Debit Order Authorisation
R104.50
You need to get your customer’s written consent before collecting any money owed from their bank account. A Debit Order Authorisation may be used if you need to collect funds from people directly from their bank accounts, via a debit order.
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Description
DEBIT ORDER AUTHORISATION
Summary In order to collect money owed directly from your customer’s or debtor’s bank account, you first need to get your customer’s written consent. A Debit Order Authorisation may be used if you need to collect funds from your customers by debit order.
What type of business should use a Debit Order Authorisation? If you need to collect money from people on an ad hoc or a regular basis, then you may consider using a Debit Order Authorisation to get their permission to withdraw the money owed directly from their bank account. This can minimise your risks of defaulting payers, and also make it easier on the debtors, who do not have to worry about making the payment themselves.
Also viewed: Credit Application Form
What does the template Debit Order look like? The collection authorisation can be printed onto one page.
What do you need to do to use a Debit Order Authorisation?
- Read the document to ensure that it suits your requirements. Make changes as required.
- Ensure that you complete your name and address under the Beneficiary details section.
- Get the payer to complete the relevant details, including their bank details.
- Remember to consult with your bank on the costs and processes involved to implement the debit order.
Also known as: Payment Authorisation; Collection Authorisation
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