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BANK DRAFT AUTOMATIC AUTHORIZATION SECTION I. Monthly Withdrawals From Checking or Savings Account Check ONE:Initial AuthorizationFirst Name StreetDiscontinueChangeMILast NameCityState/ / Date of
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What is automatic bank draft authorization?
Automatic bank draft authorization is a process where you give permission to a company or individual to withdraw money directly from your bank account to pay for services or goods.
Who is required to file automatic bank draft authorization?
Anyone who wants to set up automatic payments for their bills or purchases may be required to file automatic bank draft authorization with their bank or the payment recipient.
How to fill out automatic bank draft authorization?
To fill out automatic bank draft authorization, you will need to provide your bank account information, the name of the recipient, the amount to be withdrawn, and the frequency of the payments.
What is the purpose of automatic bank draft authorization?
The purpose of automatic bank draft authorization is to make payments more convenient and hassle-free by allowing them to be automatically deducted from your bank account on a recurring basis.
What information must be reported on automatic bank draft authorization?
The information that must be reported on automatic bank draft authorization includes your bank account number, routing number, the amount and frequency of withdrawals, and the name of the recipient.
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