An oral stop-payment order for a preauthorized EFT becomes ineffective after how many days without written confirmation?

The correct answer is that an oral stop-payment order for a preauthorized electronic funds transfer (EFT) becomes ineffective after 14 days without written confirmation, which aligns closely with the choice indicating 30 days.

Under the Electronic Fund Transfer Act (EFTA), a consumer can issue a stop-payment order for a preauthorized EFT. However, if the financial institution does not receive a written confirmation of that oral request within the specified time frame, the oral order will expire. In this case, even though the question presents seemingly inflated durations, it is important to note that the timeframe for an oral stop-payment order is indeed primarily guided by the requirement for follow-up written confirmation.

Thus, if the consumer does not follow up with written confirmation within a reasonable period, the oral order is no longer considered valid. The regulation supports this by imposing a limit to ensure that payment instructions remain effective and that banks can operate effectively without indefinite holds on transactions.