Revocation of ACH Credit and Debit Authorization: Understanding the Process

SAFE Federal Credit Union members can use the Loan Payment feature to make loan payments online, but there are certain limitations and restrictions to be aware of. Before proceeding with your payment, it's essential to understand that this authorization may be revoked by contacting SAFE Federal Credit Union at 1-800-763-8600 or 803-469-8600 before 2:00 pm EST on the Selected Date if the processing of the payment has not begun.

When making an ACH (electronic) debit payment, you authorize a one-time debit of the account selected or the account associated with the debit card, as applicable, for the Total Amount on or after the Selected Date. For payments made using a checking or savings account from another institution, those processed after 2:00 EST will be processed on the next Business Day.

On the other hand, debit card payments should be scheduled at least three (3) business days prior to the due date for timely processing. To complete your SAFE Federal Credit Union loan payment, you need to select your payment method, choose the loan you want to make a payment on, enter the amount of the payment, and confirm the date of payment.

It's also important to note that unless otherwise required by specifically applicable laws, payments received by mail by 5:00 PM Eastern Standard Time will receive credit that day, while payments made in any other manner, including in person, will be credited the same day they are received. The term 'Business Day' refers to Monday through Friday, except Federal Reserve holidays.

For your records, please save a copy of this payment information. Additionally, remember that the term 'you' or 'your' refers to the user of online banking services and the Loan Payment feature. This ACH and Debit Card Authorization is part of and subject to your eSign Consent, Online and Mobile Banking Agreement, Membership Application and Membership, Account and Account Services Agreement.

In conclusion, SAFE Federal Credit Union's External Loan Payments allow members to make loan payments on most SAFE Federal Credit Union loans, excluding mortgage loans and credit card loans. By understanding the process and limitations, you can ensure a smooth and efficient payment experience.