 Posted: Sat May 17, 2008 5:35 pm
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I'm moving this to the pdl forum, it will get more attention that way! Here is a sample letter, you might also want to include the information regarding Preauthorized transfers.
| Quote: |
Date:
Your Name
Your Address, State
Account #
To Who It May Concern:
"I hereby revoke any and all authorization I gave Company __________ to debit in any way any account I may have."
Signed |
| Quote: | Electronic Funds Transfer Act
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] |
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Shazzers
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