Common use of Stop Payment Right Clause in Contracts

Stop Payment Right. If you have arranged in advance to make regular EFT transactions out of your account(s), you may stop payment of preauthorized transfers (excluding Online and Mobile Banking Bill Payments) from your account. You must notify the Credit Union orally or in writing at any time up to three (3) business days before the scheduled date of the transfer.

Stop Payment Right. If you have arranged in advance to make regular EFT transactions out of your account(s)accounts, you may stop payment of preauthorized transfers (excluding Online and Mobile Banking Bill Payments) from your account. You must notify the Credit Union us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop-payment order to be made within 14 days of any oral notification. If we do require the written confirmation, the oral stop-payment order shall cease to be binding 14 days after it was made.