Title 31

SECTION 370.20

370.20 What requirements apply if I want to authorize a debit entry to my deposit account

§ 370.20 What requirements apply if I want to authorize a debit entry to my deposit account?

(a) General. You may pay for a security and related fees by authorizing us to initiate one or more debit entries to your deposit account. For a purchase of a book-entry security to be held in an investor account maintained by us, you must be named on the investor account. The authorization must be accomplished only through forms or means approved by us.

(b) Single-entry and recurring debit entries. You only may authorize single-entry debits for purchases of book-entry securities held in TreasuryDirect. You only may authorize recurring debit entries for purchases of definitive savings bonds.

(c) Credit entries to be made to same deposit account. To the extent that payments by us with respect to a security are to be made through credit entries, you must receive debit and credit entries in the same deposit account.

(d) Signature. The authorization must have your signature and that of any other person whose signature is required to withdraw funds from the deposit account. We need not verify your identity or the authenticity of your signature.

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