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How-to · Consumer help

Stop a payday lender’s automatic bank withdrawals

You can revoke a payday lender’s permission to take automatic payments from your account.

Steps

3 steps
  1. Revoke authorization with the lender and bankCall and write the lender to withdraw permission, then call and write your bank or credit union to say you revoked authorization.
  2. Use a stop-payment order if neededGive your bank the order at least three business days before the scheduled payment. If it requests written confirmation, provide it within 14 days. Banks commonly charge a fee.
  3. Monitor your account and address the remaining debtReport unauthorized payments to the bank promptly. Stopping automatic payments does not cancel the loan or the balance owed.

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