You may also be asked to provide a voided check from your bank account. Many companies will give you an authorization form to sign and return. Keep a copy of the written authorization for your records . Your bank then withdraws that amount and forwards it electronically to the company's bank for credit to their account. Discuss your account's limitations with your bank.
Most banks offer checking accounts that have no limits on the number of withdrawals each month.
The statement will indicate the payment date and amount, and the company that received the payment. Simply notify your bank, orally or in writing, up to three business days before the scheduled payment date. If you call your bank, you may also be required to provide a written request within 14 days. Some banks may charge a fee for each stop-payment. As a courtesy, you also may want to inform the company that you are stopping the payment.