Saved Payment Methods
Last Updated: July 29, 2026
This disclosure explains what happens when you choose to save a bank account for future payments made through SkyFi's Pay-by-Bank or related payment flows. It applies to you as the payer ("you"), the merchant or business you are paying ("Merchant"), and SkyFi as the technology platform facilitating the payment. Banking services and ACH settlement are provided by Grasshopper Bank, N.A., Member FDIC. SkyFi is a financial technology company and program manager. It is not a bank.
Saving your bank account
When you choose to save your bank account for future payments, you authorize the Merchant, and SkyFi and its service providers acting on the Merchant's or platform's behalf, to securely retain your payment method (or a tokenized representation of it) so that future payments you affirmatively initiate can be completed without requiring you to re-enter the same bank account details.
Saving your payment method is optional and is offered solely for your convenience. Declining to save a payment method will not prevent you from completing a one-time payment using other available options.
By saving a payment method, you represent that you are the owner of the bank account (or are otherwise authorized to use it and to grant this authorization), and that the information you provide is accurate and complete.
What saving does and does not authorize
Does authorize
- Secure retention of your payment method (or token) for convenience
- Use of that saved method for future payments you affirmatively initiate
Does not authorize
- Recurring, scheduled, or automatic withdrawals by default
- Merchant-initiated charges without a separate, specific authorization
- Use of your bank account for purposes unrelated to payments you authorize
Saving a payment method is not, by itself, an authorization for recurring or automatic ACH debits. Recurring, installment, or other Merchant-initiated payments require a separate enrollment or authorization that clearly describes the amount (or method of determining the amount), timing, and how to cancel.
Each payment using a saved method remains a separate ACH transaction and must be supported by a valid authorization under the NACHA Operating Rules and applicable law. Retention of a saved method does not replace the need for proper payment authorization at the time of each transaction.
How your information is protected
Tokens and encryption
SkyFi and its service providers use industry-standard security practices to protect payment information in transit and at rest. Where supported, secure payment tokens or encrypted credentials are stored in place of your full bank account and routing numbers.
No method of transmission or storage is completely secure. You should notify the Merchant and SkyFi promptly if you believe your saved payment method has been used without authorization or if your account credentials have been compromised.
Plaid and saved verification
If your bank account is verified through Plaid, secure verification information, account identifiers, or tokens may be retained so you do not need to reconnect or reverify the same bank account each time you make a future payment through a supported flow.
Plaid is an independent third party. SkyFi does not control Plaid's systems. How Plaid collects, uses, and shares information is governed by Plaid's own terms and privacy practices. For more information, review the Plaid End User Privacy Policy.
Credentials stay private
For Plaid-supported institutions, authentication is handled through Plaid's secure flow. SkyFi does not receive your online banking username or password. Depending on the verification method used, limited account details necessary to process ACH payments (such as account and routing information or tokens representing them) may still be made available to SkyFi and/or the Merchant to complete payments you authorize.
Removing, updating, or revoking
You may remove or update a saved payment method through any self-serve controls the Merchant or SkyFi makes available for that purpose. You may also contact the Merchant, or SkyFi support at support@skyfichecking.com or (844) 711-7467, to request removal of a saved payment method associated with a SkyFi-facilitated payment flow.
Removing a saved payment method stops its use for future payments. It does not cancel, reverse, or otherwise affect payments that have already been authorized, submitted, or processed. Requests to stop a specific pending or recurring ACH debit are handled under applicable stop-payment and authorization-revocation rules. See our ACH Stop Payments terms and ACH Processing Disclosure.
Merchants and SkyFi may remove, disable, or refuse to save a payment method at any time for fraud prevention, risk management, legal compliance, or if the underlying bank connection or token expires or becomes invalid.
Applicable rules and disputes
All future payments made with a saved payment method remain subject to: (i) the specific payment authorization you provide at the time of payment (or any separate recurring authorization you enroll in); (ii) the Merchant's applicable terms; (iii) SkyFi's Terms and Conditions and Privacy Policy; and (iv) the NACHA Operating Rules and applicable law governing ACH transactions, including return and unauthorized-entry rights where they apply.
ACH timing, returns, and error-resolution procedures are described in the ACH Processing Disclosure. Banking services related to ACH settlement are provided by Grasshopper Bank, N.A., Member FDIC.
Updates to this disclosure
We may update this disclosure from time to time. The "Last Updated" date at the top of this page indicates when this disclosure was most recently revised. Continued use of the saved payment method feature after an update constitutes acknowledgment of the revised disclosure, to the extent permitted by applicable law.
Related disclosures
For more detail on ACH processing, privacy practices, and platform terms, see: