ACH One-Time Payment Authorization Form

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We offer you the options of making one-time ACH payments or authorizing automatic recurring monthly ACH payments.  By providing deposit account information and authorizing any electronic payment using the Nearside Business Corp., Inc. (“Nearside,” “we,” “us” and “our”) website, you understand and agree as follows:

You authorize Nearside to charge your Bank Account that you select, in an amount that you select, up to your Statement Balance or the total outstanding balance on your Nearside account, whichever is greater, on the transaction date you select from the bank account you have identified and authorized us to debit for such payment (the “Bank Account'').   Your payment will be an automated clearing house (“ACH”) debit from the Bank account you have identified and authorized us to debit for such payment.The charge will appear on your Nearside monthly account statement as “ACH PAYMENT” or “AUTO ACH PAYMENT”.  You agree that no prior notification will be provided before each payment.

The financial institution that holds your Bank Account, as represented by the bank routing number or debit card number, is authorized, directed and empowered to allow such electronic funds transfer to occur. This agreement is further subject to the Terms of Service provisions and Electronic Consent Policy you agreed to at the time of opening your account. Each ACH payment transaction will appear on the bank statement for the Bank Account. By authorizing any ACH payment, you also authorize us to initiate additional ACH credit or debit transactions to correct any erroneous payment transaction. If you authorize a payment transaction and the information you provide is erroneous in any way, we have no liability for the error and no obligation to correct the error. You certify that you are an authorized signer on the Bank Account, and that you will not dispute any payment you authorize, provided the payment corresponds to the terms of your authorization.

Consent and Agreement for One-Time Payments

I understand that under the federal E-SIGN Act, Nearside can deliver information and required disclosures to me electronically and can use electronic records and electronic signatures in connection with my transactions with Nearside.

I am the authorized signer on this account. I authorize Nearside to charge my Bank Account I select on the transaction date I select. I also acknowledge the following: 1) Each payment initiated under these ACH Payment Terms and Conditions must comply with U.S. Law and the Rules and Operating Guidelines of the National Automated Clearing House Association (NACHA), and I agree to be bound by the NACHA Rules and Operating Guidelines. 2) I understand and agree that if any payment date falls on a weekend or holiday, the payment may be initiated on the next business day. 3) I understand that One-Time Payments are electronic transactions, and payment may be withdrawn from my Bank Account immediately on each scheduled due date. 4) I have provided complete and accurate information about my Bank Account and agree to notify Nearside in writing of any changes in my Bank Account information or payment authorization at least 3 business days in advance of any scheduled payment date.

Important Payments Information and Acknowledgments

I understand that Nearside may debit my selected Bank Account each month on the due date indicated on my Nearside monthly statement, even if I made other payments between the statement issuance date and the due date up to the full statement balance.  No payment will be made if my Nearside Card has zero outstanding balance when my payment begins processing.

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 Nearside account records are updated on business days. Business days are weekdays (not Saturdays or Sundays) and are not Federal or bank holidays in Massachusetts or California.

I understand that ACH Payments are subject to up to a 7-day hold, and though payments may be reflected in my Nearside 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 on preauthorized and pre-scheduled payments. If I have authorized Nearside to make Recurring AutoPay payments out of my account, or have pre-scheduled a one-time payment at least 3 business days in advance of the scheduled payment date, I can stop any of these payments. Here’s how:

  1. Call Nearside at 1-888-516-2369 at least 3 business days before the payment is scheduled to be made.  If I call, Nearside may also require me to put my request in writing and get it to them within 14 days after I call.
  2. Write Nearside at Nearside Business Corp., Inc., PO Box 7775, PMB 68032, San Francisco, CA 94120-7775, or at in time for them to receive my request, and transmit it to Nearside 3 business days or more before the payment is scheduled to be made.

If I withdraw my authorization for a payment or stop a payment, I am still required to pay all outstanding amounts on my Nearside account when due. If I believe there was an error in the payment amount debited from my Bank Account, I will promptly call or write Nearside using either of the methods described above, or I will contact my bank.

Nearside’s Liability For Failure To Stop Payment Of Preauthorized Transfer:

If I order Nearside to stop one of my payments 3 business days or more before the transfer is scheduled and Nearside does not do so, Nearside will be liable for my losses or damages.

I understand I ought to print or download a copy of this agreement for my records.

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