Online Loan Payment Terms & Conditions - First Internet Bank

Online Loan Payment
Terms & Conditions

These terms and conditions are effective as of September 11, 2015.

AGREEMENT: You hereby authorize First Internet Bank of Indiana to initiate debit entries and to initiate, if necessary, credit entries and adjustments for any debit entries in error to your account at the financial institution you indicated (hereinafter called “Other Financial Institution”) to credit and/or debit the same such account.

Your account at the Other Financial Institution will be debited (charged) and funds will be credited to your First Internet Bank of Indiana loan.

You acknowledge that it is your responsibility to ensure that sufficient funds are available in your account at the Other Financial Institution on the date for which your loan payment is scheduled. In the event that funds are not available and the entry is returned, First Internet Bank of Indiana will reverse the loan payment.

You understand that this agreement is subject to cancellation in the event we receive returned debits from your Other Financial Institution.

PROCESSING SCHEDULE: Loan payments will be applied on the business day it was received. The business day cutoff for payment processing is 4:00 PM EST. Payment requests received after 4:00 PM EST will be processed the following business day. Every day is a business day except Saturdays, Sundays, and federal holidays.

PAYMENT LIMITATIONS: You may initiate payments up to $8,000 per business day per loan using the Online Loan Payment Service. If you would like to pay more than $8,000 on a business day, please contact a Relationship Banker.

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