1) Cash Advance Amount -This is the Amount Financed
- The amount of cash advance
provided to you.
2) Cash Advance Fee - This is the Finance Charge - The dollar amount the cash
advance will cost you.
3) Total of Advance Transaction - The amount you will have to pay after you
have made payment as scheduled.
4) Term - This is when the cash advance total payment is due.
Electronic Funds Transfer (EFT)
Agreement and Disclosure
This authorization is for those single or multiple
entries necessary to complete the original entries' authorization amount and
may be resubmitted if the original entry is returned by the customer's financial
institution. In the event the EFT is returned unpaid, an additional $25.00
Return Fee or maximum legal amount may be electronically withdrawn. It is
the policy of Money & More, Inc. to expedite all debits and credits as
soon as possible upon approval; however, unavoidable delays can result with
the processing company as a result of inadvertent processing errors, "Acts
of God", etc. Normal processing time should not exceed two (2) business
days under most circumstances but may exceed that in extraordinary circumstances.
Pre-Authorized Electronic Funds Transfer
Payments
With this EFT Agreement, which is part of the
Master Money & More, Inc. Advance Agreement, the customer authorizes Money
& More, Inc., to initiate debit/credit entries to the customer's account
for all payments due, including any returned unpaid item fees due, on which
the subject of this agreement is drawn and the Financial institution in which
the account is held to debit/credit the same to such account. This authority
is to remain in full force and effect until Money & More, Inc. and the
subject financial institution have received written notification from the
customer of its termination in such time and in such manner as to afford Money
& More, Inc. and the financial institution a reasonable opportunity to
act on it. You (as the customer) understand that you may cancel this authorization
by providing written notice to Money & More, Inc. at least five (5) business
days prior to the payment due date. You understand that canceling your authorization
does not relieve you of the responsibility of paying your account in full.
Furthermore, the customer authorizes Money & More, Inc. (and its EFT Processor)
to make electronic funds transfers (EFT), both debit and credit entries, to
and from any bank account of the customers at any institution, from time to
time, for fixed and variable amounts, including recurring transactions and
point-of-sale transactions, according to the terms of the customer's agreement
with Money & More, Inc. The customer understands and agrees that Money
& More, Inc. does not need to notify the customer prior to any recurring
debit entry for a fixed amount, or prior to any point-of-sale debit entry
initiated by the customer, or prior to any credit item.
The consumer understands that Money & More,
Inc. has the right to withdraw its payday advance at any time and as such
the consumer agrees that they will not seek relief from Money & More,
Inc. if this withdrawal of the advance should generate any overdraft fees
for any reason.
Your Promise To Pay
Due on your nearest payday "or in 14 days".
You promise to pay us the Amount Financed, the
Finance Charge and other permitted charges according to the Federal Truth-in-Lending
Disclosures. You acknowledge and agree that You are indebted to us in the
amount of the Total of Payments, and that the amounts set forth in the Federal
Truth-in-Lending Disclosures are not in dispute.
You have made promise to pay us or to our order,
(per your electronic signature on original advance application of Money &
More, Inc. ADVANCE AGREEMENT in one payment on the date indicated in the payment
schedule.
You authorize us to effect this payment by one
or more ACH/EFT debits and or demand bank draft debit entries to your account
of your financial institution (bank or credit union) until this cash advance
comes due.
You authorize us to effect this payment by one
or more ACH/EFT debits and or demand bank draft debit entries to your account
of your (bank or credit union) financial institution until this cash advance
note is paid in full. You have confirmed that you are not in bankruptcy proceedings,
nor do you contemplate or plan on filing bankruptcy in the future.
You promise to keep open and maintain an adequate
balance in your account to assure all payments are made to us in a timely
manner on the scheduled due date, until this cash advance note is paid in
full. You agree and confirm this online cash advance transaction is due in
full on your next nearest pay date.
You agree that by submitting completed/signed
Money & More, Inc. internet request forms as a matter of convenience,
hereby constitutes the same legal and binding document as providing Money
& More, Inc. with your personal post dated check, in the amount of the
cash advance plus associated fees, for the scheduled and authorized repayment
of the cash advance amount that, upon approval, will be credited by ACH/EFT
to your financial institution account. If Money & More, Inc. is unable
to collect payment from your provided account for any reason to effect debit
entries as agreed, You promise to pay us all sums You owe immediately, by
making payment in full by using Western Union Quick Collect process.If
in default, You authorize Money & More, Inc. and/or their designated collection
agency to continue initiating ACH / EFT or bank draft debit entries of your
financial institution account for full and/or partial payments of cash advance
and associated costs as necessary until all total amounts owed are paid in
full.
Arbitration
Both parties agree that any claim, dispute, or
controversy between us, any claim by either party against the other or the
agents, services, or assigns of the other, including the validity of this
agreement to arbitrate disputes as well as claims alleging fraud or misrepresentation
shall be resolved by binding arbitration by and under the Code of Procedures
of the National Arbitration Forum (NAF) at the time the claim is filed. Rules
and form of the NAF may be obtained and all claims shall be filed at any NAF
office on the World Wide Web at www.arbforum.com or at:
NAF
P.O. Box 50131
Minneapolis, MN 55405
Any arbitration hearing, if one is held, will
take place at a location near your residence. Your arbitration fees will be
waived by the NAF in the event you cannot afford to pay them. This arbitration
agreement is made pursuant to a transaction involving interstate commerce
and shall be governed by the Federal Arbitration Act 9. USC Section 1-18.
Judgment upon the award may be entered by any party in court having jurisdiction.
