Sunbit Card – Payment Authorization
Authorization to Seek Payment on Your Account.
You authorize TAB Bank (together with its successors, assigns and agents, Sunbit, Inc. and other service providers, “we” “our” or “us”) to seek payment from the account you specified on your card application or from any substitute account you later specify or your financial institution later provides (the “Account”) on (or soon after) the due dates specified on each of your periodic statements (or on any alternative dates to which you and we agree) by either (1) initiating a card charge to the Account if you have selected to repay by debit card; or (2) creating and presenting or depositing a remotely created check (“RCC”) drawn on the Account if you have elected to repay by RCC (such card charges or RCCs, “Payments”). (RCCs generally look like checks you would write, but they do not have your signature. They generally post to your Account in the same way as regular checks you write.)
The amounts of such Payments will be (A) the amount specified on your periodic statements as the “Minimum Payment Due,” if you elect to make only minimum monthly payments, (B) the “New Balance,” if you elect to pay your balance in full each month, or (C) any alternative amount to which you and we may agree except that we will deduct from any of these the amount of any additional payment you may make after the date of the applicable periodic statement but before the date we submit such Payment for processing. (For example, if you have elected to pay the Minimum Payment Due, this amount is $100, your due date is January 15 and you make an additional $25 payment on December 31 (two weeks before we process your debit), we will debit only $75 on January 15 instead of $100.) If the amount of any Payment would exceed the balance of your Sunbit Card Account as of the date on which we submit such Payment for processing, you authorize us to reduce the amount of the Payment to equal your then-current balance. Instead of or in addition to any Payments described above, you authorize us to initiate Payments on your Account for any amount and on any date that you subsequently direct by phone, email or other method we make available.
Authorization to Vary Amounts.
You have the right to receive written notice if a Payment will vary from the amount authorized above. We will generally provide at least 10 days advance written notice of any Payment that varies from the amount you have authorized. However, you agree that we need not provide written notice if the amount of the Payment is less than the amount authorized above or no more than 110% or $30, whichever is greater, in excess of this amount.
Authorization to Correct Payments and Account Information.
In the event that we make an error in processing a Payment, you authorize us to correct the error by crediting or debiting the Account in the amount of such error on or after the date such error occurs. If there is any missing or erroneous information with respect to your Account or the associated financial institution, you authorize us to verify and correct such information.
Confirmation of Account Status.
To help us determine whether a Payment under this Authorization will be successful, you authorize us to initiate an authorization request, non-monetary entry or similar entry to the Account and/or to obtain balance information from the financial institution holding the Account. We are not obligated to initiate any Payment under this Authorization if we receive information suggesting that it will likely fail.
Reinitiating Rejected Payments.
In the event that a Payment is rejected, you authorize us to reinitiate it up to two times or any greater number of times permitted by network rules. However, you agree that we are under no obligation to reinitiate any rejected Payments. You understand that your financial institution may impose fees in connection with rejected Payments, and you agree that we do not have any liability to you for such fees. If you know that a Payment will be rejected by your financial institution (e.g., because there is not enough money in your Account), you should contact us so that alternate arrangements can be made.
Termination by You or Us.
You understand that you may terminate this Authorization by contacting us directly at 855-678-6248 or 10940 Wilshire Blvd., Ste. 1850, Los Angeles, CA 90024 in such time as to afford us and your financial institution a reasonable opportunity to act on your request. In any event, we will typically comply with a termination request received at least three business days before the payment due date on which the termination is to be effective. We may terminate your enrollment in recurring Payments at any time and for any reason, including excessive returned payments. If you cancel this Authorization or if we terminate electronic Payments to your Account, you understand that you will be responsible for making your payments by another payment method. Terminating this Authorization does not affect your duty to repay your underlying obligation. Your authorization in no way limits any right you may have under federal law to stop payment of a preauthorized electronic transfer by contacting your financial institution.
You promise that your Account is legitimate, open and active and that you are an authorized signer on the Account. You understand that this Authorization is subject to applicable law and network rules.
BY CLICKING THE “I AGREE” BUTTON BELOW, YOU ARE ELECTRONICALLY SIGNING AND AGREEING TO THIS RECURRING PAYMENT AUTHORIZATION. YOU ACKNOWLEDGE THAT YOU HAVE READ, PRINTED/SAVED, UNDERSTAND, AND AGREE TO BE BOUND BY THE TERMS OF THIS AUTHORIZATION. WE WILL EMAIL YOU A COPY OF THIS AUTHORIZATION TO THE EMAIL ADDRESS SPECIFIED BELOW AFTER YOU ELECTRONICALLY SIGN IT. IF YOU DO NOT WISH TO MAKE RECURRING PAYMENTS, YOU SHOULD CLOSE THIS BROWSER SESSION OR CLICK “I DO NOT AGREE” BELOW.