ACH Recurring Payment Authorization Form

See other Nearside legal documents

Schedule your payment to be automatically deducted from your checking or savings account.

We offer you the options of making one-time ACH payments or authorizing automatic recurring monthly ACH payments.  You are not required to agree to authorize automatic recurring monthly 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 make regularly scheduled charges to the bank account you have identified and authorized us to debit for such payment (the “Bank Account'').   Each payment will be an automated clearing house (“ACH”) debit from the Bank Account you have identified and authorized.  Each month you will pay the Monthly Statement Account Balance. 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.  

Your autopay authorization will remain in effect until you cancel the authorization by sending us notice of cancellation in writing at Nearside Business Corp., Inc., PO Box 7775, PMB 68032, San Francisco, CA 94120-7775, by calling us at 1-888-516-2369, or by emailing us at, or by providing a new authorization for Automatic Recurring Monthly Payments.  

You agree to notify us of termination of this Authorization at least three (3) business days prior to the next payment due date.  You may also notify the financial institution that holds your Deposit Account to stop any authorized payments at least three (3) business days before a scheduled payment date.  IF YOU REVOKE YOUR AUTHORIZATION FOR AUTOMATIC RECURRING MONTHLY PAYMENTS OR NOTIFY YOUR FINANCIAL INSTITUTION TO STOP PAYMENT, YOU WILL STILL BE RESPONSIBLE FOR MAKING ALL PAYMENTS THAT COME DUE UNDER YOUR AGREEMENT WITH US, either by authorizing a one-time ACH payment for each such payment due or by providing a new Automatic Recurring Payment Authorization.  You agree to notify us of any changes in your Deposit Account information at least three (3) business days prior to the next payment due date business days prior to the next payment due date.

Your Consent and Agreement for Recurring AutoPay/Preauthorization 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 the Bank Account I select.  I authorize Nearside to make regularly scheduled charges to the Bank Account that I select, on or around each due date indicated on my Nearside account monthly statement.  I also acknowledge the following: I am the authorized signer on this account.  I authorize Nearside to charge the 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 ACH 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. 5)  I understand that if I dispute any transaction, Nearside will be unable to reverse it or provide a refund, so long as I have authorized the transactions, and the transactions correspond to the terms indicated in this authorization form, except as expressly required by applicable law or payment network rules.

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 the AutoPay Payment begins processing.  

I understand that payments will be deducted electronically from my banking account via Automatic Clearing House (ACH) payment.

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.

Where do you want to start?
Select the product you want to sign up for today.
Create an LLC
Get your LLC filed without all of the legal headache.
  • Plans start at just $39/year
  • Simple 5 minute form to get started
  • All the add-ons you need to get your business started off right
Business Banking
The free business bank account designed for small business owners.
  • Separate your personal and business finances
  • No monthly fees or minimums
  • Perks, cashback, and rewards