Terms and Conditions

  1. This Agreement shall remain in effect until terminated by client or SmartPay by providing written notice of termination at least thirty (30) days prior designated termination date. Upon refinance or sale of said property, you may transfer the agreement to a new home or mortgage with no new enrollment fees.
  2. This Agreement may be terminated by SmartPay if, for any reason, a debit transfer from your account cannot be made due to, but not limited to, insufficient funds, stop payment order, or closure of account. If funds are not in the account to complete the auto-draft, SmartPay will assess an auto-draft reject fee. If notification of insufficient funds is received by SmartPay after the payment has been submitted to the lender, a fee will assess to process the hold placed upon the payment. These fees are in addition to any other fee assessed by your institution. In the event of account termination, your account will be audited and any funds that we have collected on your behalf and not paid to your lender will be refunded to you within 21 days.
  3. If you believe an error has been made regarding any ACH debits from your account, or your statement discloses a transfer you did not authorize SmartPay to make, you must notify SmartPay of the alleged error within 30 days. If SmartPay does not complete a transfer to or from your account on time or in the correct amount according to our Agreement with you, and there were sufficient funds in your deposit account, and the failure was due to SmartPay, we will complete the transfer immediately upon notice of such failure and will pay all late fees associated with such error up to $50.00. In the event a transfer is made from your account, not authorized by you, you are entitled to an immediate reimbursement under Federal Reserve Regulation E. You may notify your institution to protest said debit and SmartPay will assume responsibility for such error. In the event you protest a debit transaction that was authorized in this Agreement, you will be liable for a fee of $250.00, and may have to incur legal fees associated with a violation of use for Regulation E. In addition to other circumstances, we will not be liable if:
    • You do not have enough available funds in your account to make the transfer;
    • The funds are subject to legal process or other encumbrances restricting such transfer;
    • Acts of God, technical malfunction or other circumstances out of our control prevent the transfer, despite reasonable precautions that we have taken;
    • The transfer will go over the credit limit of your overdraft line;
    • Your institution does not subscribe to the Federal Reserve’s Automated Clearing House (ACH) Banking System, or will not provide the access to transfer funds on your behalf.
  4. It is your responsibility to communicate any changes to the loan that affect the monthly payment including, but not limited to, increase or decrease of payment, interest rate, escrow accounts, or assignment of the loan by lender to another lender. SmartPay must receive the written change within 30 days prior to the effective date of the change. If your lender notifies SmartPay of a change to your mortgage terms, including but not limited to payment, mortgage lender, or account number, you authorize SmartPay to make any changes needed to process the account. SmartPay will not be held liable for any fees incurred by you as a result of changes to your mortgage that SmartPay has not received. Complaints can be filed by contacting SmartPay at 315 NE 3rd Ave Suite 1604, Ft. Lauderdale, FL 33301, or with the Better Business Bureau.
  5. A record of each debit transferred from your account will be included as part of your regular financial institution statement. A record of each mortgage payment may be obtained directly from your lender.
  6. Funds will be transferred from your account to SmartPay via the ACH. Your funds will be remitted once per month by check, ACH, or wire. Any interest generated as a result of the collected funds residing in SmartPay’s accounts shall not be credited to you.
  7. In the event that your mortgage has an existing auto-debit account, it is your responsibility to cancel this debit service. You are advised that there may be a penalty for revoking said debit service, such as but not limited to, an increase in mortgage interest rate, loss of free checking or other benefits not known to SmartPay
  8. In the event that your account balance with SmartPay becomes negative due to unpaid fees, or any other reason, you agree to reimburse SmartPay with 14 business days. And, should you fail to do so, and the account is sent to a collection agency for performance, you agree to pay any and all related collection costs and reasonable attorney fees incurred by SmartPay
  9. This Agreement for the debit of your bank account, the collection of funds, and the subsequent credit to your lender is a two-party contract between you and SmartPay Our business bank is in no way liable for any errors, reversals, or protests and you agree to hold our business bank harmless in the result of any disputes.
  10. The enrollment fee may be paid in any of the following methods. Option A:) A fee of $100 will be added to the first two drafts taken from the customers account, for a total of $200. Option B:) A fee of $295 will be deducted from the customers first principal disbursement to the lender. Option C:) The customers second full principal draft will be kept as an enrollment fee. If none of these options are selected, an additional $95 will be deducted from your account within 3 days of receipt of this agreement.
  11. You acknowledge that all calculations made by SmartPay software are based on information provided by you and you accept sole responsibility for the accuracy of information provided to SmartPay or Agent Company. You acknowledge any changes in interest rate, escrow amts, etc. of the mortgage loan will have a significant bearing on the numbers illustrated in the computer proposal.
  12. This Agreement is governed by the laws in the State of Ohio. If any term of this agreement is found to be invalid or unenforceable, then the balance of the agreement shall be enforced without the invalid or enforceable term.
  13. SmartPay will not disclose any customer information we collect about our customers or former customers to third parties outside of SmartPay, except as permitted or required by law. These exceptions are: in connection with audits by any state or federal governmental agency; for fraud, security, or risk control; to resolve disputes or inquires, or to complete a transaction you initiate, including information requested to verify the existence or condition of an account; with your consent or at your discretion which may be oral, in writing, by telephone, electronic, or other means which we recognize; when disclosure is required by law, such as pursuant to a court order subpoena, legal process or government agency examination or investigation, or to protect or enforce our rights; to companies that perform services for us in connection to your accounts, such as data processing and software companies and collection agencies; as otherwise necessary to service your account including any transaction with your mortgage company, or as permitted or required by law.
  14. SmartPay Financial guarantees that this Agreement shall not violate any provision of your underlying loan agreement. In the event that your use of the program is found by your Lender to be in violation of any of the agreements between you and your lender within the first year of this agreement, SmartPay or its agent will be responsible to refund all fees paid to it by you within ten (10) days of written demand, after verification of the alleged violation. SmartPay will only refund the portion of the processing fee it received.
  15. Services in Pennsylvania and Texas not provided by SmartPay
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 2864 NE 35th Ct, Ft. Lauderdale, FL 33308

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