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Autopay Authorization

You may authorize us to initiate “AutoPay” payments under your Customers Bank Cardholder Agreement (the “Cardholder Agreement”) by linking your credit card account to your checking or savings account (“AutoPay Account”) either through the Mobile App or by calling us at 1-866-405-0824. If you do, each month we will automatically deduct the specified amount from the AutoPay Account. This Authorization is part of the Cardholder Agreement. All terms used in this Authorization and not otherwise defined are defined in the Cardholder Agreement.

AutoPay Payments Will Make Your Life Easier

  • AutoPay payments are convenient (saving you time).
  • So long as you keep sufficient funds in your AutoPay Account, your payment is always on time, eliminating late charges.
  • You may choose to set up from one of two payment methods, a one-time payment or a recurring monthly payment.
  • You also have three payment options to choose from, which ranges from a minimum balance to the entire Current Balance on your monthly statement (or more) and ensure that you are not charged interest so long as you keep sufficient funds in your AutoPay account.

Here’s How AutoPay Payments Work

If you execute either method, the One-Time Payment Authorization or the Recurring Monthly Payment Authorization, the payments initiated from the AutoPay Account will be scheduled to be paid on the payment due date.

The amount of the payment will be based on your credit card billing statement and the payment option you elect. Either of the two payment methods allows three payment options, which include:

Option One/ Minimum Balance Due. If you select Option One, each payment will equal the Minimum Payment Due specified on your most recent monthly statement. If you select Option One, we will generally charge interest each month.

Option Two/ Current Balance. If you select Option Two, each payment will equal the Current/ Card Balance specified on your most recent monthly statement. If you select Option Two, we will generally NOT charge interest each month so long as you have sufficient funds in the AutoPay Account and the payment is successful.

Option Three/ Statement Balance. If you select Option Three, each payment will equal the entire balance of your Account as of the payment date. This generally includes the entire Current Balance specified on your most recent monthly statement plus the amount of all credit card transactions posted from the statement date to the AutoPay date (less any payments you have made and any credits you have received during this period). If you select Option Three, we will generally NOT charge interest each month so long as you have sufficient funds in your AutoPay Account and the payment is successful.

Regardless of which option you select, we will send you an email notification each time we initiate an AutoPay payment. The amount of the AutoPay payment will not be reduced by any payments you make from the statement date to the AutoPay payment date, provided that the payment amount will never exceed the Account balance as of the time we initiate the AutoPay payment.

You promise that the AutoPay Account is your bank account and you are entitled to make payments to us from the AutoPay Account. So long as this Authorization remains in effect, you agree to promptly advise us of any account that replaces the AutoPay Account, and you authorize us to initiate payments in accordance with this Authorization from such replacement account.

Important AutoPay/Preauthorized Payments Information

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

I understand that this Authorization will remain in effect until I cancel it as described below, and I agree to notify Customers Bank in writing of any changes in my account information or termination of this Authorization at least 15 Business Days prior to the next billing date.

I understand that I can’t schedule one-time payments more than 30 days in advance.

I understand that payments, ACH withdrawals, and my credit card Account records are updated on Business Days. Business Days are Monday through Friday excluding U.S. federal and bank holidays.

If the payment dates fall on a weekend or holiday, I understand that the payments will be processed on the next business day. For ACH debits to my checking or savings account, I understand that because these are electronic transactions, these funds may be withdrawn from my AutoPay Account as soon as the above noted periodic transaction dates. In the case of an ACH transaction being rejected for Non-Sufficient Funds (NSF) I understand that Customers Bank may charge my account a $10 fee for each returned payment.

I understand that Customers Bank will not attempt to complete additional Auto payments if the first scheduled payment was unsuccessful and that it is my responsibility to ensure that there are sufficient funds for each scheduled payment.

I understand that AutoPay payments could be subject up to a 7-business day hold, and though payments may be reflected in my 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. If I have authorized Customers Bank to make regular payments out of my AutoPay Account, I can stop any of these payments. Here’s how:

  1. Call Customers Bank at (866) 405-0824. If I call, Customers Bank may also require me to put my request in writing and get it to them within 14 days after I call, to allow time for them to receive my request 3 business days or more before the payment is scheduled to be made.
  2. Write Customers Bank at PO Box 57752, Murray, UT 84157, in time for them to receive my request 3 business days or more before the payment is scheduled to be made.
  3. If I believe there was an error in the payment amount debited from my bank account, I will write Customers Bank as described in the section of your Cardholder Agreement titled “What To Do If You Find a Mistake On Your Statement.”

I acknowledge that the origination of ACH transactions to or from my AutoPay Account must comply with the provisions of U.S. law. I certify that I am an authorized user of this AutoPay Account and will not dispute these scheduled transactions with Customers Bank, so long as the transactions correspond to the terms indicated in this authorization form.