Electronic Funds Transfer Authorization

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Initial Account Funding Transfer 

I acknowledge that the deposit account opening application process allows me to electronically transfer funds via the automated clearing house (“ACH”) between my LendingClub Bank (“LendingClub”) account and my external account at another financial institution (“External Account”) as a one-time transfer for the purpose of providing a funding deposit to my LendingClub account.  During the online application process, I will provide the routing/transit number, account number and type of account, or will otherwise supply that information via a method approved by LendingClub, such as validating my online banking credentials which access my External Account.  I hereby authorize LendingClub to initiate a withdrawal from the External Account indicated in the account opening flow.   

I hereby represent and warrant that I have all necessary right, power, and authority to debit and credit the External Account identified in the transfer order being executed, and that all information entered in the transfer order is complete and accurate. I agree that the ACH transactions I authorized comply with all applicable law.  

Should there be any errors in connection with an ACH transaction that debits or credits my External Account or my LendingClub accounts(s), such as an incorrect amount or duplicate transactions, I authorize LendingClub to debit or credit my Funding Account or my LendingClub account(s) as needed to correct any such errors. 

Single or Recurring Transfer or Bill Payment 

I acknowledge that the Transfer Funds feature in Online and Mobile Banking allows me to electronically transfer funds via ACH between my eligible LendingClub accounts and my External Account(s), once I have successfully registered my External Accounts(s). I acknowledge that the Bill Pay feature in Online and Mobile Banking allows me to set up recurring bill payments from my eligible LendingClub accounts to a third-party payee, once I have successfully set up the payee. 

I hereby represent and warrant that I have all necessary right, power, and authority to debit and credit the External Account identified in the transfer order being executed, and that all information entered in the transfer order is complete and accurate. I agree that the ACH transactions I authorized comply with all applicable law.  

Should there be any errors in connection with an ACH transaction that debits or credits my External Account or my LendingClub accounts(s), such as an incorrect amount or duplicate transactions, I authorize LendingClub to debit or credit my External Account or my LendingClub account(s) as needed to correct any such errors. 

I authorize LendingClub Bank to withdraw the selected amount at the interval requested in my recurring Bill Pay or recurring External Transfer setup.  Note that External Transfers and Bill Payments only take place on Business Days.  If your transfer date falls on a weekend or holiday, your money movement will happen on the next Business Day. This authorization is to remain in full force and effect until LendingClub Bank has received written notification from me of its termination in such time and in such manner as to afford LendingClub a reasonable opportunity to act on it. I will send my notice to: LendingClub Bank, Customer Service, P.O. Box 55063, Boston, MA 02205-5063. Please see your Online & Mobile Banking Agreement for additional details.  

I acknowledge that the origination of ACH transactions must comply with the provisions of applicable law and the rules of NACHA. I request the financial institution that holds my External Account to honor all transfers in accordance with this authorization form.  

Authorization for Micro Credits and Debits when Adding a new External Account 

I acknowledge that the LendingClub deposit account opening flow and LendingClub Online Banking both allow me to link an account owned by me at another financial institution for the purposes of transferring funds via ACH. 

To complete this process, I hereby authorize two microdeposits and a debit in the same amount to the account I have supplied for this process.  

I hereby represent and warrant that I have all necessary right, power, and authority to debit and credit the External Account for these transactions, and that all information entered in the process is complete and accurate. I agree that the ACH transactions I authorized comply with all applicable law.  

This authorization is to remain in full force and effect until LendingClub Bank has received written notification from me of its termination in such time and in such manner as to afford LendingClub Bank. a reasonable opportunity to act on it. I will send my notice to: LendingClub Bank, Customer Service, P.O. Box 55063, Boston, MA 02205-5063.  

I acknowledge that the origination of ACH transactions must comply with the provisions of applicable law and the rules of NACHA. I request the financial institution that holds my External Account to honor all transfers in accordance with this authorization form.

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