Money Movement Services Terms
To the extent that your use of the Service involves the transmission of funds in connection with payroll processing, payroll tax payments, or related payments services (collectively, “Money Movement Services”) such Money Movement Services are provided to you by Intuit Payments Inc. (“IPI”), a licensed money transmitter. Please note that while the Money Movement Services are provided by IPI, under certain circumstances IPI is not required to provide such services under its money transmission licenses. All references in this Agreement to “we,” “us,” “our,” or similar terms, shall be understood to mean IPI solely with respect to the provision of Money Movement Services.
General Conditions for Money Movement Services.
The Money Movement Services are available only in the United States (but not the U.S. Virgin Islands, Puerto Rico, and other U.S. territories and possessions). To be able to use the Money Movement Services, you: must not be domiciled, reside, or have a principal place of business outside the United States; must not be engaged in any illegal activity or any activity reasonably likely to cause notoriety, harm, or damage to the reputation of Intuit, IPI or any banks or other service providers we use to provide the Money Movement Services; must not be listed on any other third party or governmental sanctions lists; and must comply with the Acceptable Use Policy. If you are engaged in any of the prohibited activities, business types, or transactions described in our Acceptable Use Policy, you are not eligible (or may become ineligible) to use the Money Movement Services. In addition, you may not, and may not attempt to use the Money Movement Services to transfer funds to a person, entity, or jurisdiction outside of the United States or in any instance in which such transactions are prohibited by law, nor may you use the Money Movement Services for any funds transfers not part of the Service.
From time to time, IPI may publish additional guidelines, policies, and rules (collectively “IPI Policies”) regarding the Money Movement Services and will provide appropriate notice to you regarding such IPI Policies. Consistent with any such notice provided to you, you understand and agree that your use of the Money Movement Services must be consistent with such IPI Policies, and agree to provide any information we deem necessary to verify your compliance with such IPI Policies.
In order to comply with applicable federal laws relating to anti-money laundering and terrorism financing, including the USA PATRIOT Act and the Bank Secrecy Act, IPI may request that you provide information beyond what is required for your use of the Service, including but not limited to: a copy of a government-issued ID (such as a passport or driver's license); your business license; taxpayer ID number; financial or bank statements; utility bills; or your personal or business tax returns. In addition, you agree and authorize IPI (directly or through third parties) to make any inquiries we consider necessary to verify your or, in the case of an entity, the principals’ and/or owners’, identities, or to determine your current and ongoing creditworthiness, financial status, and/or ability to perform the obligations hereunder. This may include asking you to confirm email address, mobile/phone numbers, or bank accounts, or verifying information you have provided using third-party databases (including by obtaining your individual and business credit report, personal profile, or other information from one or more third-party databases). You consent to IPI updating your account information from time to time based on information provided by you, your bank, other payments services providers, or other data sources used to evaluate the current status of the business and/or its owners.
IPI may establish processing limits and assign a maximum dollar amount for Money Movement Services provided to you during any applicable period of time identified by IPI. Consistent with obligations under applicable state money transmission laws and federal anti-money laundering laws, IPI may, in its sole discretion, place holds on any Payments (as defined below) initiated by you in order to protect against potential risk or fraud. Reasons for holds are proprietary to IPI and Intuit and may be based on multiple factors, including, but not limited to: (1) no or limited payments processing history with Intuit; (2) past performance or standing of your account, including changes in charge volume; or (3) businesses offering higher risk goods or services. You understand and agree that IPI’s evaluation of risk may result in your ineligibility for some or all Money Movement Services provided in connection with the Service, including with respect to the settlement timing for Payments (subject to applicable restrictions under state money transmission laws). IPI also reserves the right, in its sole discretion, to review and reject any Payment. If a Payment is cleared after review, we will provide notice to you. Otherwise, we will attempt to cancel the Payment and your funds may be returned. IPI will have no liability for any losses, either direct or indirect, which you may attribute to any hold, review, or other delay or suspension of a Payment.
