Bill Pay Agreement
This is your bill paying agreement with Diamond Bank.
You may use Diamond Bank’s bill paying service, iPay, to direct Diamond Bank to make payments from your designated checking account to the “Payees” you choose in accordance with this agreement. The terms and conditions of this agreement are in addition to the account agreements, disclosures and other documents in effect from time to time governing your account.
You must have a valid Online Banking username and password to use Bill Pay.
Bill Pay is intended for use by the authorized or authorized representative online banking user only. You agree that you will not provide access to the Services to any party other than yourself or your authorized representatives. You and your authorized representatives must maintain the confidentiality of the assigned user name and password for the Services and you and your authorized representatives are responsible for all charges incurred under each user name and password even if that person exceeds his or her authority. You and your authorized representatives will be responsible for any bill payment requests that are made that contain an error or are a duplicate of another bill payment. Diamond Bank is not responsible for a bill payment that is not made if you or your authorized representatives did not properly follow the instructions for making a bill payment. Diamond Bank is not liable for any failure to make a bill payment if you or your representatives fail to promptly notify the Financial Institution after you learn that you or your authorized representatives have not received credit from a “Payee” for a bill payment.
The availability of the Services may be subject to interruption and delay due to causes beyond our reasonable control.
Diamond Bank is not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be the Financial Institution's agent.
Bill Pay will make payments for you either electronically, using a check drawn on your account, or other form of funds transfer that we may choose to employ.
Electronic payments will be debited from your account on the processing date shown by the Bill Pay service when scheduling a payment. If payment is made using a pre-authorized check drawn on your account, the funds will be withdrawn from your account at the time that the check is presented by the payee. All of the rules and regulations regarding insufficient funds fees, returned items, and physical check limits on your particular account will apply to checks originated using the Bill Pay service.
Funds Availability Policy:
Funds are available for transfers and payments in accordance with our Funds Availability Policy. If there are not sufficient available funds in the funding account to make transfers or scheduled payments, we may either refuse to honor transfer or payment requests or may make the transfer or payment and thereby overdraw the funding account. In either event, you will pay on demand by us the negative balance and are responsible for any overdraft, insufficient funds and return item charges.
We will use reasonable efforts to ensure that the payments reach the payees on time but cannot guarantee receipt or the time a payment may be posted by a payee. It is the user's responsibility to transmit payment Instructions in such a manner that amounts owed are paid and received on time. The user of the service is responsible for any late payment charge, finance charge, penalty or default that may result from failure to transmit payment instructions in sufficient time. DIAMOND BANK AND ITS THIRD PARTY PROVIDERS ARE not responsible for any loss or penalty in the form of finance charges, late charges or other penalties associated with payments made or scheduled but not made by the service.
No charge for Online Banking Access.
Free bill pay.
Other IPay Features
The presentment of your first electronic bill may vary from biller to biller and may take up to sixty (60) days, depending on the billing cycle of the biller. Additionally, the ability to receive a paper copy of your statement(s) is at the sole discretion of the biller.
The electronic biller has the right to cancel the presentment of its electronic bills at any time. You may cancel electronic bill presentment at any time. The time frame for cancellation of your electronic bill presentment may vary from biller to biller. It may take up to sixty (60) days, depending on the billing cycle of the biller. It is your sole responsibility to make arrangements for an alternative form of bill delivery. The bill pay service will not be responsible for presenting any electronic bills that are already in process at the time of cancellation.
Gift Pay-You may also elect to use our Gift Pay service. Gift Pay allows you to send a check from your account using designer templates which can be customized to send messages along with the gift payment. This service can be used to make donations to charities and other organizations or to send gifts to people. A fee will be charged for the use of this service and will be disclosed and will require your acceptance at the time of checkout for all Gift Pay purchases.
Person to Person Transfers-As a convenience to you, Diamond Bank and its third party Bill Pay provider also allow you the option of Person-to-Person payments using e-mail, electronic ACH, or check. It is your responsibility to ensure the accuracy of all information provided for a person-to-person payment. DIAMOND BANK AND ITS THIRD PARTY PROVIDERS ARE NOT responsible for any loss or penalty resulting from use of this service. When scheduling a person-to-person payment you will be presented with three options for payment: e-mail, electronic ACH, and check.
If you select check, a pre-authorized check will be printed on your account and mailed to the payee at the address you provide. The check will be treated the same as a physical check written by you and will be paid upon presentment by the payee. This check is subject to the same terms and conditions as above.
If you select the option “I have the payee’s banking data” you will be asked to provide a routing number, account number, and other identifying information for the payee. An electronic ACH payment will be made from your account to the account you specified.
