Common use of Stopping Preauthorized Payments Clause in Contracts

Stopping Preauthorized Payments. Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how: Call or write us at the telephone number or address listed in this agreement in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we will also require you to put your request in writing (may be faxed) and get it to us within 14 days after you call. We will charge you a fee for each stop-payment order you give in accordance with the appropriate Fee Schedule for this Service located in Deposit Account Agreement and the Business Member Service Agreement. Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. Online bill payments are not regarded as preauthorized payments and are not subject to the above written terms.

Stopping Preauthorized Payments. Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how: Call or write us at the telephone number or address listed in this agreement brochure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we will also require you to put your request in writing (may be faxed) and get it to us within 14 days after you call. We will charge you a fee $20.00 for each stop-payment order you give in accordance with the appropriate Fee Schedule for this Service located in Deposit Account Agreement and the Business Member Service Agreementgive. Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. Online bill ▇▇▇▇ payments are not regarded as preauthorized payments and are not subject to the above written terms.