Square Consumer Installments
Automated Monthly Payment Authorization
Updated: Oct 16, 2018
You authorize Square Capital, LLC (“Square Capital”) to make electronic charges from the debit card you have provided. You understand that these debits will occur monthly in the amount of your scheduled installment payment amount, including any applicable interest charges, and/or fees. You understand that if you miss any payment(s), subsequent debits may incorporate the amount of the originally scheduled payment, the missed payment, any previously missed payment, and any additional interest charges due as a result of a missed payment. You also authorize Square Capital to make electronic reversals or credits to your debit cards bank account, as applicable, in the event of an erroneous debit or as otherwise appropriate.
Your authorization continues until your installment plan is repaid or until you revoke your authorization. This authorization will remain in effect until you pay off your installment plan or if you otherwise revoke this authorization by notifying Square Capital at firstname.lastname@example.org. It may take as long as 10 days for Square Capital to complete your request, so any debit transaction scheduled before that time may be processed. If you revoke your authorization, you must establish an alternative way to repay your installment plan.
You are responsible for fees resulting from unsuccessful payment attempts. If Square Capital debits your debit card and there is a resulting payment decline, there are insufficient funds to cover the amount due, or the payment attempt is otherwise unsuccessful, then Square Capital may reinitiate attempt(s) to debit your debit card; you understand that you are responsible for any fees you may incur as a result of any initial or subsequent attempt(s).