Common use of Automatic Repayment Clause in Contracts

Automatic Repayment. By opening a Varo Advance Account and requesting an Advance, you agree and consent to repay your Advance in a single automatic repayment from your Bank Account. At the close of business on the auto-repayment date you selected, the outstanding balance, which can be up to the Advance amount plus any fees due, will be automatically deducted from your Bank Account. If your Bank Account has insufficient funds on or after the auto-repayment date, we’ll deduct any balance owed from incoming deposits to your Bank Account until the Advance is fully repaid.

Automatic Repayment. By opening a Varo Advance Account account and requesting an a Varo Advance, you agree and consent to repay your Varo Advance in a single automatic repayment from your Varo Bank Account. At the close of business on the auto-repayment date you selected, the outstanding balance, which can be up to the Varo Advance amount plus any fees due, will be automatically deducted from your Varo Bank Account. If your Varo Bank Account has insufficient funds on or after the auto-repayment date, we’ll deduct any balance owed from incoming deposits to your Varo Bank Account until the Advance is fully repaid.