Preauthorized Transactions Clause Samples
The Preauthorized Transactions clause defines the rules and permissions for transactions that are authorized in advance by an account holder. Typically, this clause outlines the process by which a customer can permit recurring or one-time payments to be automatically deducted from their account, such as for monthly subscriptions or bill payments. Its core practical function is to streamline payment processes and ensure that both parties understand the conditions under which funds may be transferred without requiring separate authorization for each transaction, thereby reducing administrative burden and potential payment delays.
Preauthorized Transactions. Any authorization you make to initiate paperless debit or credit entries will remain in effect until we receive written notice from you that your authorization has been revoked in a manner and in time to provide us with a reasonable opportunity to act on it.
Preauthorized Transactions. There are no additional charges for your use of preauthorized electronic fund transfers except as stated in our fee schedule, which is incorporated into this document by reference. DISCLOSURE OF ACCOUNT INFORMATION. You agree that merchant authorization messages transmitted in connection with Point of Sale transactions are permissible disclosures of account information, and you further agree to release Community Financial Services Bank and hold it harmless from any liability arising out of the transmission of these messages. We will disclose information to third parties about your account or electronic fund transfers made to your account:
Preauthorized Transactions. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify the Credit Union orally or in writing in time for us to receive your request three (3) business days or more before the scheduled date of the transfer.
Preauthorized Transactions. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify the Credit Union orally or in writing in time for us to receive your request three (3) business days or more before the scheduled date of the transfer. The Credit Union may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do require the written confirmation, the oral stop payment order shall cease to be binding fourteen (14) days after it has been made. This means that the preauthorized payment and future preauthorized payments to the payee you identify may be paid by us from your account(s) after the 14th day. If you order us to stop a preauthorized transfer three business days or more before the transfer is scheduled, and the stop payment order is made according to the terms and conditions of the account and this Agreement, including the requirement that you give us the exact amount of the debit, the next date of the debit and the exact name of the payee, and we do not do so, we will be liable for your losses or damages proximately caused by our failure.
Preauthorized Transactions. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify the Credit Union in writing, in time for us to receive your request three (3) business days or more before the scheduled date of the transfer. The Credit Union may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do require the written confirmation, the oral stop payment order shall cease to be binding fourteen
Preauthorized Transactions. The Card cannot be used for preauthorized direct debits from merchants, Internet service or other utility service providers, or recurring transactions or subscriptions. 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 number to anyone. If you wish to purchase fuel, you must pay for your purchase inside with the cashier. The Card cannot be used for a “pay at the pump” transaction at an automated fuel dispenser. 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. Merchant Discrepancies, Returns and Refunds: If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the Card for such refunds and agree to the refund policy of that merchant. Any Merchant discrepancies, returns, or refunds must be addressed and handled directly with the merchant from whom the transaction posted or those goods or services were provided. Card Expiration and Replacement: The funds on the Card expire when the Card expires. You should use the funds on the Card before Card expiration, as the funds will not be made available to you after the Card expires. We are not responsible for replacing funds that may have expired. Replacement Cards will not be made available. The Card will expire no sooner than the date printed on the Card. If you need to replace the Card for any ...
Preauthorized Transactions. You may arrange to make regular payments out of your account using your Card number. You can stop any of these payments by first contacting the applicable merchant or third-party service provider to cancel the recurring payment. If the merchant or service provider with whom you have arranged recurring payments from your Card Account is unable or unwilling to stop your payment, call or write to Customer Service, 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. You are not authorized to provide the Issuer’s bank routing and account number to anyone for preauthorized transactions. Nevertheless, we have no obligation to stop any preauthorized transfer using the Issuer routing and account number, and your Card Account may be subject to closure if such preauthorized transfers are attempted or completed. You do not have the right to stop payment on a single 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.
Preauthorized Transactions. There are no additional charges for your use of preauthorized electronic fund transfers except as stated in our fee schedule, which is incorporated into this document by reference.
Preauthorized Transactions. If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by logging into Online Banking or calling the 24-Hour Account Information Line at ▇-▇▇▇-▇▇▇-▇▇▇▇. This does not apply to transactions occurring outside the United States.
Preauthorized Transactions a) If you have arranged to have direct deposits or preauthorized transactions made to or from your designated Account(s) at least once every sixty (60) days to or from the same person or company, you can log on to ONLINE BANKING and BILL PAYMENT twenty-four (24) hours a day to find out whether or not the deposit or transfer has been made, or you can call us at the telephone numbers shown in Section 6 above during our normal business hours.