Preauthorized Transfers from Your Account Sample Clauses

Preauthorized Transfers from Your Account. Stop Payment. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here’s how: Call us toll-free at 0-000-000-0000 or 0-000-000-0000 and ask for the Deposit Operations Department or write us at Essex Savings Bank, P.O. Box 950, Essex, Connecticut 06426, Attention: Deposit Operations Department, 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 may also require you to put your request in writing and get it to us within 14 days after you call. If we require you to put your request in writing and send it to us within the 14 days and you do not do so, then your oral stop payment order will cease 14 days after it has been made and we may make the payment if it is demanded by the particular person or organization involved.
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Preauthorized Transfers from Your Account. You may use your Account or debit card to make recurring payments by preauthorizing an electronic fund transfer from one of your WaFd Bank Checking or Money Market Accounts to a xxxxxxxx.xxx 15 payee you designate. If these recurring payments vary in amount, the person you are going to pay should tell you the amount and date of the next payment at least 10 calendar days before the payment due date. Visa may provide updated debit card information, including your expiration date and card number, with merchants that have an agreement for reoccurring payments. You may opt out of this service by calling 0-000-000-0000. Stop Payment of Preauthorized Transfers You can stop a recurring payment from your Account by contacting us by phone or by visiting a Bank branch at least three Business Days before the scheduled date of the transfer you wish to stop. If you provided your debit card number for the preauthorized transfer, we may either cancel the card and issue a new one to replace it or block specified payments from your Account for the payee whose name you provide us. If you provided your Account number and the Bank routing number to authorize the payment (an ACH direct debit), we will block the payments you specify from the payee whose name you provide us. You will need to provide us with your card number, if applicable, your Account number, the exact name of the payee, and the amount of the payment. All oral requests must be confirmed within 14 calendar days of the request using our stop payment form. If you cannot provide all the information requested in the stop payment form, we may not be able to process your request. If you order us to stop one of these payments three Business Days or more before the transfer is scheduled, and we do not do so, we will only be liable for the amount of your actual loss and damage. Stop payment orders using the Bank’s stop payment form are effective until removed by you. The fee for stop payment orders is available in the current Consumer Fee Schedule. Preauthorized Transfers to Your Account We provide preauthorized credit services, which is referred to as Direct Deposit of Recurring Payments. This service allows you to ask that recurring payments, which you designate, such as Social Security or payroll, be deposited directly to your Account. If you have made arrangements to have direct deposits made to your Account from the same person or company at least once every 60 calendar days, you may call your branch to learn if the ...
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Preauthorized Transfers from Your Account. 1. The Bank will process pre-authorized transfers from your accounts as long as you provide such authorization in writing. The authorization for the Bank to make transfers from your Account can be made:
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Preauthorized Transfers from Your Account 
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Related to Preauthorized Transfers from Your Account

