application or from any substitute card account you later specify or your financial institution later provides (the “Card Account”) in U.S. Dollars in the amounts on or soon after the due dates specified in the Payment Schedule of your ViaBill Loan Agreement (the “Agreement”) (or on any alternative dates or amounts to which you and we agree) by initiating a charge or debit to or from the Account as applicable (each, a “Payment”). If you execute this Authorization on the same day as your Agreement, then your first Payment will occur on that day. If you instead execute this Authorization at a later date, Payments will begin on the first payment due date that is at least three days thereafter.
Authorization for ACH Debit to Deposit Account for the Entire Outstanding Balance if Card Account Payment Fails. In the event we are unable to collect any Payment after three attempts to your Card Account, you authorize us to initiate a one-time ACH debit from the deposit account on file with us (the “Deposit Account”) on or after the date such Payment fails. The amount of the ACH debit will be the full outstanding balance due under the Agreement, including fees.
Authorization to Vary Amounts. You understand that you have the right to receive notice in advance of any Payment amount that varies from the amount set forth in the Payment Schedule or your most recent payment. To receive advance notice of all varying amount payments, you may call us at 929-242-1110 or e-mail at firstname.lastname@example.org. You also understand that your scheduled installment payments set forth in the Payment Schedule may vary if you make early, late, or extra payments. Unless you elect to receive advance notice of varying payment amounts in the manner described above, you authorize us to vary the amount of any payment up to the amount owed under the Agreement.
Authorization for Late Fees and to Modify or Combine Payments. You authorize us to initiate separate Payments from the Card Account for each separate fee due under your ViaBill Loan Agreement such as a late fee. You also authorize us to combine multiple Payments that we may be initiating on the same day from your Card Account into a single Payment. Instead of or in addition to any Payments described above, you authorize us to initiate payments from your Card or Deposit Account for any amount and on any date that you subsequently direct by phone, email or other method we make available.
Authorization to Correct Payments and Account Information. In the event that we make an error in processing a payment, you authorize us to correct the error by crediting or debiting the Card or Deposit Account in the amount of such error on or after the date such error occurs. If there is any missing or erroneous information with respect to your Card or Deposit Account or the associated financial institution, you authorize us to verify and correct such information.
Confirmation of Card or Deposit Account Status. To help us determine whether a payment under this Authorization will be successful, you authorize us to initiate an authorization request, non-monetary entry or similar entry to the Card or Deposit Account and/or to obtain balance information from the financial institution holding the Card or Deposit Account. We are not obligated to initiate any payment under this Authorization if we receive information suggesting that it will likely fail.
Reinitiating Rejected Payments. In the event that a payment is rejected, you authorize us to reinitiate it up to three times or any greater number of times permitted by network rules. However, you agree that we are under no obligation to reinitiate any rejected payments. You understand that your financial institution may impose fees in connection with rejected payments, and you agree that we do not have any liability to you for such fees. If you know that a payment will be rejected by your financial institution (e.g., because there is not enough money in your Card or Deposit Account), you should contact us so that alternate arrangements can be made.
Termination by You or Us. You understand that you may terminate this Authorization, including any ACH debit authorization, by contacting us directly at 929-242-1110 or email@example.com in such time as to afford us and your financial institution a reasonable opportunity to act on your request. In any event, we will typically comply with a termination request received at least two business days before the payment due date on which the termination is to be effective. We may terminate your enrollment in recurring Payments at any time and for any reason, including excessive returned payments. If you cancel this Authorization or if we terminate recurring Payments from your Account, you understand that you will be responsible for making your payments by another payment method. Terminating this Authorization does not affect your duty to repay your underlying obligation. Your authorization in no way limits any right you may have under federal law to stop payment of a preauthorized electronic transfer by contacting your financial institution.
Miscellaneous. You promise that your Deposit and Card Accounts are legitimate, open and active and that you are an authorized signer on them. You understand that this Authorization is subject to applicable law and network rules. Each Payment will be processed in U.S. dollars, and, if it is converted into another currency, its amount may vary based on fluctuations in the applicable conversion rate.
BY CLICKING THE “I AGREE” BUTTON, YOU ARE ELECTRONICALLY SIGNING AND AGREEING TO THIS RECURRING PAYMENT AUTHORIZATION AND TO THE ACH DEBIT AUTHORIZATION. YOU ACKNOWLEDGE THAT YOU HAVE READ, PRINTED/SAVED, UNDERSTAND, AND AGREE TO BE BOUND BY THE TERMS OF THIS AUTHORIZATION. YOU MAY REQUEST A COPY OF THIS AUTHORIZATION AT ANY TIME BY CONTACTING VIABILL.