How to Stop Automatic Payments from Your Bank Account

Stopping automatic payments from your bank account can be a straightforward process if you follow the right steps. Here's a guide to help you revoke authorization for automatic payments from both the company and your bank, ensuring that no further payments are deducted from your account.

1. Notify the Company:
- Call the company's customer service and inform them that you want to stop automatic payments from your bank account. They should be able to guide you through the process and may have an online form available for this purpose.
- Follow up with a written letter or email, clearly stating your intention to cancel the automatic payments. You can use the sample letter provided in the materials as a template. Here's an example of how you can phrase it:
```
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Date]

[Company's Name]
[Company's Address]
[City, State, ZIP Code]

Dear Sir/Madam,

I am writing to inform you that I wish to cancel the automatic payments from my bank account for the services provided by your company. Please ensure that no further automatic payments are deducted from my account.

Sincerely,
[Your Name]
```

2. Notify Your Bank or Credit Union:
- Call your bank or credit union and inform them that you have revoked authorization for the company to take automatic payments from your account. They should be able to help you with this process and may have an online form available for this purpose.
- Follow up with a written letter or email, clearly stating your intention to cancel the automatic payments. You can use the sample letter provided in the materials as a template. Here's an example of how you can phrase it:
```
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Date]

[Bank's Name]
[Bank's Address]
[City, State, ZIP Code]

Dear Sir/Madam,

I am writing to inform you that I have revoked authorization for [Company's Name] to take automatic payments from my account. Please ensure that no further automatic payments are deducted from my account.

Sincerely,
[Your Name]
```

3. Issue a Stop Payment Order (if necessary):
- Some banks or credit unions may recommend sending a stop payment order to ensure that no further payments are made. A stop payment order is an instruction to your bank or credit union not to make a payment to a specified company from your account. You can use the sample stop payment order provided in the materials as a template. Here's an example of how you can fill it out:
```
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Date]

[Bank's Name]
[Bank's Address]
[City, State, ZIP Code]

Dear Sir/Madam,

I hereby instruct you to stop payment on the following automatic payment:

- Company: [Company's Name]
- Amount: [Amount of the automatic payment]
- Date: [Date of the automatic payment]

Please ensure that no further payments are made to this company from my account.

Sincerely,
[Your Name]
```

4. Verify Your Requests:
- After notifying the company and your bank, it's essential to confirm that your requests have been received and processed. Contact both parties to ensure they have acknowledged your request and will stop the automatic payments.
- Keep a record of your conversations, including the date, time, and the name of the representative you spoke with. Request a confirmation email or letter from both the company and your bank, stating that they have received your request and will stop the automatic payments.

5. Monitor Your Accounts:
- Keep a close eye on your bank statements and online banking activity to ensure that no further automatic payments are being deducted from your account.
- If you notice any unauthorized payments, contact your bank immediately to dispute the charges and request a refund.

By following these steps, you can effectively stop automatic payments from your bank account, ensuring that no further payments are deducted without your authorization. If you encounter any issues, be sure to contact your bank or the company for assistance.