  • Preauthorized Transfers The Card 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 Card Account number to anyone. Using the Card/Features The maximum value of the Card is restricted to $25,000.00. These are the maximum amounts that can be spent on the Card: Transaction Type Frequency and/or Dollar Limits Card Purchases (Signature) 5 times per day, $5,000.00 per transaction, up to $25,000.00 per day* Card Purchases (PIN) 5 times per day, $5,000.00 per transaction, up to $25,000.00 per day* * Per day means rolling twenty-four (24) hour period beginning with the first applicable transaction You may use the Card to purchase or lease goods or services everywhere Visa, Maestro card, Interlink cards are accepted as long as you do not exceed the available value of the Card Account and other restrictions (see examples described below) do not apply. Some merchants do not allow cardholders to conduct split transactions where you use the Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge only the exact amount of funds available on the Card Account to the Card. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping the Card, the Card is likely to be declined. If you use the Card at an automated fuel dispenser (“pay at the pump”), the transaction may be preauthorized for an amount up to $75.00 or more. If the Card is declined, even though there are sufficient funds available, you should pay for your purchase inside with the cashier. If you use the Card at a restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be preauthorized for the purchase amount plus up to 20% or more to ensure there are sufficient funds available to cover tips or incidental expenses incurred. A preauthorization will place a “hold” on those available funds until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the preauthorized amount on hold will be removed. It may take up to seven (7) days for the hold to be removed. During the hold period, you will not have access to the preauthorized amount. You do not have the right to stop payment on any purchase or payment transaction originated by use of the Card. If you authorize a transaction and then fail to make the purchase of that item as planned, the approval may result in a hold for that amount of funds for up to thirty (30) days. All transactions relating to car rentals may result in a hold for that amount of funds for up to sixty (60) days. If you use the Card number without presenting the Card (such as for a mail order, telephone, or Internet purchase), the legal effect will be the same as if you had used the Card itself. Card Account restrictions include, but are not limited to: restricted geographic or merchant locations where there is a higher risk of fraud or illegal activity; restrictions to comply with laws or prevent our liability; and other restrictions to prevent fraud and other losses. For security reasons, we may, with or without prior notice, limit the type, amount, or number of transactions you can make on the Card. You may not use the Card for illegal online gambling or any other illegal transaction. We may increase, reduce, cancel, or suspend any of the restrictions or add new ones at any time. The Card cannot be redeemed for cash. Each time you use the Card, you authorize us to reduce the available value of the Card Account by the amount of the transaction and any applicable fees. You are not allowed to exceed the available amount in the Card Account through an individual transaction or a series of transactions. Nevertheless, if a transaction exceeds the available balance of funds on the Card, you shall remain fully liable to us for the amount of the transaction and any fees, if applicable. Non-Visa Debit Transactions Procedures are in effect that may impact you when you use the Card at certain merchant locations. In the past, transactions have been processed as Visa debit transactions unless you entered a PIN. If you do not enter a PIN, transactions may be processed as either a Visa debit transaction or as an Interlink or Maestro transaction. Merchants are responsible for and must provide you with a clear way of choosing to make a Visa debit transaction if they support the option. Please be advised that should you choose to use the Interlink or Maestro network when making a transaction without a PIN, different terms may apply. Certain protections and rights applicable only to Visa debit transactions as described in this Agreement will not apply to transactions processed on the Interlink or Maestro networks. Please refer to the paragraph labeled “Your Liability for Unauthorized Transfers” for a description of these rights and protections applicable to Visa debit and non-Visa debit transactions. To initiate a Visa debit transaction at the POS, swipe the Card through a POS terminal, sign the receipt, or provide the 16- digit Card number for a mail order, telephone, or Internet purchase. To initiate a non-Visa debit transaction at the POS, enter the PIN at the POS terminal or provide the 16-digit Card number after clearly indicating a preference to route the transaction as a non-Visa debit transaction for certain bill payment, mail order, telephone, or Internet purchases.

  • Liability for Failure to Stop Payment of Preauthorized Transfers If you order us to stop payment of a preauthorized transfer three (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.

  • Debiting your account 1.1 By signing a Direct Debit Request or by providing us with a valid instruction, you have authorised us to arrange for funds to be debited from your account. You should refer to the Direct Debit Request and this agreement for the terms of the arrangement between us and you.

  • Your Liability for Unauthorized Transfers Immediately following your discovery of an unauthorized Payment Instruction, you shall communicate with customer care for the Service in the manner set forth in Section 6 of the General Terms above. You acknowledge and agree that time is of the essence in such situations. If you tell us within two (2) Business Days after you discover your password or other means to access your account through which you access the Service has been lost or stolen, your liability is no more than $50.00 should someone access your account without your permission. If you do not tell us within two (2) Business Days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your password or other means to access your account if you had told us, you could be liable for as much as $500.00. If your monthly financial institution statement contains payments that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we will extend the time periods specified above to a reasonable period.

  • ACH & Wire Transfers If we provide the service, you may initiate or receive credits or debits to your account through wire or ACH transfer. You agree that if you receive funds by a wire or ACH transfer, we are not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. We may provisionally credit your account for an ACH transfer before we receive final settlement. We may reverse the provisional credit or you will refund us the amount if we do not receive final settlement. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number as the proper identification even if it identifies a different party or institution.

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