Lendmark Financial Services offers a convenient online payment portal for customers to manage their loan accounts. This guide outlines the terms and conditions for making online payments to Lendmark, ensuring a clear understanding of the process and associated responsibilities.
Authorizing Electronic Payments with Lendmark Financial Services
When making an online payment, you authorize Lendmark and its payment processor, ACI Payments, Inc. (ACI), to debit your chosen bank account or debit card. This authorization allows a one-time payment to be made electronically to your Lendmark loan account. You confirm the accuracy of the provided information and your ownership or authorized use of the payment method. ACI may charge a fee for this service, disclosed on the payment screen and deducted from your account. Lendmark does not receive any portion of this fee.
Understanding Your Financial Institution’s Policies
Your financial institution governs electronic transfers from your account, including associated fees and your rights. Review these disclosures carefully, as you are responsible for any charges imposed by your bank. Regularly examine your bank statements to verify transaction details. Contact your financial institution directly with any questions regarding electronic transfer policies.
Ensuring Sufficient Funds and Handling Insufficient Funds Charges
Maintaining sufficient funds in your account on the scheduled payment date is crucial. Insufficient funds may result in a charge from Lendmark, as outlined in your loan agreement and permitted by law.
Payment Application and Processing Timeframes with Lendmark Financial Services
Payments exceeding the minimum due will be applied according to your loan agreement terms. Payments authorized before 11:59 PM Eastern Standard Time on the scheduled date are credited the same day. Authorizations after this time are credited the following day. Your financial institution will receive the payment request on or after the scheduled date for immediate processing.
System Maintenance and Updates by Lendmark Financial Services
Lendmark and ACI may periodically conduct system maintenance or upgrades, potentially causing service interruptions. Advance notice will be provided whenever possible. Lendmark reserves the right to modify these terms and conditions without prior notice. Regularly reviewing these terms is your responsibility, and continued use of the online payment service signifies your acceptance of any changes.
