What is an "Automatic-Payment Stipulation"?

Sunlight Financial offers customers a 0.50% discount on their HI loan for making payments automatically via ACH (with limited exceptions for certain Channel Partners), if they provide the required information before installation.

If the customer chooses to pay via ACH but does not provide the correct bank account information, an annual percentage rate (“APR”) or automated clearing house (“ACH”) stipulation is placed on their account. The ACH stipulation applies when there is no discount available and the APR stipulation applies if there is a discount available but the required information is missing. However, both stipulations request the customer’s correct bank account information. 

How do I clear this stipulation?

If the customer did not provide their correct bank account information on their payment election form, they may do one of the following:

• Upload a personal voided check to Sunlight’s secure upload portal using the stipulation email they received or have their installer representative upload a voided check using the Orange Portal.
• Manually enter their bank account information via Sunlight’s secure upload portal using the stipulation email they received.
• Email a personal voided check or official bank document to support@sunlightfinancial.com.
• Call Sunlight’s Customer Support Line at 888-850-3359.

Acceptable documents: 

• Personal voided check (the customer can request an electronic copy of a voided check from their bank at no charge)
• Official bank document - direct deposit form or official bank letter
• Customers may call Sunlight’s Customer Support Line at 888-850-3359 and provide banking information or manually enter banking information via Sunlight’s secure upload portal

Unacceptable documents: 

• Business account checks (only personal accounts can be used)
• Deposit slips/tickets (not to be confused with a direct deposit form)
• Screenshots of bank account information from a bank app or website, etc.
• Handwritten bank account information
• Check or document not tied to the customer

Important: To qualify for the 0.50% APR discount, the customer must provide their bank information and enroll in ACH payments prior to loan book date.

After the loan is booked, Sunlight is unable to accept the ACH information or change the customer’s APR. Customers may still contact their lender to enroll in ACH and receive the discounted rate, but the discounted rate will only apply starting the day they were enrolled.

If the customer wishes to opt out of ACH payments, the customer may call Sunlight at (888) 850-3369 or their lender directly. A sales representative cannot opt a customer out on their behalf. Opt-out requests must be confirmed by customers only. 

Need more help? Contact the Sunlight Financial Support line at 888-850-3359 for further clarification or assistance if needed.