Capital One Terms and Conditions - Autopayments

Payment Options:

AutoPay Terms and Conditions and Electronic Authorization Consent

Important Definitions:

• Statement Balance – Your total balance as of the statement issuance date, which will be indicated on your monthly statement.
• Account Balance – Your total outstanding balance as of the date the AutoPay Payment begins processing (includes posted charges and adjustments for payments, credits and/or disputes since the statement issuance date).
• Minimum Amount Due – The payment amount required to keep your account in good standing, which will be indicated on your monthly statement. This amount will vary according to your “Statement Balance” each month.
• Fixed Amount – The amount you elect during AutoPay enrollment to be paid each month. Your selected amount must be greater than or equal to your monthly “Minimum Amount Due”. In the event that your “Fixed Amount” is less than your “Minimum Amount Due” as indicated on your monthly statement, you will need to send us an additional payment for the difference between the two amounts in order to keep your account in good standing.
• AutoPay Bank Account – This is the bank account you provide at the time of set up, from which your AutoPay Payment will be drafted each month.
• AutoPay Payment Date – This is your payment due date which will be indicated on your monthly statement.

Payment Options:

You have three payment options available, as described below:

• Minimum Amount Due: Each month, we will debit your AutoPay Bank Account by the “Minimum Amount Due” referenced in your monthly statement OR the “Account Balance” whichever is the lower of the two amounts when the AutoPay Payment begins processing.

Note: We will debit your AutoPay Bank Account each month even if you made other payments between the statement issuance date and AutoPay Payment Date, including if you paid the “Minimum Amount Due”. No debit will be made if you have a zero balance “Account Balance” when the AutoPay Payment begins processing. (We will generally begin processing your AutoPay Payment 1-2 days before your due date.)

Examples:

Statement
Balance on
1/1/2012
Minimum
Amount Due
on 1/1/2012
Additional
Payment on
1/20/2012
Posted
Charge on
1/22/2012
Account
Balance when
AutoPay
Processed
AutoPay
Payment on
Due Date of
1/26/2012
Example 1 $100.00 $25.00n/an/a$100.00$25.00
Example 2 $100.00 $25.00$50.00n/a$50.00$25.00
Example 3 $100.00 $25.00$50.00$10.00$60.00$25.00
Example 4 $100.00 $25.00$100.00n/a$0.00n/a
Example 5 $100.00$25.00$100.00$10.00$10.00$10.00


• Statement Balance: Each month, we will debit the “Statement Balance” referenced in your monthly statement, OR the “Account Balance,” whichever is the lower of the two amounts when the AutoPay Payment begins processing.


Note:
We will debit your AutoPay Bank Account each month even if you made other payments between the statement issuance date and AutoPay Payment Date, including if you paid the “Statement Balance.” No debit will be made if you have a zero balance “Account Balance” when the AutoPay Payment begins processing. (We will generally begin processing your AutoPay Payment 1-2 days before your due date.)

Examples:

Statement
Balance on
1/1/2012
Minimum
Amount Due
on 1/1/2012
Additional
Payment on
1/20/2012
Posted
Charge on
1/22/2012
Account
Balance when
AutoPay
Processed
AutoPay
Payment on
Due Date of
1/26/2012
Example 1 $100.00 $25.00n/an/a$100.00$100.00
Example 2 $100.00 $25.00$50.00n/a$50.00$50.00
Example 3 $100.00 $25.00$50.00$10.00$60.00$60.00
Example 4 $100.00 $25.00$100.00n/a$0.00n/a
Example 5 $100.00$25.00$100.00$10.00$10.00$10.00


• Fixed Amount: Each month, we will debit the “Fixed Amount” OR the “Statement Balance” OR the “Account Balance,” whichever is the lowest of the three amounts when the AutoPay Payment begins processing.

Note: We will debit your AutoPay Bank Account each month even if you made other payments between the statement issuance date and AutoPay Payment Date, including if you paid greater than or equal to the “Fixed Amount.” No debit will be made if you have a zero balance “Account Balance” when the AutoPay Payment begins processing. (We will generally begin processing your AutoPay Payment 1-2 days before your due date.)

Examples (Note: Customer elects for a $35 “Fixed Amount”):

Statement
Balance on
1/1/2012

Minimum
Amount Due
on 1/1/2012

Additional
Payment on
1/20/2012
Posted
Charge on
1/22/2012
Account
Balance when
AutoPay
Processed
AutoPay
Payment on
Due Date of
1/26/2012
Example 1 $100.00 $25.00n/an/a$100.00$35.00
Example 2 $100.00 $25.00$50.00n/a$50.00$35.00
Example 3 $100.00 $25.00$50.00$10.00$60.00$35.00
Example 4 $100.00 $25.00$100.00n/a$0.00n/a
Example 5 $100.00$25.00$100.00$10.00$10.00$10.00


Your monthly billing statement will indicate your “Minimum Amount Due” and “Statement Balance” prior to the date on which we will debit your account. If your due date falls on a Sunday, legal holiday or other day that we are not open for business, we will process your payment on the next available business day. However, the payment will be credited to your account as if it had been processed and posted on the due date. All payments are subject to further verification and payment as well as the terms and conditions for your credit card and deposit accounts.


For any automatic payment option above that you have selected, Capital One will not debit your account by an amount that will cause your credit card account to have a credit balance. You authorize Capital One to reduce the amount of the debit previously disclosed to you on your billing statement so that the amount debited does not exceed the account balance as of the time we begin processing your payment.

If funds are not fully available at any time during your participation in the Capital One automatic payment program, or your account is otherwise not in good standing, we reserve the right to terminate your participation therein. If your account is unenrolled for any reason, you will receive an email alert notifying you that your account has been unenrolled.

You must notify us if (a) any information changes regarding your bank account, or (b) if you wish to change the account or financial institution from which your payment is debited, or (c) if you wish to stop a payment or discontinue your participation in the program. You may cancel or edit any payment by following the links found on the Payments Activity page and will not incur a charge for canceling or editing a payment prior to being processed by us. You understand and agree that once we have begun processing a payment it cannot be canceled or edited by us.

Electronic Authorization Consent:

When you make an automatic monthly payment arrangement, we are required by law and regulation to provide you with a writing describing the terms of that payment arrangement. To use this online service, you must agree to receive the terms of the authorization electronically. You also agree that your electronic acceptance of the terms of the authorizations will constitute a valid and binding electronic signature that will have the same force and effect as a handwritten signature by you.

When scheduling an AutoPay series, you have the right to receive notice where your payment amount is different than your previous payment or from your preauthorized amount. Capital One will provide such notice on your statement.

Hardware and Software Requirements

To access and retain the information subject to this consent, you must have or have access to equipment that meets the hardware and software requirements:

  • Either the Windows operating system or Macintosh OS X.
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