ACH Authorization Form for Malta

ACH Authorization Form Template for Malta

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ACH Authorization Form

"I need an ACH Authorization Form for my Malta-based software company to process monthly subscription payments from our enterprise clients, with the first payment starting January 2025 and including provisions for variable payment amounts based on user count."

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What is a ACH Authorization Form?

The ACH Authorization Form serves as a formal agreement between parties to establish automated electronic fund transfers in accordance with Maltese and EU banking regulations. This document is essential when setting up recurring payments, direct debits, or regular fund transfers between accounts. It ensures compliance with Malta's Financial Institutions Act, EU SEPA regulations, and relevant data protection laws. The form captures crucial information including account holder details, banking information, payment specifications, and authorization terms. It's particularly important for businesses operating in Malta's financial sector and any entity requiring regular payment processing capabilities. The document includes necessary provisions for both domestic and SEPA transactions, incorporating required security measures and revocation rights as mandated by EU payment services directives.

What sections should be included in a ACH Authorization Form?

1. Account Holder Information: Full legal name, address, and contact details of the account holder authorizing the ACH transfers

2. Bank Account Details: Complete banking information including bank name, IBAN, BIC/SWIFT code, and account type

3. Payment Authorization: Clear statement of authorization for direct debits/credits, including the type of transactions authorized

4. Transaction Details: Specification of payment amount (fixed or variable), frequency, and start date

5. Revocation Rights: Information about the account holder's right to cancel the authorization and the process for doing so

6. Signature Block: Space for date and authorized signature, including electronic signature provisions if applicable

What sections are optional to include in a ACH Authorization Form?

1. Variable Amount Authorization: Additional terms for when payment amounts may vary, including any maximum limits - include when payments are not fixed

2. Multiple Account Authorization: Section for authorizing transfers between multiple accounts - include when the client needs to specify multiple accounts

3. Third Party Authorization: Additional provisions when a third party is authorized to initiate transfers - include when third party authorization is needed

4. International Transfer Terms: Specific terms for cross-border transfers - include for international payment arrangements

5. Digital Authorization Provisions: Specific terms for electronic authorization - include when offering digital signing options

What schedules should be included in a ACH Authorization Form?

1. Schedule A - Payment Schedule: Detailed schedule of payment dates and amounts (if fixed)

2. Schedule B - Fee Schedule: Breakdown of any applicable fees for the ACH services

3. Appendix 1 - Required Documentation: List of supporting documents required for verification of account ownership

4. Appendix 2 - Cancellation Form: Standard form for cancelling the ACH authorization

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

alex.den.21@genieai.co

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Authorisation Form

A Maltese law-governed document that formally authorizes one party to act on behalf of another, compliant with local regulations and GDPR requirements.

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What is a ACH Authorization Form?

What sections should be included in a ACH Authorization Form?

What sections are optional to include in a ACH Authorization Form?

What schedules should be included in a ACH Authorization Form?

Authors

Alex Denne

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