People Pay Agreement

 

This Online Payment Authorization and Agreement (the “Agreement”) states the conditions for the People Pay Service (the “ Service ”) that will enable you to perform the transactions described in this Agreement. When you use the Services you agree to the terms of this Agreement. These terms and conditions are in addition to those outlined in the "Terms and Conditions of Your Accounts" which apply to any account you have with us. If the terms and conditions of this Agreement conflict with those contained in the "Terms and Conditions of Your Accounts"; the "Terms and Conditions of Your Accounts" will control. By clicking on the button by which you elect to enroll in the Service, you acknowledge that you have read, understand and agree to the terms in this Agreement.

By providing Modern Woodmen Bank with the phone number or email information of the payees to which you wish to direct payment, you authorize Modern Woodmen Bank to follow the payment instructions that are entered through the Service. Your payment will be issued electronically, via Automated Clearing House (“ACH”) or Paypal, depending on the payment method agreed to by the payee.

An ACH payment request submitted prior to the 3:00 p.m. Central Time (CT) cutoff will be processed on the same business day. ACH payment requests submitted after the cutoff time of 3:00 p.m. CT will be processed the next business day. All ACH payments requested during weekends and holidays will be processed the next business day. Paypal transactions are processed immediately.

When Modern Woodmen Bank acts on a payment instruction, you authorize us to charge your Modern Woodmen Bank account and remit funds on your behalf.

While we anticipate that we will complete most transactions on the day you designate, it is possible that, due to circumstances beyond our control (Circumstances beyond Modern Woodmen Bank’s control (such as, but not limited to, fire, flood, or interference from an outside force) preventing the proper execution of the transaction and Modern Woodmen Bank has taken reasonable precautions to avoid those circumstances.). Delays may also occur if the payee does not reply to the electronic message from MWABank People Pay and complete the setup instructions. The payee has 10 days to reply to your request.

Our receipt of the payment instruction authorizes us to debit your designated account and to remit funds on your behalf to the designated payee. We will perform the Service in such a manner as to allow funds to arrive at the designated payee's location within a reasonable time frame dependent upon the payment method agreed upon by the payee. You also authorize us to credit your account if funds are returned to us by any payee.

Modern Woodmen Bank will make every effort to ensure all payments are processed properly. However, Modern Woodmen Bank shall incur no liability if it is unable to complete any payments initiated through Modern Woodmen Bank because of the existence of one or more of the following circumstances:

(1) Your account does not contain sufficient funds to complete the payment. Payments are based on available funds as described in Modern Woodmen Bank’s Funds Availability Schedule;

(2) Modern Woodmen Bank People Pay is not working properly and you know or Modern Woodmen Bank has advised you, before you execute the transaction, not to use the service due to a temporary malfunction;

(3) The payee delays with their payment instructions;

(4) The payee has not provided Modern Woodmen Bank with all the necessary information for to direct payment;

(5) You request a payment in an amount over the maximum allowed of $2,000.00;

(6) Circumstances beyond Modern Woodmen Bank’s control (such as, but not limited to, fire, flood, or interference from an outside force) preventing the proper execution of the transaction and Modern Woodmen Bank has taken reasonable precautions to avoid those circumstances;

 

(7) Your MWABank People Pay service may be disabled due to inactivity. If your account remains inactive for a period of 3 months it may be disabled.

If Modern Woodmen Bank causes an incorrect amount of money to be removed from your Modern Woodmen Bank account or causes money from your Modern Woodmen Bank account to be directed to a person or entity that does not comply with the payment instructions provided by the payee and none of the above nine (7) exceptions apply, Modern Woodmen Bank shall be responsible for returning the improperly transferred funds to your Modern Woodmen Bank account. This liability is subject to your duty to notify us within 60 days from when your periodic statement is made available to you, as disclosed below.

THE FOREGOING SHALL CONSTITUTE MODERN WOODMEN BANK’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL MODERN WOODMEN BANK 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 MODERN WOODMEN BANKPEOPLE PAY SERVICE (P2P).

Charges and Fees - Please refer to the Truth in Savings Disclosure for the account type you own.

Insufficient Funds - If you have instructed Modern Woodmen Bank to make a payment for which there are insufficient available funds in your Modern Woodmen Bank account, Modern Woodmen Bank will not make the payment and will notify text messaging or email depending on your contact selection to receive alerts.

Payee Limitation - Modern Woodmen Bank reserves the right to refuse to pay any payee to whom you may direct a payment. Modern Woodmen Bank is obligated to notify you promptly if it decides to refuse to pay a payee designated by you.

Alterations and Amendments - Modern Woodmen Bank may change payment features, applicable fees and service charges from time to time. In such event, Modern Woodmen Bank shall send an e-mail notice to your e-mail address, as it appears on our records, if the changes are unfavorable prior to the change. We may also notify you via U.S. mail. Any use of this payment service after the change(s) take(s) effect will constitute your agreement to such changes.

User Confidentiality - Modern Woodmen Bank identifies users by their unique UserID, Password and Each person authorized to withdraw from an account will be issued a separate UserID and Password. You agree not to give or make available your UserID and Password. If you believe that your UserID and/or Password has been compromised, you must immediately notify Modern Woodmen Bank at 1-877-255-2265 and change your password.

 

Inactive Online Accounts

(1) Modern Woodmen Bank may deactivate your payment service if it is not utilized for a period of three months.

(2) Modern Woodmen Bank may deactivate your internet access if it is not utilized for a period of three months.

Information Authorization - You agree that Modern Woodmen Bank reserves the right to obtain financial information regarding your transaction from a payee or financial institution to resolve payment posting problems.

Disputes - In the event of a dispute regarding the payment service, you and Modern Woodmen Bank 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 Modern Woodmen Bank which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Modern Woodmen Bank relating to the subject matter of this Agreement. If there is a conflict between what one of Modern Woodmen Bank’s employees says and the terms of this Agreement, the terms of this Agreement shall control.

Assignment - You may not assign this Agreement to any other party. Modern Woodmen Bank may assign this Agreement to any future, directly or indirectly, affiliated company. Modern Woodmen Bank may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

No Waiver - Modern Woodmen Bank shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Modern Woodmen Bank. No delay or omission on the part of Modern Woodmen Bank 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.