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ACH & Reg E

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Please clarify the following. A reoccurring ACH that is subject to Reg E can be stop paid, but it only applies to the one specific ACH. All future ACHs from the company should be paid. The stop payment does not expire in six months; it never expires. If the customer informs the bank that he has revoked authorization with the originator for a reoccuring ACH and wans all future ACHs (reoccurring authorized debits) stopped, the customer needs to complete a Revocation Form as opposed to a stop pay form and the bank must stop all future debits, if presented. A Revocation Form is different than a WSUPP form as, the WSUPP form is for a debit that has hit the account that must be returned as unauthorized/revoked entry (R07)and, language within the WSUPP form then also stops all future debits like the Revocation Form. I do not have an ACH Specialist at my bank so, any help is appreciated.

This issue was covered here.

First published on 9/29/08

First published on 09/29/2008

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