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1040 South High Street ? PO Box 1109 ? Harrisonburg, VA 22801 (540) 434-3856 ? Fax (540) 434-6890 Recurring Payment Plan Authorization Form Checking/Savings Account Schedule your payment to be automatically

How to fill out recurring payment plan authorization

How to fill out a recurring payment plan authorization:

1. Start by obtaining the recurring payment plan authorization form from the organization or company that will be receiving the payments. This form is typically available on their website or can be requested through customer service.
2. Begin by providing your personal information on the form, such as your full name, address, phone number, and email address. Make sure to double-check the accuracy of this information to avoid any issues with the payment process.
3. Next, provide the necessary financial details. This includes providing your bank account information, such as the account number and routing number, or credit card details, such as the card number, expiry date, and security code. Again, accuracy is crucial when entering this information to ensure the payments are processed correctly.
4. Specify the payment amount and frequency. Indicate the exact amount you wish to be charged for each recurring payment and specify the frequency, such as monthly, quarterly, or annually. Be sure to review the terms and conditions regarding changes or cancellations to the recurring payment plan.
5. Read and understand the authorization agreement. Carefully review the terms and conditions of the recurring payment plan authorization. This includes understanding the payment amount, frequency, start date, and any additional fees or penalties that may apply. If you have any questions or concerns, don't hesitate to reach out to the organization for clarification.
6. Sign and date the form. Once you have reviewed and understood the terms outlined in the authorization form, sign and date the document to confirm your agreement. Some forms may require a witness signature or additional information, so make sure to provide any necessary details as required.

Who needs recurring payment plan authorization?

Recurring payment plan authorization is typically required by individuals or businesses who want to set up automatic payments for goods or services. Some common examples include:

1. Subscriptions: If you subscribe to any services or memberships that require regular payments, such as streaming platforms, magazines, or gym memberships, you may need to authorize recurring payments.
2. Utility Bills: Many utility companies offer the option to set up automatic payments for bills such as electricity, water, or internet services. Recurring payment plan authorization is necessary to enable these automated transactions.
3. Loan Payments: When repaying a loan, whether it's a personal loan, mortgage, or car loan, setting up a recurring payment plan authorization ensures that your monthly payments are made on time.

Remember, it's important to carefully review the terms and conditions of the recurring payment plan authorization and keep track of your payments to avoid any unexpected charges or issues with the payment process.

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What is recurring payment plan authorization?

Recurring payment plan authorization is a written agreement between a customer and a company that allows for automatic withdrawals of funds from the customer's account at regular intervals.

Who is required to file recurring payment plan authorization?

Any company or individual who wishes to set up recurring payments from a customer's account is required to file a recurring payment plan authorization.

How to fill out recurring payment plan authorization?

To fill out a recurring payment plan authorization, the customer must provide their banking information, the amount to be withdrawn, the frequency of the withdrawals, and their signature.

What is the purpose of recurring payment plan authorization?

The purpose of recurring payment plan authorization is to streamline the payment process for both the customer and the company, ensuring timely and hassle-free payments.

What information must be reported on recurring payment plan authorization?

The recurring payment plan authorization must include the customer's name, banking information, withdrawal amount, withdrawal frequency, and signature.