I hereby authorize East West Bank (the Bank) to withdraw (“draft”) the monthly loan payment due for my above referenced Loan Account. I understand the drafting will occur each month on the Payment Due Date as scheduled unless an Alternate Withdrawal Day is indicated above until the loan is fully paid. It will be my responsibility to ensure I have sufficient funds available on the business day prior to my loan payment due date as drafting may occur at any time during the Draft Date including prior to the time your financial institution opens for business.
I will not hold the Bank liable if any fee incurred which may result due to the financial institution rejecting the transfer under this authorization. I also understand that if there are insufficient funds in the designated account and payment is rejected as a result, my bank may assess and draft the applicable non-sufficient fund (NSF) fee, in addition to any late charges that may be due to East West Bank.
I understand that I can stop payment of this preauthorized electronic fund transfer by: canceling directly online via this portal; notifying the Bank by calling 1.877.392.6868; or by mailing the Bank’s Loan Servicing – Mortgage Department at the address noted below if my request is received at least 3 business days prior to the scheduled transfer date.
East West Bank, ATTN: Loan Servicing - Mortgage Department, P.O. Box 60020, City of Industry, CA 91716-0020