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Pre-authorized Debit (PAD) Agreement 1. MAYOR INFORMATION Last and first names of depositors (please print) FOR ADMINISTRATION ONLY Contract no. Insured's name Account holder name First name Joint

How to fill out combined pre-authorized debit pad

How to fill out a combined pre-authorized debit pad:

1. Start by gathering all the necessary information and materials. This includes the account holder's name, address, bank account number, and transit number.
2. Write the name of the payee or company you want to authorize under the "Payee Name" section. This is typically the name of the company or organization you want to make the automatic payments to.
3. Specify the frequency of the payments in the "Payment Frequency" section. This could be monthly, bi-monthly, quarterly, etc.
4. Indicate the amount of money to be debited from your bank account in the "Amount of Payment" section. Ensure that the amount is clearly stated, including any decimal places.
5. Provide the effective date for the pre-authorized debit in the "Effective Date" section. This is the date when the first payment will be deducted from your account.
6. Fill out your banking information accurately. Write your bank account number, transit number, and institution number in the designated sections. It is crucial to double-check these details to avoid any errors that may disrupt or prevent the automatic payments.
7. Sign and date the combined pre-authorized debit pad in the appropriate sections. Make sure that your signature matches the one on file with your bank.

Who needs a combined pre-authorized debit pad?

1. Individuals who wish to automate recurring payments can benefit from a combined pre-authorized debit pad. This is particularly useful for bills or expenses that remain consistent, such as monthly rent, gym membership fees, or utility bills.
2. Businesses or organizations that regularly receive payments from customers or clients can also require a combined pre-authorized debit pad. This allows them to collect payments in a convenient and efficient manner.
3. Both individuals and businesses who want to streamline their payment processes and reduce the hassle of manual payments can benefit from a combined pre-authorized debit pad. It ensures timely and accurate payments without the need for constant monitoring or manual transactions.

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What is combined pre-authorized debit pad?

Combined pre-authorized debit pad is a form used to set up automatic withdrawals from a bank account for multiple purposes.

Who is required to file combined pre-authorized debit pad?

Any individual or organization looking to withdraw funds from a bank account using pre-authorized debits must file a combined pre-authorized debit pad.

How to fill out combined pre-authorized debit pad?

The form must include the name of the account holder, bank account information, amount to be debited, frequency of withdrawals, and purpose of the withdrawals.

What is the purpose of combined pre-authorized debit pad?

The purpose is to provide a convenient and automated way to make regular payments or donations from a bank account.

What information must be reported on combined pre-authorized debit pad?

The form must include the account holder's name, bank account details, amount and frequency of debits, and the purpose of the withdrawals.