Direct Credit Authorisation Form

Direct Credit Authorisation Form for Belgium

Direct Credit Authorisation Form Template for Belgium

A Direct Credit Authorisation Form under Belgian law is a standardized document that enables an organization to make direct payments into an individual's or entity's bank account. The form complies with Belgian banking regulations, SEPA requirements, and EU payment services directives, particularly PSD2. It contains the necessary authorization from the account holder, their bank account details, and the terms under which regular payments can be credited to their account. The document includes provisions for data protection under GDPR and specific Belgian privacy laws, making it a comprehensive tool for establishing recurring payment arrangements in Belgium.

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What is a Direct Credit Authorisation Form?

The Direct Credit Authorisation Form is a crucial document used in Belgian banking and payment systems to establish automated payment arrangements. It enables organizations to make direct credits (payments) into an account holder's bank account on a recurring basis. This form is commonly used for salary payments, pension distributions, dividend payments, and other regular financial transactions. The document must comply with Belgian banking laws, SEPA regulations, and EU directives, particularly PSD2. It typically includes the account holder's details, bank information, authorization declaration, and relevant terms and conditions. The form also incorporates necessary data protection provisions in accordance with GDPR and Belgian privacy laws. This standardized format ensures smooth processing of regular payments while maintaining legal compliance and protecting both parties' interests.

What sections should be included in a Direct Credit Authorisation Form?

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

2. Bank Account Details: IBAN, BIC/SWIFT code, and bank name of the account to receive direct credits

3. Creditor Information: Details of the organization that will be making the credit transfers

4. Authorization Declaration: Clear statement of the account holder's authorization for direct credits to be made to their account

5. Payment Details: Nature of the payments, frequency, and any reference numbers or identifiers

6. Signature Block: Space for date, signature, and name of the account holder

What sections are optional to include in a Direct Credit Authorisation Form?

1. Maximum Amount Limit: Optional section to specify maximum amount limits for credits, used when the account holder wants to set transaction limits

2. Duration of Authority: Optional section to specify if the authorization is for a fixed period rather than ongoing

3. Multiple Account Authorization: Optional section for cases where credits may be received into multiple specified accounts

4. Special Instructions: Optional section for any specific requirements or conditions for the credit transfers

What schedules should be included in a Direct Credit Authorisation Form?

1. Terms and Conditions: Standard terms and conditions applying to the direct credit arrangement

2. Privacy Notice: Information about how personal and financial data will be processed, as required by GDPR

3. Supporting Documentation Checklist: List of required supporting documents such as ID verification or proof of address

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Alex Denne

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

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Authorisation Form

A Belgian-law compliant document that formally grants specific powers or permissions from an authorizing party to an authorized representative.

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What is a Direct Credit Authorisation Form?

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