Terms & Conditions - Electronic Funds Transfer (EFT) Single Withdrawal
"We," "us" and "our" mean the insurance company(ies) authorized to process One-time or Automatic Bank Payment withdrawals or Payment Card charges for insurance payments. "You," "your" and "yours" mean the person(s) authorizing the One-time or Automatic Bank Payment withdrawals or Payment Card charges for insurance payments. "Automatic payments" means either withdrawals automatically deducted from your designated bank account or charges automatically applied to your designated Payment Card on the scheduled due
dates for the amounts due. "Automatic Bank Payment" means electronic funds transfer (EFT) withdrawals automatically being deducted from your designated Bank Account on the scheduled withdrawal dates for the amounts due. "Payment Card" means any credit or debit card, including reloadable pre-paid cards. "Business day" means Monday through Friday, excluding our company holidays.
You authorize us to use a third party to process the authorized One-time or Automatic Bank Payment withdrawals or Payment Card charges.
Application of Payments
- 1. Funds withdrawn or charged will be applied only to the designated policy or its replacement.
- 2. Payments made after 6:30 pm Central Time may be posted on the next business day.
- 3. You agree to have the:
- a) Funds available in the designated bank account on the payment date, whether or not the date falls on a business day. (Note: It may take 3-5 business days for your bank account to reflect the payment.); or
- b) Funds available in the designated Payment Card account on the payment date, whether or not the date falls on a business day.
Payments Not Honored
One-time or Automatic Bank Payment withdrawals that are not honored for reasons such as insufficient funds may be resubmitted at our discretion. If we are unable to electronically withdraw the funds from your bank account or charge the payment to your Payment Card, any corresponding payment posted in good faith will be reversed from your policy and a cancellation notice may be issued.
Removal from Automatic Payments
If a payment is not honored, we may remove your policy from the Automatic payment method.
Excessive Returned Payments or Stopped Drafts/Charges
If we receive multiple returned Automatic Payments, your policy may become ineligible for the Automatic Payment process, set at our discretion.
Regarding cancellation notices: If we send you a cancellation notice for the designated policy, we will not process an Automatic Payment withdrawal for the amount due. To continue your coverage, you must pay the amount due by another method. Contact your agent for assistance.
NOTE: If we receive a request to cancel the policy, please check the status of the outstanding billing statement at that time. We will discontinue future Automatic payments once we process the request to cancel the policy; however, it is possible that an Automatic Bank Payment withdrawal or Payment Card charge may be processed about the same time as the policy cancellation.
Third-Party Use of Services
This one-time payment option shall only be used by actual and bona-fide customers of ours. You shall not use this one-time payment option, or any information contained herein, for any commercial use. Third-party commercial payment aggregators (third-party payment servicers or processors, or any other entities submitting payments on behalf of our customers) may not submit payments using this one-time payment option. You hereby agree to be liable to us for all interchange fees and merchant fees, and all other costs and fees associated with processing all payments submitted by you in violation of this section. You further agree to be liable to us for all other damages, costs, fees, expenses, and reasonable attorney fees incurred by us arising out of, or related to, your breach of this section and our enforcement thereof.
Exclusions of Warranties and Limitation of Liabilities
THE ONE-TIME BANK PAYMENT, AUTOMATIC BANK PAYMENT AND AUTOMATIC PAYMENT CARD PROCESSING SERVICES
AND RELATED DOCUMENTATION ARE PROVIDED ON AN "AS IS" BASIS WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
In addition, we do not warrant, guarantee or make any representations regarding the security of bank or Payment Card accounts, or that the web site is free from destructive materials, including, but not limited to, computer viruses, hackers, or other technical sabotage, nor does it warrant, guarantee or make any representations that access to this site will be fully accessible at all times, uninterrupted, or error-free.
IN NO EVENT WILL WE OR OUR AFFILIATES BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, COMPENSATORY, EXEMPLARY OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES, INCLUDING WITHOUT LIMITATION LOST OR MISDIRECTED APPLICATIONS, LOST PROFITS, LOST GOODWILL, OR LOST OR STOLEN PROGRAMS OR OTHER DATA, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY ARISING OUT OF OR IN CONNECTION WITH (1) USE OF THE WEBSITE, OR THE INABILITY TO USE THE WEBSITE BY ANY PARTY; OR (2) ANY FAILURE OR PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION; OR (3) LINE OR SYSTEM FAILURE OR THE INTRODUCTION OF A COMPUTER VIRUS, OR OTHER TECHNICAL SABOTAGE, EVEN IF WE OR OUR AFFILIATES, OR THE EMPLOYEES OR REPRESENTATIVES THEREOF, ARE ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF SUCH DAMAGES, LOSSES OR EXPENSES.
