Limited FuturePay Agreements
Payments under Limit FuturePay Agreements can be made at any time and
can be for any amount, subject to certain limitations. You must use
WAS to initiate payments. Operation
of the agreement depends upon the option chosen:
- Option 0:
- amount limit is a limit per individual payment
- number of payments is a limit on the total number of payments
that can be made under this agreement
- interval is the minimum interval allowed between payments
- any of these limits can be left unset
- Option 1:
- amount limit is a limit per individual payment
- number of payments is a limit on the number of payments that can be made
during the specified interval
- interval must be one day, week, month or year
- Option 2:
- amount limit is a limit on the total value of payments that can
be made under this agreement
- number of payments cannot be set
- interval cannot be set
- Option 3:
- amount limit is a limit on the total value of payments that can
be made during the specified interval
- number of payments cannot be set
- interval must be one day, week, month or year
Duration of Agreement
You can choose to set
start and end dates for the agreement. If a start date is not set the agreement will run from when it is created. If an end date is not set the agreement will run until cancelled. You or the customer
can cancel the agreement at any time by visiting WAS.
Payment Dates
Payments are always initiated by you, using WAS. If a payment is not currently
permitted (because of the limitations in force) then you will be given the
date on which you will next be able to take a payment. If a payment is
possible then you enter the amount (within the limits set) and
initiate a payment. If it fails you will be told the reason for the failure,
typically the customer's credit/debit card failing or his WorldAccount
having insufficent funds. You can then contact the customer to inform him
of the problem.
Further Details
FuturePay Home Page