If you select the e-mail option, you will be required to provide the payee’s e-mail address and a secret pass-code. The payee will receive an e-mail alerting them to the fact that they have received a payment from you. When they open the e-mail to receive the payment they will be prompted to supply your pass-code to verify that they are the correct person. IT IS YOUR RESPONSIBILITY to supply the pass-code to the payee and to alert them of your attempt to send them a payment by e-mail. Once they have entered the pass-code they will be asked to provide their banking data and an electronic ACH will be drawn on your account and deposited to the payees account. You will not have access to the banking data provided by the payee. Diamond Bank and its third party vendors do not have access to the banking data provided by the payee.
Bill Pay Service
Accessing the Bill Pay Service:
Instructions for Setting up Payees & Payments:
Payees: If you want to add a new “Payee,” first select the “Payee” tab located in the bill pay or speak to a service representative.
The Financial Institution reserves the right to refuse the designation of a “Payee” for any reason.
Payments: You may add a new payment to a “Payee” by accessing the service and entering the appropriate information. Most other additions, deletions, or changes can be made in writing or by using the service.
You may pay any “Payee” within the United States (including U.S. territories and APO’s / AEO’s).
The Financial Institution is not responsible for payments that cannot be made due to incomplete, incorrect, or outdated information.
The Bill Paying Process
Single Payments – A single payment will be processed on the business day (generally Monday through Friday, except certain holidays) that you designate as the payment’s processing date, provided the payment is submitted prior to the daily cut-off time on that date. The daily cut-off time, which is controlled by the Financial Institution, is currently 2 pm CST.
A single payment submitted after the cut-off time on the designated process date will be processed on the next business day. If you designate a non-business date (generally weekends and certain holidays) as the payment’s processing date, the payment will be processed on the first business day following the designated processing date.
Recurring Payments – When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules:
If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date.
If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.
Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.
Single and Recurring Payments
The system will calculate the Estimated Arrival Date of your payment. This is only an estimate, so please allow ample time for your payments to reach your “Payees”.
Failed Payments and Subscription Suspension
In the event we are unable to process a bill payment transaction (for example, the designated account has insufficient funds), the transaction will result in a “Failed Payment.” In such event, you may be charged the “NSF” fee (see Diamond Bank Fee Disclosure). In the event of repetitive Failed Payments, we reserve the right to suspend your subscription to Online Banking Bill Pay, without prior notice. If your subscription is suspended, transactions which were previously initiated may continue to be processed unless canceled and confirmation of such cancellation is provided as specified below.
Email notifications will be sent to provide a reason as to why a payment was returned and inform you of the action that must be taken to resolve it. Examples of returned bill pay email notifications for electronic and consumer drafts could be invalid account number or invalid address.
Stopping or Modifying a Bill Payment
A bill payment can be changed or canceled any time prior to the cutoff time on the calculated processing date. If the bill payment has already been processed it cannot be cancelled, however a stop payment may be issued so long as the payment has not been cleared by the payee. Stop payments may be requested by contacting iPay Customer Support at 844-308-4883, by submitting a “Payment Inquiry” via your payment history screen or contacting Diamond Bank Customer Support at 877-213-2265 during regular bank hours for further assistance. Once a stop pay has been issued, it may take 1-3 business day for the funds to be credited back to your account.
In addition to the transfer cancelation methods stated above in the Stopping or Modifying a Bill Payment section, you may also stop any regular payments from your account that you have told us about in advance. Here is how:
Contact your local branch or call Customer Support at 877-213-2265; or
Write us at:
Electronic Services Department
PO Box 10
Glenwood, AR 71943
Please do so in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, you are required to provide a written confirmation of the stop-payment and mail it to the address listed above within 14 days after you call. An oral stop-payment order ceases to be binding after 14 days if you fail to provide the required written confirmation. Texas residents: If the stop payment is by check, an oral Stop-Payment Order is not effective and a Stop-Payment Order is effective only if it is in writing.
All bill payments initiated through iPay are contingent upon sufficient funds available in the Designated Transaction Account to cover the bill payment on the Scheduled Initiation Date and the calculated processing date. Please refer to the Funds Availability Disclosure provided to you at account opening to determine the funds availability policy for your account(s). You may request another copy of this disclosure from any Diamond Bank representative by telephone, postal mail, or in person at any of our branch locations.
Diamond Bank has the right to change this agreement at any time by notice mailed to you at the last address shown for the account on the Financial Institution's records, by posting notice in branches of the Financial Institution, or as otherwise permitted by law.
The Financial Institution has the right to terminate this agreement at any time.
You may terminate this agreement by written notice to the Financial Institution.
The Financial Institution is not responsible for any fixed payment made before the Financial Institution has a reasonable opportunity to act on your termination notice.
You remain obligated for any payments made by the Financial Institution on your behalf.