We use encryption to make your information unreadable as it passes over the Internet. Therefore, we strongly recommend that you use the latest version of your browser software for maximum security.
Billing Statements and Notices
You are responsible for reviewing any billing statements and notices mailed to you or otherwise presented to you via www.foremostpayonline.com. Billing statements and notices will continue to contain important information about your policy.
Storage of Information
Information stored on Foremost PayOnline® is kept under physical, electronic or procedural controls that comply with or exceed government and industry standards. We authorize our employees and agents to get information about you only when they need it to do their work for us. We require companies working for us to protect information. They agree to use it only to provide services we ask them to perform for us.
Changing or Stopping a One-Time Bank Payment Withdrawal
If you need to change or stop a One-time bank payment withdrawal after you have submitted your request, contact us at 1-800-532-4221 prior to 6:30 p.m. Central Time on the same business day that your transaction was submitted. After 6:30 p.m. Central Time, transactions for the day will begin processing and no changes can be made.
Discontinuing Automatic Bank Payment Withdrawals or Payment Card Charges
The authorization for Automatic payments remains in effect until we have received written notice from you of its termination, in such time and manner as to afford us a reasonable opportunity to act upon it. To discontinue Automatic payments, update your Foremost PayOnline account at www.foremostpayonline.com or send a signed, written request to Foremost Specialty Lines, Attention: PayOnline, P.O. Box 3218, Grand Rapids, MI 49501. Written notice should contain your policy number and your request to stop the automatic withdrawals. Please print and sign your name and date the request.
NOTE: Please allow up to two weeks for processing your request. Withdrawals scheduled within two weeks after your request may still take place. If you are signed up to have your payments automatically withdrawn electronically and decide to request a cancellation of your policy, please check the status of your outstanding bills at that time. Although we will discontinue future automatic withdrawals once we process your request to cancel your policy, it's possible that an automatic withdrawal may have begun to process around the same time as the policy cancellation.
Automatic Payments When Policy is Set Up for 12-Payment Plan
For your policy to be set up on a 12-payment plan, you must also be enrolled for automatic payments. If you are not, or if you stop automatic payments, the policy billing may be adjusted to a different payment plan and the payment schedule changed accordingly. (Not applicable in Colorado.)
If you are enrolled at www.foremostpayonline.com, you agree not to allow your user ID and password to be used by any unauthorized individuals. You are responsible for all payments authorized using Foremost PayOnline. If you permit other persons to use Foremost PayOnline, or your user ID and password, you are responsible for any transactions they authorize. If you believe your user ID and password have been lost or stolen or that someone may attempt to use www.foremostpayonline.com without your consent, you must notify us at once by calling the toll-free number in the "Contact Us" information in the paragraph below during normal business hours.
Maintaining Accurate Information
It is your sole responsibility to ensure that your contact and account information is current and accurate, as well as your bank or Payment Card account information. We are not responsible for any payment processing errors or fees incurred if you do not provide accurate account, bank account, Payment Card account or contact information. Account and contact information can include, but is not limited to, items such as your policy number, name, phone number, address, email address, and account or Payment Card account information. To change this information, either update your account and/or your bank account or Payment Card account at www.foremostpayonline.com or contact us as indicated below.
If you need to change information specific to your policy, such as your mailing address, property location or coverages, please contact your Foremost representative.
Amendments to Terms and Conditions
We reserve the right to change these Terms and Conditions at any time.
Method of Payment
If your policy has no outstanding balance at the time we receive a payment, we will credit the payment back to your account with a Foremost PayOnline reference number. For all other refunds, we will pay you by check. We will not initiate a deposit for these other types of refunds.
Foremost PayOnline is currently available at no charge. However, we reserve the right to charge fees for Foremost Payonline in the future. Any such fee may be amended from time to time in accordance with these Terms and Conditions. All other fees that currently apply to your policy or chosen payment plan remain in effect.
Any failure by us to act upon any breach of these Terms and Conditions shall not be deemed to constitute a waiver of any subsequent breach of that or any other term or condition, or of any right to thereafter enforce these Terms and Conditions.
You may write to us at: Foremost Specialty Lines, Attention: PayOnline, P.O. Box 3218, Grand Rapids, MI 49501. Or, you may call our Billing Department toll-free at 1-800-532-4221 between 8 a.m. and 7 p.m. Central Time, Monday − Friday.