Authorization for Electronic Payments
By providing your bank account information and accepting this ACH Authorization, you authorize Yrefy, LLC (“Yrefy,” “we,” “us,” or “our”), in connection with your Ignyte loan, to initiate electronic funds transfers through the Automated Clearing House (“ACH”) Network from the bank account you provided to us.
The amount, timing, frequency, and purpose of authorized payments are governed by your executed Ignyte Loan Agreement and the payment terms applicable to your loan. The bank account used for these payments will be the account you have provided and authorized for payment purposes in connection with your Ignyte loan.
Your Authorization
By accepting this ACH Authorization, you:
authorize Yrefy and its payment service providers to electronically debit the bank account you have designated for payments due under your Ignyte Loan Agreement;
authorize such debits to be made in the amounts and on the dates provided for by your Ignyte Loan Agreement, payment schedule, or other payment instructions you provide to Yrefy;
represent that you are an owner of, or are otherwise authorized to use, the bank account you have designated;
acknowledge that ACH transactions are subject to applicable law and the rules governing the ACH Network; and
acknowledge that this authorization will remain in effect until it is revoked as described below or until no further payments are due under your Ignyte Loan Agreement.
Your authorization to make payments electronically does not change the amount you owe or otherwise modify your obligations under your Ignyte Loan Agreement.
Revoking Your ACH Authorization
You may revoke this ACH Authorization by contacting Yrefy using the contact information below. Your revocation will apply to ACH transactions initiated after Yrefy has had a reasonable opportunity to receive and act upon your request.
Revoking your ACH Authorization does not cancel your loan, forgive any amount you owe, or otherwise modify your obligations under your Ignyte Loan Agreement. If you revoke this authorization, you will need to make payments using another payment method accepted by Yrefy.
You may also have the right to stop payment on a preauthorized electronic fund transfer by contacting the financial institution that holds your account. Under Regulation E, a consumer may stop payment on a preauthorized EFT by notifying the account-holding financial institution at least three business days before the scheduled transfer. [consumerfinance.gov], [ecfr.gov]
Changes to Your Bank Account
If you change the bank account you use to make payments, you must provide Yrefy with updated account information and any authorization required for Yrefy to initiate ACH transactions from the new account.
Returned or Unsuccessful Payments
If an authorized ACH payment is returned or cannot be completed, you remain responsible for making the payment required under your Ignyte Loan Agreement using an available payment method.
Any fees or other consequences associated with an unsuccessful payment will be governed by your Ignyte Loan Agreement and applicable law.
Electronic Record of Your Authorization
Your electronic acceptance of this ACH Authorization constitutes your authorization for Yrefy to initiate the ACH transactions described above.
Please retain a copy of this authorization for your records.
Contact Information
Questions about this ACH Authorization, including requests to revoke your authorization, may be directed to:
Yrefy, LLC
Attention: Customer Service
6910 E. Chauncey Lane, Suite 105
Phoenix, Arizona 85054
Phone: (855) 256-1525
Email: customerservice@yrefy.com