| Title: | DCU |
| Notice: | 1996 BoD Election results in 1004 |
| Moderator: | CPEEDY::BRADLEY |
| Created: | Sat Feb 07 1987 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1041 |
| Total number of notes: | 18759 |
Another aspect of closing your checking account: what to do if you
have an automatic withdrawal from your checking. I bought an insurance
policy from John Hancock about 6 years ago and authorized the monthly
withdrawals from my checking account. Sort of an "electronic check".
I found that I cannot have this switched over to my PRIMARY SHARE.
Instead, I have to contact John Hancock and ask them if they will
switch to "Automatic Clearinghouse". If they will, then I give them
the routing number that the Credit Union gave me and the deduction will
come from savings.
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 269.1 | COOKIE::WITHERS | Bob Withers - In search of a quiet moment | Thu Aug 22 1991 13:06 | 25 | |
Its really simple - write a letter to the DCU stating that you rescind
permission for the automatic withdrawal of funds on behalf of John
Hancock, effective immediately (date the letter, too). Then bring it
to the DCU branch. They will have a card (probably) for you to sign
and the AWD is terminated.
You are allowed to do this anytime of your chosing under one of the
fair credit acts.
Next, call John Hancock and tell your agent that that's what you've
done. They will send you a form to pick it up again at another
institution of your chosing.
If you get this done before your next JH billing cycle, its
transparent. If not, one of two things will happen:
- JH will bill you directly and remind you that you need to
re-authorize AWD
- JH will try to debit your account and be refused. In that case,
JH will bill you directly and remind you that you
need to re-authorize AWD
My insurance company (Met) takes a few months to get everything going
again, but there's no pain to stopping AWD.
BobW
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| 269.2 | Stop payment costs $5.00 | AIMHI::TINIUS | My wake-up call was a snooze alarm. | Thu Aug 22 1991 16:20 | 10 |
> Its really simple - write a letter to the DCU stating that you rescind
> permission for the automatic withdrawal of funds on behalf of John
> Hancock, effective immediately (date the letter, too). Then bring it
> to the DCU branch. They will have a card (probably) for you to sign
> and the AWD is terminated.
You will be asked to sign a "Request for Stop Payment" - and it will cost you
$5.00.
-stephen
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| 269.3 | US Postal System wins! | XLIB::SCHAFER | Mark Schafer, ISV Tech. Support | Thu Aug 22 1991 16:46 | 3 |
Alas, John Hancock doesn't know about such a thing, and will only take
the former method of electronic payment which must come from a checking
account. I opted to have them send me a bill every 3 months.
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