Last updated January 6, 2023

In this Standing Authorization, the terms “you,” “your,” and “yours” refer to the borrower subject to the Rocket Visa Signature Card Credit Card Cardholder Agreement, powered by Deserve®, and executed with Celtic Bank. By agreeing to the terms of this Standing Authorization, you authorize Rocket Card, LLC,  Rocket Money, Inc. and any of their successors, assigns, agents, partners, and/or service providers (“Rocket ”) to initiate debit and credit entries, and, if applicable, to correct erroneous entries, to the external deposit account you designate in the Rocket Dashboard or Rocket Money app (“Designated Payment Account”) via an electronic fund transfer (“EFT”) through the Automated Clearing House (“ACH”) pursuant to this Standing Authorization for payments you owe under the Rocket Visa Signature Card Credit Card Cardholder Agreement. You authorize Rocket to initiate such entries in accordance with the payment option that you designate in the Rocket Dashboard or Rocket Money app for that EFT payment, as described in greater detail below. You understand that the amount and timing of any EFT payment may vary depending on the payment option you designate.

This Standing Authorization will remain in full force and effect until you notify Rocket that you wish to revoke this Standing Authorization by contacting us by email at support@rocketcard.com. You may revoke this Standing Authorization at any time; however, you must notify Rocket at least three (3) business days before any EFT payment is scheduled to occur to prevent the upcoming transaction from processing. Rocket reserves the right to terminate this Standing Authorization at any time, for any reason, including but not limited to any breach of this Standing Authorization or your failure to comply with federal and/or state laws or the rules of the National Automated Clearing House Association (“NACHA”). You understand that if you revoke this Standing Authorization, you will still be required to make any required payments due under your Rocket Visa Signature Card Credit Card Cardholder Agreement.

You understand that by providing Rocket with a Designated Payment Account, you certify that you own and are authorized to use the Designated Payment Account for the transactions authorized by this Standing Authorization. To make an EFT payment, you understand that you must have the full payment amount available in your Designated Payment Account on the scheduled payment date for the payment option you select. You further understand that you can change the Designated Payment Account at any time by linking and/or designating a new deposit account in the Rocket Dashboard or Rocket Money app and providing Rocket with any required information.

You acknowledge and understand that EFT payments must comply with U.S. law and NACHA rules. If the EFT payment date falls on a weekend or holiday, it will be credited as of the next business day.

If your EFT payment is returned for any reason, including insufficient funds (“NSF”), Rocket may, at its discretion, attempt to process the entry again, if permitted by applicable law and NACHA rules. You authorize Rocket to initiate any entries to your Designated Payment Account for any returned EFT, or to correct any errors. You acknowledge that Rocket may assess a fee for any EFT that is returned, and you authorize Rocket to debit your Designated Payment Account in the amount of the fee if your payment is returned unpaid and you are assessed a fee. You understand that in addition to the fees that Rocket may assess, your financial institution may charge an overdraft or other fees. Rocket is not responsible for any fees assessed by your financial institution.

This Standing Authorization is further subject to the Rocket Family of Companies Privacy Policy and any other agreement or consent to conduct transactions with Rocket electronically.

Payment Options Authorized under this Standing Authorization

Rocket provides you with three (3) different payment options. Each option is described below. By agreeing to these terms, you authorize Rocket to initiate entries in accordance with the option that you have designated in the Rocket Dashboard or Rocket Money app. You may designate and change your payment option at any time in the Rocket Dashboard or Rocket Money app.

1. Manual Payments:

If you select the Manual payment option, you authorize Rocket to initiate a one-time debit entry from your Designated Payment Account via EFT (a “Manual Payment”) pursuant to this Standing Authorization. Your Designated Payment Account will be debited in the specific amount that you select for your Manual Payment immediately or on the date you specify. You understand and agree that any Manual Payment is subject to the Terms of Service and all provisions of this Standing Authorization.

