Before You Stop Automated Payments

by Center for Personal Finance editors

If you're ready to cancel automated payments you make through your checking accounts and credit cards, know what's required.

The rules for halting automated payments differ depending on which form of payment you use.

If you choose to cancel payments linked to your credit card, notify the vendor as well as the credit card issuer.

If payments are linked to your share draft/checking account, however, you need to contact only your financial institution--at least three business days before the payment will be made--to stop automated payments.

July 31, 2006