Document background
The Authorization Agreement For Direct Deposits is a fundamental document used in Belgian business operations to establish and maintain automated electronic payment arrangements. This agreement is essential when setting up recurring electronic fund transfers, such as salary payments, vendor payments, or regular disbursements. It complies with Belgian banking regulations, the EU Payment Services Directive 2 (PSD2), and GDPR requirements. The document is particularly relevant in employment contexts, business-to-business transactions, and any situation requiring regular, automated financial transfers. It includes crucial elements such as account holder authorization, banking details, payment specifications, and data protection provisions. This agreement type is widely used across Belgium's three regions and can be executed in multiple languages (Dutch, French, or German) depending on the region, though the governing law remains Belgian.
