Common use of Preauthorized Transfers Clause in Contracts

Preauthorized Transfers. The Virtual Account cannot be used for preauthorized direct debits from merchants, Internet service or other utility service providers (“Merchants”). If presented for payment, preauthorized direct debits will be declined and payment to the Merchant or provider will not be made. You are not authorized to provide the combination of the Issuer’s bank routing number and the Virtual Account number to anyone.

Preauthorized Transfers. The Virtual Account cannot be used for preauthorized direct debits from merchants, Internet service or other utility service providers (“Merchants”)providers. If presented for payment, preauthorized direct debits will be declined and payment to the Merchant merchant or provider will not be made. You are not authorized to provide the combination of the Issuer’s bank routing number and the Virtual Account number to anyone.