The Direct Payment Form is a crucial financial instrument in the Malaysian banking system, designed to facilitate secure and authorized payment transactions between parties. This document is typically used when establishing regular payment arrangements, one-time significant transfers, or corporate payment setups. The form must comply with Malaysian banking regulations, including the Financial Services Act 2013 and relevant Bank Negara Malaysia directives. It contains essential fields for payment authorization, including detailed payer and payee information, bank account details, payment specifications, and necessary declarations. The Direct Payment Form serves as both a transaction record and a legal document, making it essential for financial audit trails and regulatory compliance. It's particularly relevant for business operations, recurring payments, vendor settlements, and other structured payment arrangements within the Malaysian jurisdiction.

1. Form Title and Reference Number: Clear identification of the document as a Direct Payment Form with a unique reference number

2. Payer Information: Complete details of the party making the payment, including full name, identification/registration number, and contact information

3. Payee Information: Complete details of the beneficiary receiving the payment, including full name, identification/registration number, and contact information

4. Payment Details: Specific information about the payment including amount, currency, and purpose of payment

5. Bank Account Details: Complete banking information for the payee including bank name, account number, and branch details

6. Payment Authorization: Express authorization from the payer for the specified payment, including terms and conditions

7. Declaration: Payer's declaration of the accuracy of information and acceptance of the bank's terms

8. Signature Section: Space for payer's signature, date, and witness details if required