Effective Date: December 1, 2010
Table of Contents
This Agreement between you and Payment Systems Group, Inc. (PSG) governs the use of Payment Services. These services permit Payment Systems Group, Inc. customers (partners, resellers, payments processors, consumers, and other business customers) to perform a number of Payment Service functions on accounts linked to our Service.
When you use any of the Services described in this Agreement, or authorize others to use them, you agree to the terms and conditions of the entire Agreement.
You may use our Services to:
PSG offers businesses (partners, resellers, and payment processors) additional services and reports.
Processing of ACH Transactions: ACH transactions will be made from designated checking or savings accounts according to the schedule established and agreed upon.
Cut-off Times for ACH Transactions: Changes to any scheduled transaction must be made by 12 PM CST the banking date prior to the scheduled transaction date. Banking days do not include weekends or banking holidays as determined by the Federal Reserve (http://www.fededirectory.frb.org/).
Processing of Checks: Checks will be printed from a designated account under the control of Payment Systems Group, Inc.
Cut-off Times for Payments: Changes to any scheduled transaction must be made by 12 PM CST the banking date prior to the scheduled transaction date. Banking days do not include weekends or banking holidays as determined by the Federal Reserve (http://www.fededirectory.frb.org/).
Payments, credits, and chargebacks will be done according to the rules and regulations of the issuing card bank and processor.
Transactions can be for any amount between $0.01 and $99,999.99. If you do not have a sufficient balance, including available credit under any overdraft protection plan, we may refuse to complete the transaction. In either case, we reserve the right to impose Non-Sufficient Funds (NSF) fees, and no further attempt may be made by PSG to issue the payment or process the transfer request. If your transfer exceeds the maximum amount stated above, it will not be processed.
PSG is under no obligation to notify you if it does not complete a payment or transfer due to non-sufficient funds or credit, incorrect bank information, or any other reason. In all cases you are responsible for verifying the successful completion of the transaction.
You cannot change or cancel a transaction after the cut-off date (see Section III. Paragraphs A and B).
In order to cancel future-dated transactions, you must either cancel your account online, arrange for a different schedule online, or request cancellation of services in writing.
If you attempt to cancel a payment in accordance with the above instructions and we do not do so, we will be liable for your verified bank charges only.
It is your sole responsibility to contact PSG if any account information changes. You must notify PSG in writing within three (3) business days of any changes related to your account, including but not limited to personal information, bank account information, or any other transaction-related information. You are responsible for making your own account changes online or notifying PSG in writing.
You may incur charges under the following circumstances:
Online services are available 365 days a year and 24 hours a day, except during system maintenance and upgrades. When this occurs, a message will be displayed when you visit the affected web site.
Occasionally a Payee may choose not to participate in our Service or may require additional information before accepting payments. We will work with these Payees to encourage them to accept an electronic or paper draft payment from PSG. If we are unsuccessful, or if we determine that the Payee cannot process payments in a timely manner, we may decline future payments to this Payee. In the unlikely event that this occurs, we will promptly send you a notice. Any obligations that you wish to pay through our Services must be payable in U.S. dollars to a Payee located in the United States. We reserve the right to restrict categories of Payees to whom payments may be made using our Service.
We may change this Agreement at any time. For example, we may add, delete, or amend terms or services. It is your responsibility to visit this page to view the current Agreement. If you maintain your services after the effective date of a change, you indicate your agreement with the change.
Your Services remain in effect until they are terminated by
you or Payment Systems Group, Inc. You may cancel your service at any
time by notifying us of your intent to cancel in writing, by fax, email
If you choose to cancel your Services, any unprocessed payments may be canceled. You may, at the time of cancellation, determine whether any remaining funds in balance are to be forwarded to the Payee or refunded to you.
We may terminate your participation in our Services for any reason, including NSF, suspected fraud, reversed debits, or inactivity, at any time. We will try to notify you in advance, but we are not obligated to do so.
With our Services, we may send messages to your email address relating to agreement changes, debit and payment activity. If for any reason your email address changes or becomes disabled please notify PSG immediately so that we can continue to provide you with automated messages. You may change your email address online or notify us through our Contact Page.
No Payment Systems Group, Inc. or Payee employee, nor any company affiliated with PSG Services will contact you via email or phone requesting your user name or password. If you are contacted by anyone requesting this information please contact us immediately.
To initiate a transaction inquiry, please contact the appropriate Customer Service Center for the Service you are using. You may also contact us by using our Contact Page.
We will disclose information to third parties about your account or your transactions:
I authorize Payment Systems Group, Inc. to give instructions to and receive information from my Payee for the life of the account.
Contact us immediately if you believe your Services password has been compromised or if someone has changed the loan payable information on your account. The best way to minimize your loss is to contact us immediately. The unauthorized use of your Services could cause you to lose funds that are collected to be paid on your loans.
When you give someone your user name and password, you are authorizing that person to use your account, and you are responsible for all transactions that person performs while using your account. All transactions that person performs, even those transactions you did not intend or want performed, are authorized transactions.
Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions.
For your protection, logout after every online session and close your browser to ensure confidentiality.
If we fail or delay in making a payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount that is less than the amount per our agreeement, unless otherwise required by law, our liability shall be limited to contacting the Payee and requesting that any charges or fees be waived. If we make a payment or transfer in an erroneous amount that exceeds the amount per your service agreement, unless otherwise required by law, our liability will be limited to a refund of the amount erroneously paid. Unless otherwise required by law, in no event will PSG be liable to you for special, indirect or consequential damages including, without limitation, lost profits or attorney’s fees, even if we are advised in advance of the possibility of such damages.
If we do not complete a transaction for your account on time, or in the correct amount according to our Agreement with you, we will be liable for your bank fees only. However, there are some exceptions. For instance we will not be liable:
There may be other exceptions not specifically mentioned.
By using our Services, you acknowledge and agree that this Agreement sets forth security procedures for electronic banking transactions that are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures.
Funds subject to cancellation or refund activities may be subject to a three (3) banking day holding period for clearing purposes.
All notices required or permitted in this Agreement shall be in writing and may be delivered via U.S. Mail, courier services, fax, or email to the appropriate party at the address specified herein, or to such other address as Payment Systems Group, Inc. may designate, pursuant to this Section. Such notices shall properly identify the customer and the account. Any notices not properly identifying the customer and account may be ignored. PSG will not be obligated to respond to any inquiry with incorrect contact information, including, but not limited to, email or phone number(s).
For general questions, to request cancellation of debits and/or payments, or to report unauthorized transactions please contact us using our Contact Page.
Payment Systems Group, Inc.
Fax (314) 754-9978
You agree that we may provide you with all disclosures, notices and other communications about our Services, including this Agreement and any future amendments, in electronic form. We will provide all future notices by posting them on the Home Page for a period of at least 30 days.
You have the right to withdraw this consent, but if you do, we will immediately terminate your participation in our Services.