ACH Payment Form Template for Denmark

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Key Requirements PROMPT example:

ACH Payment Form

I need an ACH Payment Form under Danish law for setting up recurring monthly payments from our business customers, with the first payment starting March 2025, including specific provisions for multiple account authorizations and early termination options.

Document background
The ACH Payment Form is a crucial document used in Denmark for establishing electronic payment arrangements between bank accounts. It is required whenever an individual or business wishes to authorize automated payments, whether for regular bills, subscription services, or other recurring financial obligations. The form must comply with Danish financial regulations, particularly the Danish Payments Act and EU payment services directives, while also adhering to GDPR requirements for handling personal financial information. This document is essential for businesses operating in Denmark that need to collect regular payments from customers or partners, and for individuals who wish to automate their payment processes. The ACH Payment Form includes comprehensive details about the payment arrangement, including account information, payment schedule, and authorization terms, while incorporating necessary consumer protections and cancellation rights under Danish law.
Suggested Sections

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

2. Bank Account Details: Complete banking information including account number, reg. number, and bank name/branch

3. Payment Authorization: Express authorization for ACH debits, including the scope and nature of the authorization

4. Payment Details: Specification of payment amount, frequency, and purpose

5. Terms and Conditions: Standard terms governing the ACH payment arrangement, including rights and obligations under Danish law

6. Cancellation Rights: Information about the right to cancel or modify the authorization, including notice requirements

7. Data Protection Notice: GDPR-compliant privacy notice regarding the handling of personal and financial information

8. Signature Block: Space for date and legally binding signature (whether electronic or physical)

Optional Sections

1. International Payment Terms: Additional terms for cross-border payments, required when the payment involves non-Danish bank accounts

2. Business Account Declaration: Additional declarations required when the account holder is a business entity rather than an individual

3. Multiple Account Authorization: Section for authorizing payments from multiple accounts, when needed

4. Direct Debit Guarantee: Additional protections and guarantees for direct debit arrangements, typically included for consumer accounts

5. Representative Authorization: Required when someone other than the account holder is authorized to set up the payment arrangement

Suggested Schedules

1. Payment Schedule: Detailed schedule of payment dates and amounts for recurring payments

2. Fee Schedule: Breakdown of any applicable transaction fees or charges

3. Required Identification Documents: List of required KYC documents as per Danish Money Laundering Act requirements

4. Bank Information Sheet: Additional bank-specific information and requirements for ACH processing

Authors

Alex Denne

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

Relevant Industries

Banking and Financial Services

Retail

Insurance

Utilities

Telecommunications

Professional Services

Real Estate

Healthcare

Education

Subscription Services

E-commerce

Manufacturing

Non-profit Organizations

Relevant Teams

Finance

Accounts Receivable

Accounts Payable

Treasury

Legal

Compliance

Customer Service

Sales Operations

Administration

Payment Operations

Revenue Operations

Relevant Roles

Finance Manager

Accounts Receivable Specialist

Accounts Payable Specialist

Treasury Manager

Financial Controller

Billing Coordinator

Payment Operations Manager

Compliance Officer

Legal Counsel

Account Manager

Customer Service Representative

Business Development Manager

Sales Operations Manager

Administrative Officer

Financial Services Representative

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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