Ach Agreement

ACH Authorization
An ACH authorization (the “ACH Authorization”) is a convenient, paperless electronic transfer

of funds to and from my demand deposit account. This ACH Authorization is part of the Federal
Truth-In-Lending Disclosures and Promissory Note dated 11/14/2024 (the “Note”). Except as
provided below, all terms and conditions of the Note remain in full force and effect, and all
capitalized terms appearing below that are not defined in this Authorization shall have the
meanings provided in the Note.
By signing below, I voluntarily authorize Capital Community Bank, its successors, servicers,
sub-servicers or assigns (collectively, the “Lender”) to initiate debit entries to my demand
deposit account at Navy Federal, routing/transit number 256074974, and Account Number
7122421881 (“My Bank Account”) in the amount of the scheduled payments and on the
scheduled payment dates identified in the Note. This authorization is for recurring entries (that
recur at substantially regular intervals without my affirmative action to initiate future entries).
I understand that I have the right to receive notice of all electronic fund transfers from My Bank
Account that vary in amount or are unusual, and that by signing this ACH Authorization, I agree
to receive a specified range of amounts for the recurring electronic debiting (in lieu of you
providing me a notice of transfers in varying amount for any transfer that may differ from the
previous transfer). The amount of any ACH debit will range from (i) the payment amount
provided in the Note (which may be less than a scheduled payment if partial prepayments have
been made, to (ii) an amount equal to the scheduled payment plus as applicable, any other
amounts I may owe under the Note up to an additional $50. I agree to receive notice only when
the debit entry falls outside this specified range.
If there is any missing or erroneous information in or with the Note or my loan application
regarding my bank, bank routing/transit number, or account number, then I authorize Lender to
verify and correct such information.
If any ACH debit entry is dishonored, I authorize the Lender to re-initiate an ACH debit entry up
to two times. I acknowledge that if my payment is returned unpaid, I have authorized Lender to
collect any fees provided for in the Note and to initiate a debit entry for such amounts.
I understand that by electing to make payments via ACH if any debit is dishonored and I am in
default under the Note, the Lender may accelerate my balance owing in accordance with the
Note and initiate an ACH debit entry in the full amount then owing, including for all interest and
fees outstanding. I have agreed to pay a check collection charge of $20 for any check or other
payment instrument returned or dishonored for any reason, and I authorize the Lender to initiate
a one-time ACH debit to my bank account for any such check collection charge.
I acknowledge that the account on which my ACH Authorization is drawn is a legitimate, open
and active demand deposit account. I understand and acknowledge that I may terminate this
authorization by notifying Lender at least three business days before the scheduled date of the
transfer. I may do so in writing to Lender in care of its servicer at Balance Credit, PO Box 4356,
2.1-7-1-1.0
Dept #1557, Houston, TX 77210-4356, by email at support@balancecredit.com or electronically
by accessing my account at balancecredit.com.
My ACH Authorization will remain in full force and effect until the first to occur of the
following events: (i) I satisfy all of my payment obligations under the Note; or (ii) I provide
Lender notice of termination of this authorization at least three business days before the
scheduled date of the transfer. I acknowledge that the origination of the ACH entry to My Bank
Account must comply with applicable provisions of U.S. law.
Should I terminate my ACH Authorization, I will still be responsible for making timely
payments. I acknowledge that Lender did not condition Lender’s extension of credit to me on
my authorizing Lender to electronically debit My Bank Account. I UNDERSTAND THAT I
AM NOT REQUIRED TO AGREE TO THIS ACH AUTHORIZATION IN ORDER TO
OBTAIN CREDIT FROM THE LENDER. If I terminate my ACH Authorization, such
termination will not constitute an event of default under the Note and will not adversely affect
Lender’s decision to extend credit to me in the future. This ACH authorization is a payment
mechanism only and does not give Lender collection rights greater than those otherwise
contained in the Note.
I understand that if Lender assigns my Note to any third party, this ACH Authorization will also
be assigned to the party holding the Note and such holder will be entitled to initiate ACH entries
in accordance with this ACH Authorization.
By signing below I acknowledge that I have read and accept the terms of the “ACH
Authorization” and I agree and understand that I am authorizing Lender to credit and debit my
Bank Account.
Electronically signed by Nelson Harris from IP Address: 68.91.210.85
2.1-7-1-1.0

Ach Agreement

Uploaded by

Copyright:

Available Formats

Ach Agreement

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Ach Agreement

Uploaded by

Copyright:

Available Formats

ACH Authorization

An ACH authorization (the “ACH Authorization”) is a convenient, paperless electronic transfer

Electronically signed by Nelson Harris from IP Address: 68.91.210.85

You might also like