ACH Recurring Payment Authorization Form
Schedule your payment to be automatically deducted from your checking or savings account.
Recurring Payments Will Make Your Life Easier:
- It’s convenient (saving you time and postage)
- Your payment is always on time (even if you’re out of town), eliminating late charges
Here’s How Recurring Payments Work:
You authorize regularly scheduled charges to your checking or savings account. You will be charged the amount indicated below each billing period. The charge will appear on your Deserve monthly account statement as “ACH PAYMENT” or “AUTO ACH PAYMENT”. You agree that no prior notification will be provided unless the date or amount changes, in which case you will receive notice from Deserve at least 10 days prior to the payment being collected.
My Consent and Agreement for Recurring AutoPay/Preauthorization Payments
I understand that under the federal E-SIGN Act, Deserve can deliver information and required disclosures to me electronically and can use electronic records and electronic signatures in connection with my transactions with Deserve.
I am the authorized signer on this account. I authorize Deserve to make regularly scheduled charges to my checking/savings account or debit card. I also acknowledge the following: 1) Origination of electronic funds transfers (EFT) to my account must comply with US Law and the Rules of the National Automated Clearing House Association. 2) If the transfer date falls on a weekend or holiday, my EFT will be credited as of the next business day. 3) My EFT will be established within 15 business days after my request is received by Deserve. If my next scheduled payment is within those 15 business days, I must make payment in another manner as the EFT may not have taken effect. 4) This authorization will remain in effect until I cancel it in writing, and I agree to notify Deserve, Inc. in writing of any changes in my account information or termination of this authorization at least 15 days prior to the next billing date. 5) I understand that because this is an electronic transaction, and may be withdrawn from my account as soon as the above noted periodic transaction dates. 6) If the EFT is returned for any reason, including non-sufficient funds, (NSF). Deserve may at its discretion attempt to process the charge again within 30 days, and I further agree to an additional $37.00 (thirty-seven dollar) charge for each returned NSF which will be initiated as a separate transaction from the authorized recurring payment. 7) I agree not to dispute this recurring billing with my bank so long as the transactions correspond to the terms indicated in this authorization form.
Recurring AutoPay/Preauthorization Payment Options
I understand I have two payment options available:
(1) Minimum Payment Amount: Each month, Deserve will debit my AutoPay Bank Account by the “Minimum Payment Amount” referenced in my monthly statement OR the “Statement Balance” whichever is the lower of the two amounts when the AutoPay Payment begins processing.
Deserve will debit my AutoPay Bank Account each month even if I made other payments between the statement issuance date and AutoPay Payment Date, including if I paid the “Minimum Payment Amount”. No debit will be made if I have a zero balance when the AutoPay Payment begins processing but if I select this option, I understand I may be charged interest on my account balance.
(2) Monthly Statement Balance: Each month, Deserve will debit the “Statement Balance” OR “Monthly Statement Balance” referenced in my monthly statement, whichever is the lower of the two amounts when the AutoPay Payment begins processing. The range of this automatic payment option could be as little as $0.01 up to my total credit line as reflected on my monthly statement.
Deserve will debit my AutoPay Bank Account each month even if I made other payments between the statement issuance date and AutoPay Payment Date, including if I paid the “Statement Balance”. No debit will be made if I have a zero balance when the AutoPay Payment begins.
For either automatic payment option that I select, I understand Deserve will not debit my account by an amount that will cause my credit card account to have a credit balance. Deserve will only transfer funds in the amounts indicated on my monthly statement and per the payment option I select.
Important AutoPay/Preauthorized Payments Information
I understand that payments will be deducted electronically from my banking account via Automatic Clearing House (ACH) payment.
I understand that I can’t schedule one-time payments more than 30 days in advance.
I understand that payments, ACH withdrawals, and my Deserve account records are updated on business days. Business days are weekdays (not Saturdays or Sundays) and are not Federal or bank holidays.
I understand that ACH Payments are subject to a 7-day hold, and though payments may be reflected in my account, I may be unable to use all of my available credit until the payment is cleared.
I understand I have the right to stop payment. If I have authorized Deserve to make regular payments out of my account, I can stop any of these payments. Here’s how:
1. Call Deserve at 1-800-316-7258. If I call, Deserve may also require me to put my request in writing and get it to them within 14 days after I call.
2. Write Deserve at PO Box 1286, Menlo Park, CA 94026, in time for them to receive my request 3 business days or more before the payment is scheduled to be made.
3. If I believe there was an error in the payment amount debited from my bank account, I will call or write Deserve using either of the methods described above.
Deserve’s Liability For Failure To Stop Payment Of Preauthorized Transfer:
If I order Deserve to stop one of my payments 3 business days or more before the transfer is scheduled and Deserve does not do so, Deserve will be liable for my losses or damages.
I understand I ought to please print or download a copy of this agreement for my records. If I have any questions, I’ll call Deserve at 1-800-316-7258 or write them at:
PO Box 1286
Menlo Park, CA 94026