Notice: Both parties have had the right or opportunity to litigate disputes
through a court but we have agreed instead to resolve disputes through binding
arbitration.
RETURN OF PAYMENT POLICY
If the customer's pre-authorized payment is returned
to Money & More, Inc. as uncollected due to ACCOUNT CLOSED or UNAUTHORIZED
/ STOPPED PAYMENT, and payment in full is not obtained by Western Union Quick
Collect process, the customer's account will AUTOMATICALLY be forwarded to
our collection department and collection procedures will begin immediately.
The customer's defaulted account will be transferred to the National Arbitration
Forum and a claim for judgment will be filed against you. Upon award of claim,
which is final and binding, You the customer in default, will be responsible
for all additional costs associated with obtaining payment in full (National
Arbitration Forum fees, collection fees, court and attorney fees). In addition,
the customer in default will be reported to TeleTrack, TeleCheck, and SCAN.
If the customer's pre-authorized payment is returned
to Money & More, Inc.as uncollected due to NSF (non-sufficient /uncollected
funds), the customer agrees to have payment automatically rescheduled for
a repayment date (within ten days) to include fees associated with the return,
and the original advance plus fee, presented in a manner as to bring the customer's
account current to avoid NAF fees , court fees, collection fees and/or attorney
fees.
Further, by submitting the application form,
the customer authorizes Money & More, Inc. and the customer's current
verified financial institution (even if the financial institution and/or account
numbers are different than those on the original application) to initiate
debit (ACH or bank draft) and credit entries as necessary when an original
ACH/ EFT transaction is returned unpaid or unable to complete. The customer
authorizes Money & More, Inc. and/or assigned collection company to submit
ACH/ EFT and/or bank draft debits for partial payments of cash advances and
fees (such partial payments shall be credited first to fees payable, then
to cash advance principal payable); as necessary to allow full repayment of
the cash advance and any/all associated fees to be completed.
IF ANY PORTION OF RESCHEDULED PAYMENTS are again
returned to Money & More, Inc. as UNPAID for ANY REASON, and Money &
More, Inc. is not able to obtain RESCHEDULED payments IN FULL by Western Union's
Quick Collect process, the customers defaulted account will be transferred
to the National Arbitration Forum and a claim for judgment will be filed against
You. Upon award of claim, which is final and binding, you, the customer in
default, will be responsible for all additional costs associated with obtaining
payment in full (National Arbitration Forum fees, collection fees, court and
attorney fees). In addition, the customer in default will be reported to TELETRACK,
TELECHECK, and SCAN, as well as ALL MAJOR CREDIT BUREAUS.
ADDITIONAL TERMS AND CONDITIONS
OF THIS AGREEMENT
Prepayment: You may prepay your obligation under
this Agreement in full at any time without penalty.
Method of Payment:
Your electronic authorization in the amount of
the total of payments stated in the Federal Truth-in-Lending Disclosures and
dated as of the date indicated in the payment schedule stated in the Federal
Truth-in-lending Disclosures (the "Payment Date") will be held by
us until the payment date as security for this advance. You agree that we
may debit your account for the payment if you have not paid us in cash or
by cashier's check, money order, or other immediately available funds the
amount of total payments before noon (EST) on the Payment Date. If payment
is made prior to the EFT/ACH payment date, we will cancel the electronic authorization
at the time we receive payment.
Returned Payments:
In the event your electronic payment of any amount
due under this agreement, and upon presentment to the named Drawee, is returned
due to insufficient funds or credit, stopped payment, or closed account, or
any other reason, we shall assess a $15 returned fee.
Documentation:
You agree that electronic mail, electronic forms,
records, photocopies, and/or facsimile copies of the documents you submit
are valid and enforceable as the original. You agree that by typing your name
as your electronic signature, it is acknowledged and understood that it constitutes
an acceptance of all terms and conditions of the master cash agreement and
is valid and enforceable.
Prepayment:
You may prepay all or any part of the amount
due under this Agreement at any time without penalty. You agree, to the extent
permitted by law that you will not bring, join, or participate in any class
action or multi-plaintiff action as to any claim, dispute, or controversy
you may have against Money & More, Inc. You agree to the entry of injunctive
relief to stop such a lawsuit or to remove myself as a participant in the
suit. This agreement does not constitute a waiver of any of your rights and
remedies to pursue a claim individually.
MEMBER SIGNATURE STATEMENT
By signing and submitting the application form,
I understand and agree to all terms and conditions of this Money & More,
Inc. ADVANCE AGREEMENT and by submitting the online information application
by Internet, I am applying for a cash advance and certify that information
provided by me is true and correct under penalty of perjury. I agree that
upon submission of you electronic signature, I am not presently involved in,
or contemplating bankruptcy now or in the future. I authorize you to verify
the information in this application and hereby give Money & More, Inc.
consent to obtain information on me from a consumer reporting agency or other
various means available. I understand that Money & More, Inc. reserves
the right to decline an applicant at any time, with cause determined by judgment
of risk, upon completion of due diligence of applicant in order to process
this application, I understand verification of the information I have provided
is necessary, including, but not limited to, proof of residence, employment
and bank account verification. I accept personal responsibility for safeguarding
any PIN or CUSTOMER NUMBER that might be assigned to me.
These transactions shall take place in the State
of California and California Law shall govern all aspects thereof except as
Federal laws may apply.
(Be sure you fully understand the Money &
More, Inc. program and procedures before signing and submitting forms as acceptance.
If you are unsure, please take time to review or contact a customer service
representative to answer any questions you may have.)
