Common use of Notice of Varying Payment Amounts Clause in Contracts

Notice of Varying Payment Amounts. If you arrange with a third party for periodic electronic payments from your account that vary in amount, the third party is required by regulation to tell you, 10 calendar days before each electronic payment is scheduled to occur, when the electronic payment will be made and how much it will be. You may choose instead to get this notice only when the electronic payment would differ by more than a certain amount from the previous one, or when the amount would fall outside certain limits that you set.