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PREAUTHORIZED DEBIT (PAD) AGREEMENT CHANGE OF INFORMATION Participants in the Property Tax Prepayment Plan will be automatically renewed each year 1. Customer Information (Please print clearly) Name:Folio

How to fill out pre-authorized debit pad agreement

How to fill out pre-authorized debit pad agreement

1. Obtain a pre-authorized debit pad agreement form from the financial institution or organization that will be receiving the pre-authorized debits.
2. Read the form carefully to understand the terms and conditions of the agreement.
3. Fill in your personal information accurately, including your name, address, and contact details.
4. Provide your bank account information, including the bank name, branch number, and account number.
5. Specify the amount and frequency of the debits that you authorize, such as weekly, monthly, or quarterly.
6. Indicate the start date of the pre-authorized debits and, if applicable, the end date or duration of the agreement.
7. Read and acknowledge any additional clauses or authorizations required by the financial institution or organization.
8. Sign the agreement and date it to indicate your consent to the pre-authorized debits.
9. Keep a copy of the filled-out agreement for your records.
10. Submit the completed agreement to the financial institution or organization through the designated channel, such as in-person, by mail, or online.

Who needs pre-authorized debit pad agreement?

1. Anyone who wishes to make regular payments or contributions to a financial institution or organization can benefit from a pre-authorized debit pad agreement. It is especially useful for individuals who want to automate bill payments, loan repayments, subscription fees, charitable donations, or any other recurring financial transactions. Additionally, organizations or businesses that collect recurring payments from customers or clients can also utilize pre-authorized debit pad agreements.

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What is pre-authorized debit pad agreement?

A pre-authorized debit pad agreement is a contract between a payer and a payee that authorizes the payee to withdraw funds from the payer's account.

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

Any individual or organization that wishes to set up pre-authorized debits from a payer's account must file a pre-authorized debit pad agreement.

How to fill out pre-authorized debit pad agreement?

To fill out a pre-authorized debit pad agreement, both the payer and payee must provide their personal and banking information, as well as specify the amount and frequency of the debits.

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

The purpose of a pre-authorized debit pad agreement is to establish a convenient and automated way for payments to be made from a payer's account to a payee.

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

The information that must be reported on a pre-authorized debit pad agreement includes the names and contact information of both parties, banking details, debit amount, and frequency.