Get the free Pre-authorized Debit Agreement - SCBC

Scarborough Chinese Baptist Church PreAuthorized Debit (PAD) Agreement I want to support the church through donations as follows: General Fund $ Missions Fund $ Capital Fund $ Charity Fund $ TOTAL

How to fill out pre-authorized debit agreement

How to fill out pre-authorized debit agreement

1. Obtain a pre-authorized debit agreement form from your bank or financial institution.
2. Read the agreement carefully and make sure you understand all the terms and conditions.
3. Fill out the required personal information, such as your name, address, and contact details.
4. Provide your banking information, including your account number and transit number.
5. Indicate the amount and frequency of the debits you authorize.
6. Specify the start date and end date (if applicable) for the pre-authorized debits.
7. Review the agreement once again to ensure all the information is correct and accurate.
8. Sign the agreement with your full legal name.
9. Submit the completed agreement to your bank or financial institution.
10. Keep a copy of the agreement for your records.

Who needs pre-authorized debit agreement?

1. Individuals who regularly make recurring payments, such as monthly bills or loan repayments, can benefit from a pre-authorized debit agreement.
2. Businesses or organizations that collect payments from customers or clients on a regular basis can also utilize pre-authorized debit agreements.
3. People who prefer the convenience of automated bill payments and want to avoid the hassle of manual payments or late fees may find pre-authorized debit agreements useful.
4. Any party seeking a secure and reliable way to ensure timely payment without relying on manual processes can benefit from a pre-authorized debit agreement.

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What is pre-authorized debit agreement?

A pre-authorized debit agreement allows a company to automatically withdraw funds from a customer's account.

Who is required to file pre-authorized debit agreement?

Companies or organizations that wish to set up automatic payments from a customer's account are required to file a pre-authorized debit agreement.

How to fill out pre-authorized debit agreement?

To fill out a pre-authorized debit agreement, companies must provide the necessary information such as the customer's bank account details, amount to be withdrawn, and frequency of payments.

What is the purpose of pre-authorized debit agreement?

The purpose of a pre-authorized debit agreement is to simplify the payment process for both the company and the customer by allowing for automatic withdrawals.

What information must be reported on pre-authorized debit agreement?

Information such as the customer's bank account details, amount to be withdrawn, frequency of payments, and authorization for the automatic withdrawals must be reported on a pre-authorized debit agreement.