Never forget a bill payment again.
We C.U. so that you have a convenient way of
paying bills or transferring funds for investments that happen on an
ongoing basis like your mortgage, utility payments, insurance premiums
and charitable donations. Pre-authorized debits (PADs) are a smart way
to make sure you stay on top of your finances.
Your Rights & Responsibilities
- Make sure that you receive a copy of the
PAD agreement that you sign, and verify that it includes information
on how to cancel it. If you have authorized the PADs electronically,
the biller is required to send you confirmation of the terms in writing
at least 15 days before the first scheduled debit (unless you and
the biller mutually agree to a shorter period.)
- Advise the biller immediately if you change
your account details (number, financial institution, etc.). If you
do not inform the biller, the PAD may continue to be sent to the original
account and could be returned. This may result in disruption of service
or cancellation of a contract by the biller.
- Keep sufficient funds in your account to
pay PADs when they are due. If the PAD is rejected due to insufficient
funds, the biller may withdraw the funds from your account at any
time during the next 30 days.
- Check your statement or account records
regularly to confirm that withdrawals are made in accordance with
the agreement you signed with the biller.
- If you wish to cancel your agreement, advise
the biller and keep a record of the cancellation. Check your account
records to confirm that the withdrawals stop.
- Inform the biller immediately if any withdrawal
is not consistent with the agreement you signed (e.g. different amount
or date), or if a PAD is processed after the expiry of your agreement.