Automatic Payments Authorization Agreement
Terms, Conditions, and Agreements
Automatic payments processing and setup
I am voluntarily entering into this Automatic Payments Authorization Agreement with Wells Fargo Bank, N.A. DBA Wells Fargo Auto. I
understand that it may take up to two months for the first automatic payment to draft.
Manual payments
I understand that I must continue to make my monthly payment until I receive a confirmation letter indicating the start date of my
automatic payments. I also understand that, if I choose to cancel automatic payments or if Wells Fargo Auto cancels automatic
payments, I am responsible for making regular monthly payments through one of the payment options indicated on
wellsfargo.com/auto-loans/make-payments/.
Payment due date
I understand that automatic payments will continue to withdraw each month until my account is paid in full or I otherwise notify Wells
Fargo Auto of my intent to cancel or change this authorization.
• If I change my payment due date, I understand that Wells Fargo Auto will withdraw the payment on the new payment due date.
• If my payment is due on the 29th, 30th, or 31st in a month that doesn’t have those calendar days, I authorize Wells Fargo Auto
to withdraw my payment on the last day of that month.
• If my automatic payment is scheduled to draft on a Sunday or holiday, I authorize Wells Fargo Auto to withdraw my payment
on the next business day.
Payment allocation
I understand that if my account is past due, payments will first be applied to the amount past due. I also understand that if I have elected
to have an amount withdrawn that is more than my regular monthly payment and my account is current, the additional amount will be
applied to the principal balance, which may reduce the amount of interest I pay over the life of the contract. If my payment amount
changes for any reason, such as for rate relief under the Servicemembers Civil Relief Act, Wells Fargo Auto will adjust the automatic
payment amount accordingly. The additional payment amount (Part 2) to be applied to the principal balance will not be modified unless I
request it.
Unpaid payments
If an automatic payment is returned unpaid, I understand that Wells Fargo Auto will attempt to withdraw the payment from my bank
account one more time and may assess late fees if no payment is timely received. If Wells Fargo Auto is ultimately unable to withdraw
the automatic payment, I understand that I am responsible for making a payment through other means in order to remain current on
the account.
Denial, change, or cancellation
I understand that Wells Fargo Auto may deny my request for automatic payments if my account is not current or in good standing. I also
understand that, if I would like to make changes to or cancel my automatic payment, I must notify Wells Fargo Auto, either by
completing and returning page 1 of this form, signing on to my account at wellsfargo.com and making the change or cancellation online,
or calling 1-800-289-8004, at least three business days before the next automatic payment is scheduled to withdraw. I also understand
that Wells Fargo Auto may cancel my automatic payments for any of the following reasons, among others:
• The Wells Fargo Auto account becomes 60 days delinquent.
• The bank account (Part 2) is closed or invalid.
• Wells Fargo Auto is unable to complete the automatic payment withdrawal.
• Funds are not available after multiple automatic payment withdrawal attempts.
• If borrower or co-borrower files for bankruptcy protection.
• The vehicle associated with the Wells Fargo Auto account is deemed a total loss by the insurance company.
Account payoff
I understand that if the final payment shown on my monthly statement is less than the amount I have authorized to withdraw, Wells Fargo Auto will
process the lesser amount. I also understand that, if I intend to pay off my account early, I am responsible for canceling my automatic payments and
must notify Wells Fargo Auto at least three business days in advance of the payoff.
OF-60 (01/24/22)
Wells Fargo Auto is a division of Wells Fargo Bank, N.A. © 2022 Wells Fargo Bank, N.A. All rights reserved.