(1) Any financial company or electronic financial business entity shall obtain consent from the payer in advance to the withdrawal of deposits to effect a collection transfer, as prescribed by Presidential Decree. <Amended on May 22, 2013>
(2) Any payer may request a financial company or an electronic financial business entity to revoke his or her consent to withdrawal under paragraph (1) before the withdrawal of deposits is completely recorded on the ledger of the payer's account pursuant to a transaction request of the payee. <Amended on May 22, 2013>
(3) Notwithstanding paragraph (2), a financial company or an electronic financial business entity may, pursuant to a prior agreement made with the payer, determine differently the timing for revoking the consent with respect to any batch transaction, reserved transaction, etc. <Amended on May 22, 2013>
(4) Any financial company or electronic financial business entity shall include in its terms and conditions the matters relating to the methods and procedures for revoking the consent and the prior agreement under paragraphs (2) and (3). <Amended on May 22, 2013>