69V-560.910. Deferred Presentment Database Transaction Fees  

Effective on Thursday, November 28, 2019
  • 1(1) The database transaction fee shall be $1.00 per transaction 11for deferred presentment transactions not repayable in installments, and $1.00 for each full or partial 30-day period that a balance is scheduled to be outstanding for a deferred presentment installment transaction42. A provider shall be assessed this fee for each transaction that has been both registered and recorded on the 62deferred presentment 64database. On behalf of the Office of Financial Regulation, the 74deferred presentment 76database vendor shall 79make available 81electronically an invoice to the provider for its transaction fees at least five (5) 95business 96days before payment is due and the provider shall pay each such invoice within five (5) 112business 113days of the invoice date. The 119deferred presentment 121database vendor shall submit such invoices for payment to the provider every seven (7) 135calendar 136days.

    137(2) The 139deferred presentment 141database vendor shall collect all transaction fees on behalf of the Office of Financial Regulation. A provider has the option of paying for transactions by ACH payment to be initiated by the 173deferred presentment 175database vendor, at no cost to the provider; by EFT to be initiated by the provider, at the provider’s expense; or by any other commercially electronic methods of payment. If the provider elects to pay by ACH, the provider must sign a form authorizing the 220deferred presentment 222database vendor to initiate debit entries for transaction fees and to initiate, if necessary, credit entries and adjustments for any debit entries made in error to the provider’s bank account.

    252Rulemaking Authority 254560.105, 255560.404(24) FS. 257Law Implemented 259560.404 FS. 261History–New 4-17-02, Formerly 3C-560.910, Amended 11-28-19.