Terms & Conditions

FORUM Credit Union
Business Bill Payment Agreement & Disclosure

The Business Bill Payment Agreement and Disclosure is the contract, which covers your and our rights and responsibilities concerning bill payment services offered to you by FORUM Credit Union (FORUM). In this Agreement, the words "you", "your", and "yours" mean those who sign the application or account card as applicants, joint owners, or any authorized users. The words "we", "us", and "our" mean the Credit Union. The word "payee" means anyone, including FORUM, you designate and FORUM accepts as payee. The word "account" means any one (1) or more checking accounts you have with the Credit Union. Electronic fund transfers are electronically initiated transfers of money from your account through Business Online Banking via the bill payment services module. By agreeing and enrolling in business bill payment services you, jointly and severally, agree to the terms and conditions in this agreement and the Business Online Banking Disclosure. The terms and conditions of this Agreement and Disclosure are in addition to the Business Membership Agreement & Disclosures booklet governing your Account.

Enrollment, Payees and Payments:

FORUM's bill payment service is available to most business accountholders and is available upon completion and review of the Business Bill Pay Enrollment Form. You agree all of the registration information provided may be subject to verification by FORUM Credit Union at any time.

Bill Pay Payees and Payment Features:
$5.95 monthly fee charged to your business account for unlimited number of payments
Schedule check and electronic payments from one screen
View Payees, upcoming bills, payment history and account balances
Pay from multiple accounts
Set system email reminders
Quickly add new payees
Make a payment to any person or company with one click
Set up recurring payments for bills

Bill Pay Stipulations and Limitations:
Payees must be located in the United States
International payments are prohibited
FORUM reserves the right to refuse the designation of a Payee for any reason
Payments may not be remitted to tax authorities, government or collection agencies
Payments may not be remitted for stock purchases or to trade taxing authorities
Court directed or legal debt payments are unauthorized (Alimony, Child Support, Fines)
Outbound Transfers
$2,500 per transaction
$2,500 per day
Outbound transfer limits are subject to change
Email Payments
$2,500 per transaction
$2,500 per day
Email payment limits are subject to change
Pay an Individual
$2,300 per transaction
$4,600 per day
Individual payment limits are subject to change
Business Payments
$99,999.99 per transaction
$99,999.99 per processing day
Business payment limits are subject to change


FORUM Credit Union is not responsible if a bill payment cannot be made due to incomplete, incorrect, or outdated information provided by you for a Payee of if you attempt to pay a payee not on your Authorized Payee list.


Accessibility. Bill Payment Services via desktop will be available 24 hours per day. This service may be interrupted for a short time for data processing or scheduled maintenance. We reserve the right not to process any transaction, which would draw upon insufficient funds, lower an account below a required balance, or otherwise require us to increase our required reserve on your account. We may set other limits on the amount of the transaction, and you will be notified of those limits.

Deactivation. Business users must contact FORUM Credit Union to deactivate this service. However, FORUM may periodically review inactive accounts and deactivate. The business user must contact the Credit Union for reactivation of service.

Business Days. FORUM Credit Union business days are Monday through Friday, excluding holidays.

Cut Off Time. FORUM?s daily cut off time (processing time) is 2:00 p.m. Eastern Time each business day. If a bill payment is scheduled after the cut off time, the payment will be processed the following business day.

Bill Pay Vendor. FORUM Credit Union contracts with third party service provider, iPay, for the purpose of bill payment services.

Stop Payments. You may request a stop payment on any check or electronic payment drawn on your account no later than Noon the following business day after the payment has been debited from your account by contacting iPay at 1.888.470.1735.

Bill Paying Process. The bill payment process allows you to make payments to payees directly from your checking account using FORUM?s Bill Pay via Business Online Banking. Bill Pay is designed with functionality and flexibility in mind and allows you set single and recurring payments to payees.

