Debit Authorization Form

Debit Authorization Form is a 2-page legal document that was released by the U.S. Small Business Administration and used nation-wide.

FAQ

Q: What is a Debit Authorization Form?A: A Debit Authorization Form is a document that allows a company or individual to automatically withdraw money from your bank account to pay for goods or services.

Q: Why would I need to fill out a Debit Authorization Form?A: You may need to fill out a Debit Authorization Form if you want to set uprecurring payments or authorize someone to make withdrawals from your bank account.

Q: Who can request a Debit Authorization Form?A: Any company or individual that wants to automatically withdraw money from your bank account may request you to fill out a Debit Authorization Form.

Q: What information is required on a Debit Authorization Form?A: The information typically required on a Debit Authorization Form includes your name, bank account number, routing number, and the amount or frequency of the payments.

Q: Is it safe to fill out a Debit Authorization Form?A: It is generally safe to fill out a Debit Authorization Form, but you should make sure you trust the company or individual requesting the form and read the terms and conditions carefully.

Q: Can I cancel a Debit Authorization Form?A: Yes, you can cancel a Debit Authorization Form by contacting the company or individual that requested the form and asking them to stop the automatic withdrawals.

Q: Do all banks accept Debit Authorization Forms?A: Most banks accept Debit Authorization Forms, but it is always a good idea to check with your specific bank to ensure they have the necessary policies in place.

Q: Are there any fees associated with using a Debit Authorization Form?A: Some companies or individuals may charge fees for using a Debit Authorization Form, so it is important to read the terms and conditions carefully to understand any potential costs.