[Bank Statement Woes] While examining her bank statements in July,Ariel found several questionable items and telephoned her bank to sort out the problems.First,Ariel was charged $50 in a recurring direct withdrawal for her yoga class.However,Ariel had notified the bank at 4:30 p.m.the previous day that she wanted to cancel the automatic payment.Second,Ariel noticed two EFT payments in February to a veterinarian in another state,which Ariel is certain she did not authorize,since she does not have a pet.Third,Ariel noticed several EFT payments for a magazine subscription,which Ariel did not authorize and she never received any magazines.Also,Ariel wants to stop payment on an internet order she made two hours ago for an expensive watch.
-Is Ariel correct that the recurring charge for the yoga class should be removed because she had notified the bank to cancel the automatic payment?

Question

Quizplus · Accepted Answer

A)Under the Electronic Fund Transfers Act of 1987 EFTA),the bank must notify the customer that preauthorized payments may be stopped;however,the customer must stop the payment by notifying the bank at any time up to three days before the preauthorized payment is scheduled.
B)Under the Electronic Fund Transfers Act of 1987 EFTA),the bank must notify the customer that preauthorized payments may be stopped;however,the customer must stop the payment by notifying the bank at any time up to three days before the preauthorized payment is scheduled.
C)Under the Electronic Fund Transfers Act of 1987 EFTA),the bank must notify the customer that preauthorized payments may be stopped;however,the customer must stop the payment by notifying the bank at any time up to three days before the preauthorized payment is scheduled.
D)Under the Electronic Fund Transfers Act of 1987 EFTA),the bank must notify the customer that preauthorized payments may be stopped;however,the customer must stop the payment by notifying the bank at any time up to three days before the preauthorized payment is scheduled.
E)Under the Electronic Fund Transfers Act of 1987 EFTA),the bank must notify the customer that preauthorized payments may be stopped;however,the customer must stop the payment by notifying the bank at any time up to three days before the preauthorized payment is scheduled.
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Topic: Electronic Fund Transfers

[Bank Statement Woes] While Examining Her Bank Statements in July,Ariel