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AGREEMENT FOR PREAUTHORIZED PAYMENTSAccount number (Leave back-office Use Only)I hereby authorize, (Community) and KG Accounting Services, Inc. to initiate debit entries in the amount of my quarterly

How to fill out agreement for pre-authorized debit

How to fill out agreement for pre-authorized debit

1. Obtain the agreement form from the organization that will be receiving the pre-authorized debit.
2. Read the agreement carefully to understand the terms and conditions.
3. Provide your personal information, such as name, address, and contact details, as requested in the agreement.
4. Specify the bank account details from which the funds will be debited.
5. Sign and date the agreement to indicate your consent to the pre-authorized debits.
6. Keep a copy of the agreement for your records.
7. Submit the filled-out agreement to the organization as per their instructions.
8. Monitor your bank account to ensure the pre-authorized debits are being processed correctly.

Who needs agreement for pre-authorized debit?

1. Anyone who wants to regularly make payments to an organization or service provider can benefit from having an agreement for pre-authorized debit.
2. This can include individuals who have recurring bills, such as utility payments, insurance premiums, or subscription services.
3. Businesses or organizations may also require pre-authorized debit agreements to collect payments from their customers or clients on a regular basis.

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What is agreement for pre-authorized debit?

An agreement for pre-authorized debit is a contract between a payer and a payee that allows the payee to withdraw funds directly from the payer's bank account on a recurring basis.

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

Both the payer and the payee are required to fill out and file an agreement for pre-authorized debit.

How to fill out agreement for pre-authorized debit?

To fill out an agreement for pre-authorized debit, both parties must provide their personal information, bank account details, and authorize the pre-authorized debit transactions.

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

The purpose of an agreement for pre-authorized debit is to establish a legal and binding contract between the payer and payee for the automatic withdrawal of funds.

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

The agreement must include the names and contact information of both parties, bank account details, the amount and frequency of withdrawals, and the authorization for the pre-authorized debits.