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PreAuthorized Debit Plan Authorization of the Payer to the Payee to Direct Debit an Account St. Benedict Parish (Payee) 300 Yates Drive, Milton, ON L9T 2W31. 2. 3. 4. Please complete all sections

How to fill out pre-authorized debit plan authorization

How to fill out pre-authorized debit plan authorization

1. Contact your financial institution or credit union to obtain a pre-authorized debit plan authorization form.
2. Fill out the form by providing your personal information, such as your name, address, and contact details.
3. Specify the payment details, including the amount, frequency, and start date of the pre-authorized debit.
4. Read and understand the terms and conditions of the pre-authorized debit plan, including any fees or penalties.
5. Sign and date the form to indicate your consent and agreement to the pre-authorized debit plan.
6. Submit the completed form to your financial institution or credit union for processing.
7. Keep a copy of the form for your records and monitor your bank statements to ensure that the authorized debits are being processed correctly.

Who needs pre-authorized debit plan authorization?

1. Anyone who wishes to automate their bill payments or regular expenses can benefit from pre-authorized debit plan authorization.
2. Individuals who have recurring bills, such as utilities, rent, mortgage, or loan payments, can use this authorization to ensure timely payment.
3. Businesses can also utilize pre-authorized debit plan authorization to collect payments from their customers on a regular basis.
4. This authorization provides convenience, avoids the hassle of manual payments, and helps to avoid late payment fees.

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What is pre-authorized debit plan authorization?

Pre-authorized debit plan authorization is a consent provided by a customer to allow a business or organization to withdraw funds from their bank account automatically on a scheduled basis for payments.

Who is required to file pre-authorized debit plan authorization?

Individuals and businesses that plan to set up automated payments through pre-authorized debits to a third party are required to file pre-authorized debit plan authorization.

How to fill out pre-authorized debit plan authorization?

To fill out a pre-authorized debit plan authorization, you typically need to provide your bank account information, the amount to be debited, the frequency of the debits, and your signature to acknowledge consent.

What is the purpose of pre-authorized debit plan authorization?

The purpose of pre-authorized debit plan authorization is to streamline the payment process, ensuring timely payments without the need for manual intervention, and to prevent late fees.

What information must be reported on pre-authorized debit plan authorization?

The information that must be reported includes the payee’s name, the amount to be debited, the account from which funds will be withdrawn, the frequency of payments, and the authorization signature.