What is the Alloy franchisee responsible for regarding electronic transfer of funds?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
| (full name) | I authorize Alloy Personal Training, LLC. to charge my bank |
|---|---|
| technology fee. | account indicated below weekly on Wednesdays for royalties, brand development fund and the |
| Billing Address | Phone# |
| City, State, Zip | |
| Account Type: | Savings |
| Checking | |
| Name on Acct | |
| Bank Name | |
| Account Number | |
| Bank Routing # | |
| Bank City/State |
I understand that this authorization will remain in effect until I cancel it in writing, and I agree to notify Alloy Personal Training, LLC in writing of any changes in my account information or termination of this authorization at least 15 days prior to the next billing date. If the above noted periodic payment dates fall on a weekend or holiday, I understand that the payment may be executed on the next business day. I understand that because this is an electronic transaction, these funds may be withdrawn from my account as soon as the above noted periodic transaction dates. In the case of an ACH Transaction being rejected for Non Sufficient Funds (NSF) I understand that Alloy Personal Training, LLC may at its discretion attempt to process the charge again within 30 days, and agree to an additional $25 charge for each attempt returned NSF which will be initiated as a separate transaction from the authorized recurring payment. I acknowledge that t
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, the franchisee is responsible for several aspects related to electronic fund transfers. The franchisee must provide written notification to Alloy Personal Training, LLC regarding any changes to their account information or termination of the electronic transfer authorization. This notification must be given at least 15 days before the next billing date. If a scheduled payment date falls on a weekend or holiday, the franchisee acknowledges that the payment may be processed on the next business day.
The franchisee understands that due to the electronic nature of the transactions, funds may be withdrawn from their account as soon as the periodic transaction dates occur. In the event of a Non-Sufficient Funds (NSF) rejection, Alloy has the discretion to reattempt the charge within 30 days. The franchisee agrees to pay an additional $25 charge for each NSF attempt, which will be processed as a separate transaction from the authorized recurring payment.
Furthermore, the franchisee acknowledges that the origination of ACH transactions to their account must comply with U.S. law. The franchisee also agrees not to dispute recurring billing with their bank, provided that the transactions align with the terms specified in the authorization form. These stipulations ensure that both the franchisee and Alloy adhere to legal and procedural requirements for electronic fund transfers, protecting both parties from potential disputes or financial discrepancies.