What is Recurring EFT, the payment system required by Americas Best Value Inn, also known as?
Americas_Best_Value_Inn Franchise · 2025 FDDAnswer from 2025 FDD Document
Unless otherwise directed by us, all payments required to be provided by you to any of our affiliates or us will be effectuated by an automated payment system using automatically recurring electronic funds transfer that we initiate ("Recurring EFT"), also known as Auto Pay.
You will authorize automatically Recurring EFT payments prior to activation in the Brand and will cooperate with us to implement and maintain the efficient process of Recurring EFT payments.
You must ensure that we have up-to-date viable payment instructions (e.g., bank account and routing numbers) at all times during the Term of this Agreement.
You also shall maintain such bank account(s) for such payments and shall maintain an account balance that at least covers your Royalty and Brand Promotion Fee and any other fee described in Section 4.
You shall not alter or close any such account, except with our prior written approval.
If we permit you to pay by any other means, we may require payment of an alternative payment fee that is subject to change.
We may, at any time, modify the required method of payment by providing you with at least 30 days' prior notice.
Source: Item 23 — RECEIPTS (FDD pages 71–223)
What This Means (2025 FDD)
According to the 2025 Americas Best Value Inn Franchise Disclosure Document, Recurring EFT, the payment system franchisees are required to use, is also known as Auto Pay.
Americas Best Value Inn requires franchisees to authorize automatically recurring electronic funds transfers, which the company initiates, prior to the hotel's activation in the brand. Franchisees must also cooperate with Americas Best Value Inn to implement and maintain this payment process.
Franchisees must ensure that Americas Best Value Inn has up-to-date and viable payment instructions, such as bank account and routing numbers, throughout the term of the agreement. They must also maintain a bank account with a balance sufficient to cover Royalty and Brand Promotion Fees, as well as any other fees outlined in Section 4 of the agreement. Franchisees cannot alter or close this account without prior written approval from Americas Best Value Inn. However, Americas Best Value Inn may modify the required payment method with at least 30 days' prior notice. If Americas Best Value Inn permits payment by other means, they may require an alternative payment fee, which is subject to change.