Bill Pay Terms and Conditions

Bill Payments

You may make payments through our Bill Payment Service to any business, person or professional (“PAYEE”) that has an address which can verified. BILL PAYMENTS may be made only to Payees with a United States payment address. Bill Payment Service reserves the right to refuse to accept any bill payment transaction. BILL PAYMENTS for alimony, child support, taxes, government fees, or court ordered payments are not always accepted. You can make these payments, but the Bill Payment Service does not guarantee that it will be accepted or posted in a timely fashion.  You must do so at your own risk.

1. BILL PAYMENTS will be sent to the PAYEE either electronically or by paper check mailed to the PAYEE via the U.S. Postal Service. The choice of electronic or paper check is solely at the discretion of our Bill Payment Service. Checks, electronic payments, and withdrawal orders of any kind can be drawn on your Account in any order. You should be aware that other transactions (such as ATM, telephone banking, on-line transfers or in-branch withdrawals) may affect the amount of funds available to make your payment.
2. When you schedule a bill payment transaction, you authorize Salem Co-operative Bank to reduce the Account balance accordingly. If the available balance in the Account is not sufficient to make payments you have authorized, Salem Co-operative Bank may either refuse to pay the item or make the payment and thereby overdraw the account. In either event, you are responsible for any insufficient funds and overdraft charges that may be imposed as stated in Salem Co-operative Banks Schedule of Fees and Disclosures. Salem Co-operative Bank reserves the right to refuse to honor payment requests that may reasonably appear to be fraudulent or erroneous.
3. When a BILL PAYMENT is scheduled, an estimated delivery date is given based on the method of delivery being used to make the payment. However, payments should be scheduled at least five (5) business days before the business day on which a bill payment is due to ensure that Bill Payment Service has sufficient time to process and deliver the payment. Bill Payment Service is not responsible for payment delivery delays caused by the U.S. Postal Service or for payment processing delays after the PAYEE has received the payment. Any charges imposed as a result of your failure to transmit bill payment transactions at least five (5) business days before a payment is due are your responsibility. Salem Co-operative Bank’s responsibility for any late payment beyond this timeframe is strictly limited to the late charge only, up to a MAXIMUM of $50. The Bill Payment Service is not responsible for finance charges, interest, indirect, incidental, special or consequential damages related to the late payment.
4. Bill Payment Service may be used to authorize automatic recurring BILL PAYMENTS of repetitive bills. You may schedule recurring payments to be automatically initiated for a fixed amount on a weekly, biweekly, monthly, quarterly or annual basis. The day on which the payment is to be sent is referred to as the “Date/Recurrence.” If the payment date/recurrence is scheduled for a non-business day, it will be processed on the prior business day.

Stopping BILL PAYMENTS

The following steps may be taken to delete or stop pending BILL PAYMENTS:

1. Deleting Payments. If you have scheduled a BILL PAYMENT and would like to cancel the payment, you must do so before the payment is processed. The time varies based on the settlement method being used for the payment. If you cannot access the on-line banking service to request that the payment be deleted, please contact Salem Co-operative Bank at 603-893-3333 for further assistance prior to the cut-off time.
2. Liability for Failure to Delete a Payment. You cannot delete or cancel a payment after it has been processed. Salem Co-operative Bank is liable only if you notify us at least one (1) business day or more before the scheduled payment date. Otherwise, Salem Co-operative Bank is not responsible for any indirect, incidental, special or consequential damages, except to the extent such limitation of liability is not permitted by law.
3. Stopping Payments. Once the on-line payment has been processed, you CANNOT delete or stop BILL PAYMENTS settled electronically. You may be able to stop a BILL PAYMENT only if it has been paid by paper check. To stop an on-line paper payment, contact Salem Co-operative Bank’s customer service at 603-893-3333. Salem Co-operative Bank will only be able to stop the on-line check payment if the paper check has not cleared and is able to process the stop payment request before the check clears. To be effective, this type of stop payment request must precisely identify the name of the Payee, the Payee-assigned account number, payment amount, and date you scheduled the payment to be processed. If you call, Salem Co-operative Bank will also require you to put your request in writing and get it to us within fourteen (14) calendar days after you call. Salem Co-operative Bank will charge your account our regular fee for each stop payment order you give. Salem Co-operative Bank will not be responsible for failing to act on a stop payment if you do not give us the correct Payee information or if we do not have a reasonable opportunity to process the stop payment order.