Single Payments. A single payment will be processed on the business day that you designate as the payment?s process date, provided the payment is submitted prior to the daily cut-off time of 2:00 p.m. Eastern Time. A single payment submitted after the cut off time will be processed on the following business day. If you designate a non-business day as the payment process date, the payment will be processed on the first business day following the designated process date.

Recurring Payments. When a recurring payment is processed, the bill payment system will automatically reschedule the payment for the next process date based upon your selected calculated frequency setting for the payment. If the calculated process date is a non-business day, the payment is adjusted based upon the following rules; (1) if the recurring payment option ?Pay Before? is selected the process date is adjusted to the first business date prior to the calculated process date, (2) if the recurring payment option ?Pay After? is selected, the process date is adjusted to the first business date after the calculated process date, (3) if frequency settings for the recurring payment specify the last business day of the month the processing date will adjust based on the last calendar day of that month.

For single and recurring payment, you must allow at least five (5) business days prior to the due date for each bill payment to reach the payee. Any bill payment can be changed or cancelled, provided you access the Bill Pay service prior to the cut off time on the business day prior to the payment process date. FORUM reserves the right to change the cut off time and provide you with such notice if it changes. You agree to have available and collected funds on deposit in the account you designate in amounts sufficient to pay for all payments requested. FORUM reserves the right, without liability, to reject or reverse a bill payment if you fail to comply with this requirement or any other terms of this agreement or the Business Membership Agreement and Disclosures booklet. If you do not have sufficient funds in the account and FORUM has not exercised its right to reverse or reject a bill payment, you agree to pay for such payment obligations on demand. You further agree the Credit Union, at its option, may charge any of your accounts with us to cover such payment obligations.

General Legal Information.
Liability. You are solely responsible for controlling the safekeeping of and access to Bill Pay. You are liable for all transactions you make or that you authorize another person to make even if that person exceeds his or her authority. Additionally, you will be responsible for any Bill Pay request you make that contains an error, is a duplicate of another payment, or failure to promptly notify us after you learn you have not received credit from a Payee for a payment.

Disclosure of account information to third parties. We will disclose information to third parties about your account or the transfers you make only in the following situations: (1) where it is necessary for completing transfers; (2) in order to verify the existence and condition of your account to a third party, such as a credit bureau or merchant; (3) in order to comply with a governmental agency or court orders; (4) if you give us your written permission.

Disputes. In the event of a dispute regarding Business Online Banking electronic banking services, you agree to resolve the dispute as outlined within the Business Membership Agreement and Disclosures booklet.

Data Recording. Communication or information you provide to FORUM may be recorded or otherwise retained by use or our service provider. You consent to such recording or other retention. Without limiting the above, you agree that we may record the conversations our employees or agents have with you or your agents to ensure your instructions are followed and monitor quality of service and accuracy.

No Waiver. FORUM Credit Union shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by an authorized Officer of the Credit Union.

Governing Law. This Agreement is governed by the bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the state of Indiana, and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.


Enforcement. You are liable to us for any losses, costs or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such losses, costs, or expenses from your account without prior notice to you. If the Credit Union brings legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney?s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post judgement actions.

Amendment and Termination. FORUM has the right to change this Agreement at any time by notice mailed to you at the address on your Account(s), by posting notice in our branches, notice on our website, or as otherwise permitted by law.

FORUM reserves the right to terminate this Agreement at any time. You may terminate this Agreement by written or verbal notice to FORUM Credit Union. We are not responsible for any payments made before FORUM Credit Union has a reasonable opportunity to act on your termination notice and you shall remain obligated for any payment made on your behalf.

Additional Fees. Additional charges may be assessed by FORUM Credit Union or the contracted third party, iPay.

FORUM Credit Union reserves the right to charge you for research time involving payment no longer available in your bill payment history. You will be informed of any such charges before they are incurred.

Bill Payment processed by Electronic Fund Transfers (EFT) are subject to provisions outlined in the Electronic Fund Transfers Disclosure Statement included, or, received in the Business Membership Agreement and Disclosures booklet, which discloses important information concerning your rights and obligations of your Account(s).