Authority to Debit definition

Authority to Debit. The Bank is authorised to debit any account of the Customer with any amount of indebtedness then due to the Bank from time to time. The Bank may exercise this right even if the account concerned is already in debit, and even if the amount debited takes the debit balance of the account over any approved limit. The Bank may debit any amount due on any day on or after the due date.
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Authority to Debit means a legitimate instruction given to the Client by a third party authorising the Client to debit his/her account for payments/instalments due to the Client; (This is only applicable to Clients who have chosen the Bureau Upload Facility).
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Examples of Authority to Debit in a sentence

  • You should ensure that your account is credited with the salary or other income subject to Authority to Debit Account as set within Part Ill of the Agreement.

  • Authority to Debit Account A statement by the Payor that must be duly Authorized in accordance with its account agreement with its Processing Member, clearly and unambiguously authorizing the Payee to debit an account specified by the Payor.

  • In order to implement the transactions contemplated under this paragraph 5, the Merchant hereby authorizes Home Credit to offset payments to the Settlement Account and/or such other accounts of the Merchant with Home Credit in case of legitimate reasons for doing to, such amount as may be necessary to cover the disputed amount contemplated hereunder, without need of any further act or deed on the part of the Merchant, such as but not limited to signing a separate Authority to Debit Form.

  • In order to implement the transactions contemplated under this paragraph 5, the Merchant hereby authorizes Home Credit to debit the Settlement Account and/or such other accounts of the Merchant with Home Credit from time to time such amount as may be necessary to cover the disputed amount contemplated hereunder, without need of any further act or deed on the part of the Merchant, such as but not limited to signing a separate Authority to Debit Form.

  • In order to implement the transactions contemplated under this paragraph, the Merchant hereby authorizes Home Credit to debit the Settlement Account and/or such other accounts of the Merchant with Home Credit from time to time such amount as may be necessary to cover the Chargeback Amount, without need of any further act or deed on the part of the Merchant, such as but not limited to signing a separate Authority to Debit Form.

  • Request and Authority to Debit Member Name: Member Number Instalment Option (please tick): Quarterly Half-Yearly Date / _ / _ I request and authorise Royal South Yarra Lawn Tennis Club to arrange, through its own financial institution, a debit to my nominated account or credit card as per the details below.