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Posted: Tue May 13, 2008 9:37 am

Mr. xxxxx,

You should have your loan documents that would be where you need to send your notifications to. I can not tell you which of the companies that Intercept processing for, due to privacy policies that we have in place.
You can contact your bank and they can let you know who processed the transaction.

I want to make sure that you understand the only way to revoke your authorization is by the following the NACHA recommended steps outlined below:

* Contact your bank, the RDFI (Receiving Depository Financial Institution)
* Complete and provide a Written Statement Under Penalty of Perjury to your bank

Your bank can then return the transaction(s) as unauthorized to the originator of the transactions.

Intercept can not revoke the authorization for you. You must do this through your bank where your account is held.

Once Intercept has received a transaction returned unauthorized or authorized revoked, it is our policy to honor the request to not allow any future credit or debit transactions to that account.

Hmm...she told me that they process for two of the three PDLs I have...but couldn't tell me which ones???? Doesnt make sense to me...because of privacy issues...I had asked if I could carbon copy intercept on the emails to the PDLs so they knew I had contacted their ACH processor...and she said that I can only email or send my letters to the PDLs themselves. Not sure about how this entire processor thing works..why is it so different with everyone????

Posted: Tue May 13, 2008 9:43 am

Toledoguy, you may have overpaid the payday companies. If you borrowed $300.00 from e-payday and paid out $830.00 by my math(I am not that great at it but I can add and subtract lol) they owe you at least $530.00. I am going under the assumption that payday lending in your state is not legal!

Posted: Tue May 13, 2008 9:52 am

yeah...i have overpaid on all of them...by alot...i knew it was up there...but had no idea until i actually sucked it up and sat down and figured it out...just kinda stuck because I can't close my checking account due to work issues and national city has been less than cooperative putting a hard block on my account...saying....i need to file fraud charges with the police department and a written statement under penalty and perjury. Not only that...but I really cant afford having them call my job every half hour...i work in an office and dont answer the phone...i can only imagine what they will say....so i have just been sucking it up and paying on time with them until they are done...i thought there was light at the end of the tunnel with the processor stuff...but that just seems to be a dead end as well.

Guest · Posted: Tue May 13, 2008 10:13 am

Toledo I have not heard from Christy. After I sent the e-mail to the PDLs I have only received one phone call and they have not tried to debit my account at all. Let's just hope it stays that way. Christy e-mailed me that same e-mail except I called and asked INtercept if they procces for the PDL. They told me that over the phone. I've gotten so much help from everyone here. I was about to quit last week and with the advice from here, I kept going. Don't give up. Go to the bank with everything in hand.

Posted: Tue May 13, 2008 10:14 am

Sorry that was me.

Guest · Posted: Tue May 13, 2008 10:52 am

She is incorrect. Read below. Her client is responsible and, if her client fails to follow the law and she is put on notice, she is responsible. That's the law. She's clearly irritated with all the phone calls. If her clients followed the law, she wouldn't be having this problem.

§ 905. Terms and conditions of transfers

(a) The terms and conditions of electronic fund transfers involving a consumer's account shall be disclosed at the time the consumer contracts for an electronic fund transfer service, in accordance with regulations of the Board. Such disclosures shall be in readily understandable language and shall include, to the extent applicable--
(1) the consumer's liability for unauthorized electronic fund transfers and, at the financial institution's option, notice of the advisability of prompt reporting of any loss, theft, or unauthorized use of a card, code, or other means of access;
(2) the telephone number and address of the person or office to be notified in the event the consumer believes that an unauthorized electronic fund transfer has been or may be effected;
(3) the type and nature of electronic fund transfers which the consumer may initiate, including any limitations on the frequency or dollar amount of such transfers, except that the details of such limitations need not be disclosed if their confidentiality is necessary to maintain the security of an electronic fund transfer system, as determined by the Board;
(4) any charges for electronic fund transfers or for the right to make such transfers;
(5) the consumer's right to stop payment of a preauthorized electronic fund transfer and the procedure to initiate such a stop payment order;
(6) the consumer's right to receive documentation of electronic fund transfers under section 906;
(7) a summary, in a form prescribed by regulations of the Board, of the error resolution provisions of section 908 and the consumer's rights thereunder. The financial institution shall thereafter transmit such summary at least once per calendar year;
( Cool

