How to Stop Automatic Deductions From a Bank Account
Setting up an automatic deduction from your bank account can be a convenience, but when you try to stop the activity it could cause you some level of regret. If lines get crossed and the company taking the automatic deductions, such as an online savings account or a merchant, doesn't process the request fast enough, that could create problems with your bank account. This could cause your account to go overdrawn and make it difficult to recover the funds in some cases. So if you decide to stop your deductions, take special care to assure that your request gets processed immediately.
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Instructions
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Visit the merchant or company's website where you set up the automatic deductions and log in to access your "billing" or "payment" options. If you established the arrangement over the phone, call the company instead.
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Delete all of your checking-account information from your account-management screen. If this is a part of a subscription plan, choose the option to "unsubscribe" from the service. Print or take a screen shot of the confirmation screen stating that you've unsubscribed from automatic deductions.
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Allow some time for the company to update its system. Call the company a week before the automatic deduction would usually hit your bank account to confirm that they've deleted your account information and will not charge your account. Call the company once more, a day before the deduction date, to once again assure that you are no longer subscribed to the payment plan or service.
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Call your bank to dispute the charge to your account if the service still deducts money from your account despite your request. Provide the bank with a copy of the confirmation screen you saved. The bank will investigate the matter and possibly refund your money temporarily. If it determines that the company deducted money without your permission, the credit is permanent.
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Tips & Warnings
Call your bank to ask to open a new bank account and transfer your funds over if the automatic deductions continue despite numerous requests.
Whenever possible, give your bank-account debit-card number instead of your bank-account number when setting up automatic deductions. This way, if you have a problem with a merchant who continues to deduct money from your account, all you have to do is cancel the card.
