By accepting this Autopay Agreement ("Agreement"), you authorize Ava Finance, Inc., including its subsidiaries andaffiliates ("we," "us," "our") to initiate recurring payments from your designated payment account (“PaymentAccount”) to make payments on your loan, credit card account(s), and/or your Ava Membership. This authorization will remain in effect until canceled as described below. By accepting this Agreement, you acknowledge that you have read, understand, and agree to these terms and conditions.
Authorization
To enroll in autopay, you must designate a Payment Account from which we will debit amounts you owe as described below. You certify that you are the owner of the Payment Account provided and have the authority to authorize recurring payments from this account. You understand that this authorization to pay your loan or credit card through recurring transfers is entirely optional and is not required to obtain or maintain your loan or credit card.
Payment Amount
For Loan Accounts
You authorize us to debit your Payment Account up to the total amount owed as shown on your monthly statement. The specific amount will be calculated each month on your statement closing date and disclosed to you in writing on your statement. If your loan balance increases, your payment amount will also increase, and the amount withdrawn from your payment account will automatically increase accordingly. Please note your Payment Account must contain a minimum threshold balance as further indicated in the mobile application or by other means of communication for payment to successfully process, otherwise it will be denied.
For Credit Card Accounts
You may have two options available for setting up autopay for your credit card:
Statement Balance. You authorize us to debit your Payment Account for the full amount owed as shown on your monthly statement. By enrolling in autopay, you agree that you will not receive notice of a varying amount if your payment amount ranges from $0 to your credit limit.
Minimum Payment. You authorize us to debit the minimum payment due amount as shown on your monthly statement. The minimum payment due is calculated each month on your statement closing date and disclosed to you in writing on your statement. If your balance increases, your minimum payment due amount may also increase, and the amount withdrawn from your payment account will automatically increase accordingly.
The autopay amount will never be more than the minimum payment due. However, it may be less because payments, returned purchases, and other credits can reduce the autopay amount if they post to your account between the statement closing date and the date your payment is processed.
For non-revolving charge cards such as the Ava Credit Builder Card, only the “statement balance” option is available for autopay.
Please note your Payment Account must contain a minimum threshold balance as further indicated in the mobile application or by other means of communication for payment to successfully process, otherwise it will be denied.
For Ava Membership Fees
You authorize us to debit your Payment Account for the amount of the Ava Membership Fee as selected by you, whether monthly or annually, as applicable.
Payment Timing and Processing
For Loan and Credit Card Accounts
We will debit payments from your Payment Account, as applicable, one day after the date of the loan or credit card statement you receive, as applicable. We will credit payments one day after payment of the Loan and 3 days after payment of the card.
For Membership Fees If you choose monthly, we will debit the monthly amount from your Payment Account on the same day each month, or if the month does not contain that day, then the latest day of that month. For example, if you create your Ava Membership on the 31st day of a month, we will debit your Payment Account for any future months without 31 days on the last day of that month. If you choose annually, we will withdraw the annual amount on your annual renewal date.
Generally
We will debit your Payment Account even if you made other payments between the last autopayment date and the next scheduled auto payment date if your payment was not sufficient to cover the amount owed under your autopayment option. If the scheduled date is on a weekend or banking holiday, the debit will be made on the next business day. If there are insufficient available funds (or available credit) to cover a payment, we may at our discretion attempt to process the payment again within 30 days. You are responsible for any fees your financial institution may charge if you do not have sufficient funds to cover the debit. You must update your Payment Account if there is a change in the Payment Account information.
Notifications
You agree that no prior notification will be provided unless the date or the method of determining the date as described above or the amount or the method of determining the amount changes, in which case you will receive notice from us at least 10 days prior to the payment being collected.
Cancellation
You may cancel your enrollment in autopay at any time by notifying us at least five (5) business days before the scheduled date of the payment. You may cancel by logging into your online account and turning off automatic payments.
This authorization will remain in full force and effect until we have received notification from you of its termination. If you revoke your autopay authorization, you remain responsible for making all required payments on or before the due date shown on each statement.
If you cancel your autopay for your Ava Membership, we may terminate your ability to participate in the Ava Services. We will remove promotional discounts or incentives that require automatic payments if you de-enroll from automatic payments.
Error Resolution and Customer Notification
In the event of a suspected error with an ACH charge, you may report the issue to Ava for investigation. You must notify Ava within 60 days of the statement date on which the suspected error appeared. To notify Ava of an ACH charge error, you may use any of the following methods:
- Email: Send a detailed email to support@meetava.com.
- Mail: Write us at Ava Finance, Inc. 548 Market St, STE 511672 San Francisco, CA 94104-5401.
- Web Contact: Submit a detailed message through our web contact format https://www.meetava.com/contact.
Please include the following information with your notification:
- Your full name and contact information.
- The email address associated with your account.
- The date and amount of the suspected ACH charge error.
- A clear description of the suspected error.
Upon receiving your notification, we will initiate an investigation into the matter and will provide a resolution within the timeframes required by applicable law and NACHA Operating Rules, which may be further specified inother agreements you may enter into with us.