Bill Paying Services for Individuals
Description of Services
SFT Monthly Bill Pay is a non-trust service offered through Santa Fe Trust to our trust clients throughout the country. Our trust clients can
engage SFT to pay recurring monthly bills for a minimal annual fee. All subscribers must sign a
written Bill Pay Service Agency Agreement and
provide a limited power of attorney. SFT also provides periodic statements for each Bill Pay account.
When one of our trust clients subscribes to SFT Bill Pay, the subscriber’s financial advisor will be asked to establish a brokerage account
in behalf of the subscriber. The financial advisor and subscriber are responsible for assuring that the necessary funds are in the brokerage
account at all times and to advise all creditors to be enrolled in the SFT Bill Pay program that they must send all bills and statements
directly to Santa Fe Trust. Santa Fe Trust cannot advance any funds on behalf of a subscriber to cover any bill. Periodically, and as
needed, Santa Fe Trust will request that the financial advisor transfer funds from the brokerage account to the subscriber’s cash management
account with SFT. Our authority to request these cash transfers is included in the Bill Pay Service Agency Agreement. Bills are then paid
from the cash management account.