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Authorize IATA to debit your account via Pre-Authorized Debit. Ensure compliance with Canadian Payments Association rules. Participate in BSP. Contact IATA for inquiries.
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What is pre-authorized debit agreement?
A pre-authorized debit agreement is a financial arrangement where a customer authorizes a business or organization to withdraw funds from their bank account on a specified schedule and amount.
Who is required to file pre-authorized debit agreement?
Businesses and organizations that wish to automatically withdraw payments from their customers' bank accounts are required to file a pre-authorized debit agreement.
How to fill out pre-authorized debit agreement?
To fill out a pre-authorized debit agreement, you typically need to provide your bank account details, authorization signature, payment frequency, and the amount to be debited.
What is the purpose of pre-authorized debit agreement?
The purpose of a pre-authorized debit agreement is to facilitate automatic payments for services or debts, ensuring timely payment and convenience for both the payer and payee.
What information must be reported on pre-authorized debit agreement?
The information that must be reported includes the account holder's name, bank account number, institution number, amount to be debited, payment frequency, and authorization signature.
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