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This document is a Pre-Authorized Debit (PAD) Agreement for parents of children enrolled in Silver Springs Preschool. It outlines details for the debit payment options, fees for volunteer duties, and provides information regarding revocation of authorization and recourse rights in case of discrepancies.
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How to fill out pre-authorized debit agreement

How to fill out pre-authorized debit agreement
01
Obtain the pre-authorized debit agreement form from your bank or service provider.
02
Fill out your personal information including name, address, and account details.
03
Specify the amount to be debited and the frequency of the transactions.
04
Provide the details of the entity that will debit your account (such as a company name).
05
Sign the agreement to authorize the pre-authorized debits.
06
Submit the completed form to your bank or the authorized entity.
Who needs pre-authorized debit agreement?
01
Individuals who wish to automate their bill payments or regular transactions.
02
Businesses that require consistent payment processing from customers.
03
Clients of subscription services where regular payments are necessary.
04
Anyone seeking to simplify their financial management by establishing regular deductions.
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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 financial institution to withdraw funds directly from their bank account on a scheduled basis.
Who is required to file pre-authorized debit agreement?
Businesses or organizations that want to collect payments directly 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To fill out a pre-authorized debit agreement, include the customer's name, bank account details, the amount to be withdrawn, the frequency of the withdrawals, and the customer's signature consenting to the arrangement.
What is the purpose of pre-authorized debit agreement?
The purpose of a pre-authorized debit agreement is to facilitate automatic payments, ensuring timely collection of funds for recurring expenses without the need for the customer to initiate each payment.
What information must be reported on pre-authorized debit agreement?
The pre-authorized debit agreement must report the customer's bank account number, the payer's name, payment amount, payment frequency, and the customer's authorization signature.
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