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AUTOMATIC DRAFT AUTHORIZATION FORM I (we) hereby authorize Athens Area Health Plan Select, Inc. to electronically deduct monthly premium installments for payment of our group health insurance premium

How to fill out automatic draft authorization form

1. To fill out an automatic draft authorization form, start by obtaining the form itself. This can typically be done by contacting your bank or financial institution, or by visiting their website and downloading the form.
2. Once you have the form, carefully read through the instructions and any accompanying information provided. It's important to understand the purpose and terms of the automatic draft authorization before proceeding.
3. Begin by filling out your personal information. This may include your full name, address, social security number, and contact information. It's important to provide accurate and up-to-date information to ensure the form is processed correctly.
4. Next, provide information about your bank or financial institution. This may include the name of the institution, its address, and your account number. Double-check your account number to make sure it is accurate to prevent any issues down the line.
5. Depending on the form, you may need to indicate the specific type of automatic draft authorization you are requesting. This could be for a one-time payment, recurring payments, or a specific dollar amount. Be sure to indicate your preferences accurately and clearly.
6. Some automatic draft authorization forms may require additional information, such as a voided check or bank statement. If this is the case, make sure to include any requested documents along with your completed form.
7. Once you have completed all the necessary sections of the form, review it carefully for any errors or missing information. It's crucial to ensure that all the required fields are filled out accurately to avoid any delays or issues with your automatic draft authorization.
8. Finally, sign and date the form as required. This may include your electronic signature if you are filling out the form online. By signing the form, you are authorizing the bank or financial institution to withdraw funds from your account as specified.

Who needs automatic draft authorization form?

1. Individuals or businesses who wish to have payments automatically deducted from their bank accounts may need an automatic draft authorization form. This could include situations such as paying monthly bills, making loan or mortgage payments, or initiating regular contributions to an investment or savings account.
2. Many organizations, such as utility companies, insurance providers, and subscription-based services, may require customers to fill out an automatic draft authorization form to streamline payment collection and ensure timely payments.
3. Additionally, individuals or businesses that engage in regular transactions with vendors or clients may choose to set up automatic draft authorization for convenience and efficiency. This can help automate payments and reduce the need for manual invoicing and payment processing.

In conclusion, filling out an automatic draft authorization form involves providing personal and banking information, specifying the type of authorization requested, and carefully reviewing and signing the form. This form is often required by individuals and businesses who wish to have payments automatically deducted from their bank accounts.

For pdfFiller’s FAQs

What is automatic draft authorization form?

Automatic draft authorization form is a document that allows a company or individual to automatically withdraw funds from another party's account.

Who is required to file automatic draft authorization form?

Any company or individual who wishes to set up automatic payments from another party's account must file the automatic draft authorization form.

How to fill out automatic draft authorization form?

To fill out the form, one must provide their personal or company information, bank account details, the amount to be withdrawn, and the frequency of withdrawals.

What is the purpose of automatic draft authorization form?

The purpose of the form is to obtain permission to automatically withdraw funds from another party's account for payment purposes.

What information must be reported on automatic draft authorization form?

The form typically requires personal or company information, bank account details, the amount and frequency of withdrawals, and any additional terms and conditions.

How do I complete automatic draft authorization form online?

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