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 1:

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 2:

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 3:

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 4:

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