Document background
The Electronic Funds Transfer Authorisation Form is a critical document used when establishing automated payment arrangements between parties in England and Wales. It serves as formal authorization for recurring or one-time electronic fund transfers, ensuring compliance with the Payment Services Regulations 2017 and UK financial services legislation. The form includes essential information such as account holder details, banking information, transfer specifications, and necessary declarations. It's particularly important for businesses setting up direct debits, regular payments, or automated clearing house (ACH) transfers.