the financial institution's liability to the consumer under section 910;
(9) under what circumstances the financial institution will in the ordinary course of business disclose information concerning the consumer's account to third persons; and
(10) a notice to the consumer that a fee may be imposed by--
(A) an automated teller machine operator (as defined in section 904(d)(3)(D)(i)) if the consumer initiates a transfer from an automated teller machine that is not operated by the person issuing the card or other means of access; and
(B) any national, regional, or local network utilized to effect the transaction.
(b) A financial institution shall notify a consumer in writing at least twenty-one days prior to the effective date of any change in any term or condition of the consumer's account required to be disclosed under subsection (a) if such change would result in greater cost or liability for such consumer or decreased access to the consumer's account. A financial institution may, however, implement a change in the terms or conditions of an account without prior notice when such change is immediately necessary to maintain or restore the security of an electronic fund transfer system or a consumer's account. Subject to subsection (a)(3), the Board shall require subsequent notification if such a change is made permanent.
(c) For any account of a consumer made accessible to electronic fund transfers prior to the effective date of this title, the information required to be disclosed to the consumer under subsection (a) shall be disclosed not later than the earlier of--
(1) the first periodic statement required by section 906(c) after the effective date of this title; or
(2) thirty days after the effective date of this title.

[Codified to 15 U.S.C. 1693c]

[Source: Section 905 of title IX of the Act of May 29, 1968 (Pub. L. No. 90--321), as added by title XX of the Act of November 10, 1978 (Pub. L. No. 95--630; 92 Stat. 3730), effective May 10, 1980; as amended by section 703 of title VII of the Act of November 12, 1999 (Pub. L. No. 106-102; 113 Stat. 1464), effective November 12, 1999]

Guest · Posted: Tue May 13, 2008 11:03 am

Do not believe for a second that she said the truth. In any way. They can reference your bank account number and see exactly what you are asking. If nothing else, insist that she get on the phone with your payday loan company on a conference call to verify that you have revoked authorization.
What would her answer be if you asked why her clients refuse to acknowledge that you have revoked authorization. Here's the law for that....Notice your right to revoke authorization 3 DAYS PRECEDING the transaction. That has nothing to do with your bank. It has to do with her clients and, by definition, her. Sorry!

§ 907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

[Codified to 15 U.S.C. 1693e]

[Source: Section 907 of title IX of the Act of May 29, 1968 (Pub. L. No. 90-321), as added by title XX of the Act of November 10, 1978 (Pub. L. No. 95-630; 92 Stat. 3733), effective May 10, 1980]

Posted: Tue May 13, 2008 11:06 am

So once you send the letter to the PDLs and they DO debit your account then you can go after the processor. Does that sound right?

Posted: Tue May 13, 2008 11:19 am

ok...sent another email to christy....i want to see how she responds to that? just curious.

Posted: Tue May 13, 2008 12:24 pm

You indeed have the right to revoke transactions. You need to contact your bank and give them the transactions that you want to revoke. By them returning the transaction to the originator as revoked if the company processes with Intercept we will not allow any future debits/credits of any amount to that account. So I would take your bank statement to the bank and reference the transactions that you wish to revoke. Intercept is not a financial institution. Your bank must honor your request to revoke transactions.

* Contact your bank, the RDFI (Receiving Depository Financial
Institution)
* Complete and provide a Written Statement Under Penalty of Perjury
to your bank

Christy XXXX
COO, AAP
Intercept EFT

ok...so now i think i understand how that works...but am out of town until next friday with work on a different project....great, by the time i get back and am able to take all of this ammo to the bank to finally get them to revoke debits...i will only owe the PDLs $50 each...arghhhh. This is a lot harder than I thought. Kudos to everyone that has had success.

