Get the free Pre-Authorized Debit (PAD) Plan AgreementStrive Capital

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PreAuthorized Debit (PAD) Plan Agreement Your Authorization as Payor to Strive Capital Corporation (Strive) to Debit an Account IMPORTANT INSTRUCTIONS: 1. Please complete all sections. 2. By signing

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How to fill out pre-authorized debit pad plan

01

Contact your financial institution to inquire about setting up a pre-authorized debit (PAD) plan.

02

Provide the necessary information such as your account details, the amount to be debited, and the frequency of the withdrawals.

03

Sign the PAD agreement to authorize the withdrawals from your account.

04

Ensure that you have sufficient funds in your account to cover the withdrawals on the specified dates.

05

Monitor your account regularly to confirm that the payments are being debited correctly.

Who needs pre-authorized debit pad plan?

01

Individuals who want a convenient and hassle-free way to make recurring payments such as utility bills, mortgage or rent payments, insurance premiums, or subscription fees.

02

Businesses that want to collect payments from customers on a regular basis without the need for manual intervention or follow-up.

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What is pre-authorized debit pad plan?

A pre-authorized debit pad plan is an authorization provided by a customer allowing a company to automatically withdraw funds from the customer's bank account on a recurring basis.

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

Any company or organization that wishes to automatically withdraw funds from a customer's bank account using a pre-authorized debit plan is required to file the plan.

How to fill out pre-authorized debit pad plan?

To fill out a pre-authorized debit pad plan, the company must provide details about the customer's bank account, the amount to be withdrawn, the frequency of the withdrawals, and any other relevant information.

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

The purpose of a pre-authorized debit pad plan is to simplify the payment process for both the company and the customer, ensuring that payments are made on time and reducing the risk of missed payments.

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

The pre-authorized debit pad plan must include details such as the customer's bank account information, the amount to be withdrawn, the frequency of the withdrawals, and the effective date of the plan.

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