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Direct Credit Authorisation Form for Ireland

Direct Credit Authorisation Form Template for Ireland

A Direct Credit Authorisation Form is a standardized banking document used in Ireland that enables the automated transfer of funds into a designated bank account. This document complies with SEPA (Single Euro Payments Area) regulations and Irish banking laws, including the European Union (Payment Services) Regulations 2018. It establishes the legal authorization for an organization to make credit transfers to an account holder's bank account, capturing all necessary account details, payment parameters, and required authorizations while ensuring compliance with GDPR and other relevant data protection requirements.

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What is a Direct Credit Authorisation Form?

The Direct Credit Authorisation Form is a critical banking document used in Ireland when an organization needs to establish automated payment arrangements to credit funds to a recipient's bank account. This form is commonly used for various purposes including salary payments, pension distributions, dividend payments, and regular supplier payments. It must comply with Irish banking regulations, SEPA requirements, and EU payment services directives. The form collects essential information such as account holder details, bank account information (IBAN and BIC), payment specifications, and formal authorization. It includes mandatory data protection notices in compliance with GDPR and may be used in both paper and electronic formats, subject to the Electronic Commerce Act 2000. The document is designed to create a clear audit trail and establish unambiguous authorization for recurring or one-off credit transfers.

What sections should be included in a Direct Credit Authorisation Form?

1. Account Holder Information: Details of the account holder including full name, address, and contact information as required by GDPR and banking regulations

2. Bank Account Details: IBAN, BIC, and bank name for the account to receive credits

3. Originator Information: Details of the organization making the payments, including their name, address, and originator ID

4. Payment Details: Information about the expected payments including purpose, frequency, and any reference numbers

5. Authorization Declaration: Formal declaration authorizing the direct credits, with specific SEPA-compliant wording

6. Data Protection Notice: GDPR-compliant statement about how personal data will be processed and stored

7. Signature Section: Space for date, signature, and capacity of signatory

What sections are optional to include in a Direct Credit Authorisation Form?

1. Joint Account Declaration: Additional section required when the account is held jointly by two or more persons

2. Variable Payment Authorization: Additional authorization section when payment amounts may vary

3. Corporate Authorization: Special section for corporate account holders, including authority verification

4. Electronic Consent: Section for accepting electronic communications and online form submission, required for digital versions

5. International Payment Information: Additional details required for non-SEPA international payments

What schedules should be included in a Direct Credit Authorisation Form?

1. Schedule 1 - Terms and Conditions: Standard terms and conditions for the direct credit service

2. Schedule 2 - Fee Schedule: Optional schedule listing any applicable fees or charges

3. Appendix A - Supporting Documentation Checklist: List of required supporting documents (e.g., ID verification, proof of address)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Authorization Form

Cost

Free to use
Relevant legal definitions






















Clauses



















Relevant Industries

Banking and Financial Services

Insurance

Payroll Services

Government and Public Sector

Healthcare

Education

Retail

Telecommunications

Utilities

Professional Services

Technology

Manufacturing

Real Estate

Relevant Teams

Finance

Payroll

Human Resources

Legal

Compliance

Treasury

Accounts Payable

Banking Operations

Procurement

Administration

Relevant Roles

Finance Manager

Payroll Manager

Human Resources Director

Accounts Payable Manager

Treasury Manager

Banking Operations Manager

Compliance Officer

Legal Counsel

Financial Controller

Company Secretary

Pension Administrator

Benefits Coordinator

Procurement Manager

Accounts Manager

CFO

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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