Payment Reasons: Wire Payments

Payment for services rendered or goods purchased (e.g. vehicle repairs).

Movement of funds into a RocketKOR Financial Account where the push is originated from outside RocketKOR (e.g. an individual or financial institution deposits funds into a Financial Account).

Disbursements of emergency disaster relief funds from a business responsible for program administration to first responders (government or NGO personnel and volunteers) and beneficiaries designated by a government or NGO.

Disbursements of reimbursements for IRS-eligible healthcare expenses from an FSA/HRA administrator or clinical trial expenses from a clinical trial administrator.

Disbursements of insurance claims from an insurance business to its insured customers.

Disbursement of litigation or settlement payments from a third-party escrow agent.

Disbursement of loan proceeds from a lender where the Originating Institution verifies on an ongoing basis that the lender: (i) is engaging in lawful lending activity in applicable jurisdictions; and (ii) follows responsible lending best practices such as: (A) transparency (i.e. clear loan pricing, nondeceptive marketing and communications, and adequate disclosures); (B) responsible products that consider the borrower’s repayment ability, involve nonusury effective APR rates, and include fair underwriting factors; (C) nondiscrimination in lending practices; and (D) non-abusive collection practices.

Disbursements of rebates associated with the purchase of goods and services by a business.

Disbursement of compensation (e.g., salary, earned remuneration) from a business to its employees, contractors, or agents.

Disbursement of amounts for incurred expenses or other losses from a business to customers (e.g., an airline compensating a traveler for lost baggage).

Disbursements of earned but unpaid compensation by a business that is authorized by the business/merchant that will owe compensation to a Consumer that is its employee, contractor or agent to advance funds to such Consumer where the Originating Institution verifies on an ongoing basis that the business: (i) has no legal, contractual claim or remedy against the Consumer if the Consumer is unable to repay; and (ii) will not engage in debt collection activities or report nonpayment to a consumer reporting agency.