��������Ƶ

The Direct Debit Authorisation Form is a fundamental financial document used in New Zealand's banking system to establish automated payment arrangements between parties. This document is essential when a business or organization needs to collect regular payments from customers' bank accounts, whether for fixed or variable amounts. The form must comply with Payments NZ Direct Debit Rules and various New Zealand regulations, including the Privacy Act 2020 and the Contract and Commercial Law Act 2017. It captures crucial information such as account holder details, bank account information, payment specifications, and formal authorization. The document serves as both a legal agreement and a practical tool for establishing recurring payment arrangements, providing security and convenience for both the initiating organization and the account holder.

1. Bank Account Holder Details: Section capturing the full legal name(s) of the account holder(s), contact details, and address

2. Bank Account Information: Details of the bank account to be debited, including bank name, branch, account number, and suffix

3. Initiator Details: Information about the company/organization that will initiate the direct debit, including their authorisation code

4. Payment Details: Specification of payment amounts (if fixed) or calculation method, frequency, and start date

5. Authorization Statement: Standard authorization text as required by Payments NZ, confirming the account holder's agreement to the direct debit

6. Terms and Conditions: Standard direct debit terms and conditions as specified by Payments NZ

7. Customer Authorization: Signature section, date, and confirmation of authority to operate the account