Posted: Tue May 13, 2008 12:44 pm

The guest post is correct. When I called Intercept, I had the last date that UFC debited my account and the amount. I also verified my CLOSED bank account number with them. They looked it up and confirmed that they did in fact process for UFC. They also told me that I had a debit for Ameriloan, which I did, but it was now PIF. As for ACHC, I called them and just asked if they processed for Star Advance. They told me know but based on the info I gave them they confirmed that I had debits from PayDayMax and MyCashNow. They can give you the info. I also spoke with a very nice woman by the name of Cindy over at Intercept. She was extremely helpful in resolving my UFC account. It would appear that all the phone calls are creating quite a stir and perhaps it is something they are not used to. In fact, I will post an email, from Gail Sauter, which pretty much confirms that fact as well. Am at work right now.

Guest · Posted: Tue May 13, 2008 12:44 pm

read above. you have the right to revoke authorization 3 days prior to a debit. It's in the Electronic Funds Transfer Act. She knows it. Have her tell the pdl not to debit that you have revoked authorization. I would email this to Intercept and the PDL at the same time.

Dear Christy,

It appears neither you nor your client intend to honor the Electronic Funds Transfer Act. Under Section 907 Subsection A I have the right to revoke authorization 3 days prior to a debit orally or in writing. I am doing so with both yourself and your non-compliant clients.
§ 907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.

Additionally, having done my due diligence, I am also notifying you that if my account is debited I intend to hold both yourself and your client responsible under Section 910 of the EFTA subsection 3. In addition, I will be forwarding your position to NACHA for evaluation as well as pursuing the validity of your client's legal right and/or operating license.
§ 910. Liability of financial institutions

(a) Subject to subsections (b) and (c), a financial institution shall be liable to a consumer for all damages proximately caused by--
(1) the financial institution's failure to make an electronic fund transfer, in accordance with the terms and conditions of an account, in the correct amount or in a timely manner when properly instructed to do so by the consumer, except where--
(A) the consumer's account has insufficient funds;
(B) the funds are subject to legal process or other encumbrance restricting such transfer;
(C) such transfer would exceed an established credit limit;
(D) an electronic terminal has insufficient cash to complete the transaction; or
(E) as otherwise provided in regulations of the Board;
(2) the financial institution's failure to make an electronic fund transfer due to insufficient funds when the financial institution failed to credit, in accordance with the terms and conditions of an account, a deposit of funds to the consumer's account which would have provided sufficient funds to make the transfer, and
(3) the financial institution's failure to stop payment of a preauthorized transfer from a consumer's account when instructed to do so in accordance with the terms and conditions of the account.
Should either yourself or your client be open to following the laws I have listed, I will expect confirmation that my Acct #-------------- RTN ----------------------- will in fact no longer be debited.

Regards,

Posted: Tue May 13, 2008 12:57 pm

Again, I concur. All I did was send a copy of my C and D letter, which was the revocation, to Intercept, and then an email back to the PDL stating that I had spoken with Intercept and all the nonsense stopped. My PIF followed almost immediately. Is it because so many people are now using the processors that they are finding that the situation is just more than an "isolated" case, as it was in the beginning? I think that perhaps I was the first, or at least one of the first, to approach them on the issues at hand. Now we are coming out of the woodwork. Thank you James!

Posted: Tue May 13, 2008 12:58 pm

she is saying that they are not the financial institution...the bank is...that is the "loophole" she is using.

Posted: Tue May 13, 2008 1:26 pm

ok...shot off an email to my bank citing my use of the EFT Act and revoking debits from the PDLs...i listed the company name...the date of their last debit and the amount and how I do not want any further debits from these companies. This will have to do since I am out of town and the nearest branch is 2 hours away. I told them if they can not do it online...if I can do it over the phone. Either way...I hope they can do it. They wouldnt before when I went into the branch...but this time I told them I had been dealing with the ACH processor and copied the email in my message and cited the EFT Act....I will let everyone know.

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