EFT Compulsory Use Check

Live. Requiring autopay or setting up recurring debits? EFTA 1693k / Reg E 1005.10: no loan may be conditioned on autopay.

Send up to 2,000 accounts with the product (installment, payday, auto, card, line of credit, overdraft line, minimum-balance credit, hybrid prepaid-credit card, payment or settlement plan on a debt, mortgage, student loan), whether autopay is required, offered with a discount or enrolled, the authorization method (signed paper, e-sign, recorded oral, oral only, payee signed for the consumer), copy given, varying amounts with notice days or an elected range, revocation, stop-payment requests and employer or benefit bank requirements. Applies 15 U.S.C. 1693k and 12 CFR 1005.10(e) (no credit conditioned on recurring electronic repayment, overdraft and minimum-balance exceptions, no exception for hybrid prepaid-credit cards; no required bank for wages or benefits) and 1005.10(b)-(d) with the official interpretations (signed or E-SIGN authorization, copy to the consumer, stop payment 3 business days before, 10-day notice of varying debits). Returns violation, review or ok per account with citations. Nothing stored.

Price: $0.001 per call after 1,000 free per month.

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