2. Autopay Payments:

If you select the Autopay payment option, you authorize Rocket to automatically initiate regularly scheduled, recurring debit entries each billing period to your Designated Payment Account via EFT in the amounts and on the dates you designate in the Rocket Dashboard or Rocket Money app (each, an “Autopay Payment”) pursuant to this Standing Authorization. You understand that the amount of your Autopay Payment may vary depending on the following option you designate:
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1. Minimum Payment: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the minimum payment amount referenced in your monthly statement for your Rocket Visa Signature Card account or by the remaining minimum payment, whichever is less.
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2. Statement Balance: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account or by the remaining statement balance, whichever is less.
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3. Current Balance: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the amount of the “Current Balance” shown in your Rocket Dashboard or Rocket Money app for your Rocket Visa Signature Card account at the scheduled date of the Autopay Payment.

4. Custom Payment: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the “Custom Amount” you select in the Rocket Dashboard or Rocket Money app. The Custom Amount you select must fall within the specified range of amounts between zero and the “Current Balance” shown in your Rocket Dashboard or Rocket Money app on your Rocket Visa Signature Card account at the scheduled time of the Auto Payment. If the “Custom Amount” you select exceeds the “Current Balance” shown in your Rocket Dashboard or Rocket Money app on your Rocket Visa Signature Card account at the scheduled date of the Autopay Payment, Rocket will reduce the amount of the debit entry to equal the “Current Balance” (shown in your Dashboard or Rocket Money app).

You acknowledge and agree that Rocket will initiate between the statement issuance date and the scheduled date of the Autopay Payment, including if you paid the “Minimum Payment” or “Statement Balance.” You acknowledge that no entry will be made if you have no balance on your Rocket Visa Signature Card account on the scheduled date of the Autopay Payment. You further acknowledge and understand that for any Autopay Payment, Rocket will not initiate a debit entry to your Designated Payment Account in an amount that will cause your Rocket Visa Signature Card account to have a credit balance.

3. Smartpay Payments:

If you select the recurring Smartpay payment option, you authorize Rocket to initiate recurring debit entries to your Designated Payment Account via EFT in an amount and frequency that may vary depending on the selected payment preferences and limits that you select in the Rocket Dashboard or Rocket Money app (a “Smartpay Payment”), including but not limited to, your selected maximum daily payment, your selected minimum account balance of your Designated Payment Account, and your current cash flow. You understand and agree that, subject to your selected payment preferences, Rocket may initiate a Smartpay Payment in any amount, and at any frequency, subject to a range between a minimum payment of $0.01 and a maximum payment that will not exceed the “Current Balance” shown in your Rocket Dashboard or Rocket Money app for your Rocket Visa Signature Card account at the time of the Smartpay Payment.

You further understand that you can change your selected payment preferences for Smartpay Payments at any time in the Rocket Dashboard or Rocket Money app.

If the total amount of your Smartpay Payments during the statement cycle is less than the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account, then you authorize Rocket to initiate the “fallback plan” you select in the Rocket Dashboard or Rocket Money app. If the total amount of your Smartpay Payments during the statement cycle is less than the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account and you have selected a “fallback plan” that directs Rocket,” then you authorize Rocket Payment Account in the amount selected in your “fallback plan” (“Fallback Payment”). Rocket initiates the Fallback Payment on the business day preceding the payment due date identified in your monthly statement for your Rocket Visa Signature Card account. If you have selected the “Do nothing, but alert me” option for your “fallback plan,” then Rocket initiates a debit to your Designated Payment Account. You will still be required to make any required payments due under your Rocket Visa Signature Card Credit Card Cardholder Agreement.

You acknowledge and agree that Rocket Smartpay Payments even if you made other payments between the statement issuance date and the date of the Smartpay Payment, including if you paid the “Minimum Payment” or “Statement Balance.” You acknowledge that no entry will be made if you have no balance on your Rocket Visa Signature Card account. You further acknowledge and understand that Rocket Money will not initiate a debit entry to your Designated Payment Account in an amount that will cause your Rocket Visa Signature Card account to have a credit balance.

Please print or save a copy of this Standing Authorization for your records. Alternatively, contact Rocket at support@rocketcard.com to learn how you can obtain a copy.