IPI reserves the right, in its sole discretion and with or without notice or cause, to suspend or terminate the provision of Money Movement Services. Upon termination, your ability to use the Service may be limited as we will not be able to facilitate transmissions of funds on your behalf. Any funds that remain in your account for any reason, including your abandonment of your account or your failure to remedy any deficiencies in the information we are required to collect for anti-money laundering purposes, for the applicable time period as mandated or allowed by applicable law may be remitted to your state of residency or otherwise in accordance with unclaimed property laws. We may also unwind transactions or direct funds to specially designated accounts pursuant to anti-money laundering, sanctions or other compliance requirements.
IPI Provision of Money Movement Services.
The Service provides functionality to enable you to track, calculate, and initiate payroll and other payments to employees and tax payments to taxing authorities. Specific conditions and requirements for the Service are provided below. This section describes rights, responsibilities, and obligations with respect to the transmission of funds on your behalf in connection with the Money Movement Services.
With respect to the Money Movement Services, you are the “Payor” and the person or entity you are seeking to pay (which may be a vendor, taxing authority, or Employee, as defined below) is a “Payee.” As a Payor, an eligible transfer of funds to a Payee that you initiate through the Service, in accordance with the specific terms set forth below and any instructions provided through the applicable software, constitutes a “Payment.” When you make a valid Payment request, IPI receives funds from you and transmits the funds to the Payee in accordance with your instructions.
To use the Money Movement Services and to initiate a Payment, your bank account must be a demand deposit account with an eligible financial institution capable of enabling Automated Clearing House (“ACH”) transactions and such account must be identified when you enable the Service (“Your Account”). You can change Your Account in accordance with instructions provided through the Service settings. Please note, however, that under certain circumstances IPI reserves the right to use wire drawdown requests or other funding methods (collectively “Debits”) to fund your Payments.
You may request that IPI initiate a Payment to a Payee or Payees online (“Payment Transaction(s)”). After you submit your Payment Transaction, IPI will confirm receipt of the Payment request. Your Payment Transaction will not be processed if you do not receive our confirmation before the Payment Transaction is over. However, a confirmation does not mean that your Payment Transaction is error-free, and if errors are detected later we may be unable to complete your Payment Transaction. We will make reasonable efforts to tell you if we cannot complete your Payment Transaction. Payments sent after the cut-off time specified in the Service may be processed the following banking day. You are solely responsible for verifying that all Payments have been received and are accurate. It is your responsibility to keep any payroll, tax or other records you may need for reference, even though we may have information about the Payments in our files.
IPI generally processes Payment Transactions using the ACH. Such transactions are governed by the rules of the National Automated Clearing House Association (“NACHA”). NACHA may amend these NACHA Operating Rules at any time. By initiating a Payment, you authorize IPI to initiate credit and debit entries to Your Account, and to send Payments electronically or by any other commercially accepted method to the Payee or Payees you have designated and pursuant to instructions you provide with your Payment Transaction. You also authorize and direct the depository financial institution that holds Your Account to charge each debit to Your Account for that amount to be credited to IPI, and to respond to inquiries from IPI regarding your information and Your Account. This authorization will remain in full force and effect until IPI has received written notification from you of its termination in such time and in such manner as to afford IPI and the depository financial institution that holds Your Account a reasonable opportunity to act on it. For Payees that will receive disbursements via ACH, you agree to obtain the Payee’s consent to credit their bank account and initiate a disbursement over the ACH network. Such consent must be in a form and manner that complies with the NACHA Operating Rules. You also agree to maintain the security and integrity of all information that you collect and/or provide to IPI that IPI uses to process a Payment Transaction, whether using the ACH or otherwise.
We may refuse to process your Payment Transaction if we reasonably believe that Your Account balance is insufficient to cover the dollar amount of the Payment Transaction or for any other reason we deem reasonable. If any amount debited against you is dishonored or returned for any reason, such as, but not limited to, non-sufficient funds, account closed, inability to locate account, or reversal by you and/or your bank, we may: (1) reverse any corresponding credit issued to IPI, you, your Payees or any other party without liability to you or any other party; (2) reverse direct deposit transactions; (3) refuse to perform further Services; and/or (4) report this information to any and all credit agencies and/or financial institutions.
May 2020
