Section 205.10 deals with both preauthorized credits and preauthorized debits. Four different methods of bank notification are allowed concerning preauthorized credits (such as direct deposit of payroll). The notification to consumers should tell them that a preauthorized transfer has or has not occurred. The notification may come from the employer or other source of the funds, with the information that such a transfer of funds has been initiated. If this is not feasible, the financial institution must give written or oral positive notice that the transfer has occurred within 2 business days of the transfer, must give written or oral negative notice that the transfer did not occur as scheduled within 2 business days of the scheduled date, or must have a readily available telephone line which the consumer may call to ascertain if the transfer has occurred. The money transferred to a consumer's account must be credited to that account as of the day the money is received. For preauthorized transfers from an account (debits), written authorization from the consumer must be obtained and a copy of that authorization must be provided to the consumer by the party receiving the authorization. Consumers may stop payment, orally or in writing, up to 3 business days before the authorized payment is supposed to occur. Finally, the financial institution must give consumers advance notice of varying amounts of preauthorized payments for debits. Exceptions to these requirements are noted.