Stop Payments On Preauthorized (Recurring) Payments Sample Clauses

The 'Stop Payments On Preauthorized (Recurring) Payments' clause allows an account holder to instruct their financial institution to halt future automatic payments that have been previously authorized. In practice, this means that if a customer has set up recurring payments—such as monthly subscriptions or utility bills—they can request the bank to stop these payments before the next scheduled transaction. This clause serves to give consumers control over their finances by enabling them to prevent unwanted or unauthorized withdrawals, thereby protecting them from continued charges for services they no longer wish to use or disputes with merchants.
Stop Payments On Preauthorized (Recurring) Payments. In orderto placea stop payment on a recurring payment processedvia Automated Clearing House (ACH) or a Debit Card, you may make these changes within your Digital Banking application. Forrecurring payments, we require 3 Business Days’ notice before the next payment is scheduled to be made. We have the right torefusea payment to a payee with a similar name that maybe thesame payee; however, we are not liable if we do not refuse the payment. If the payment has already been processed, you may need tofile an affidavit offraud or a card holder dispute by contacting us using the contact information located at the beginning of this Agreement.
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