Common use of Prohibition of compulsory use Clause in Contracts

Prohibition of compulsory use. No person may: - require you to use a preauthorized electronic funds transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Account Terms and Conditions

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Prohibition of compulsory use. No person may: - require -require you to use a preauthorized electronic funds fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require -require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require -require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Account Terms and Conditions

Prohibition of compulsory use. No person may: - require you to use a preauthorized electronic funds fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Account Terms and Conditions

Prohibition of compulsory use. No person may: - require -require you to use a preauthorized electronic funds fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require -require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Online & Mobile Banking Agreement

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Prohibition of compulsory use. No person may: - require -require you to use a preauthorized electronic funds fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require -require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if . If the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Online Banking/Bill Payment & Presentment Agreement

Prohibition of compulsory use. No person may: - require you to use a preauthorized electronic funds fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or - require you either to accept a transfer service or to establish an account account, which is accessed electronically as conditions of employment or receipt of governmental benefit, or - require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

Appears in 1 contract

Samples: Internet Banking Terms and Conditions Agreement

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