Direct Credit Authorisation Form Template for Canada

The Direct Credit Authorization Form is essential for establishing automated payment arrangements within the Canadian banking system. It is commonly used when setting up direct deposits for various purposes, including payroll, government benefits, dividend payments, or regular business transactions. The form must comply with Payments Canada Rule H1, PIPEDA, and relevant banking regulations. It collects and validates account holder information, banking details, and explicit authorization for direct credits. This document is particularly important for businesses and organizations that need to make regular payments to employees, suppliers, or beneficiaries, providing a secure and efficient method for electronic funds transfers while ensuring proper documentation and regulatory compliance.

1. Account Holder Information: Details of the account holder including full legal name, address, and contact information

2. Financial Institution Details: Information about the bank/credit union including institution number, transit number, and branch address

3. Bank Account Information: Account details including account number and account type

4. Payment Authorization: Express authorization for direct credits, including purpose of payments and transaction types

5. Privacy Consent: Consent for collection, use, and disclosure of personal information in accordance with PIPEDA

6. Terms and Conditions: Standard terms including processing timeframes, cancellation rights, and dispute resolution

7. Authorization Confirmation: Signature section with date and declaration of authority to sign