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The Direct Debit Authorization Form is a crucial financial document used in Hong Kong's banking system to establish automated payment arrangements. It is typically used when a business or organization needs to collect regular payments from customers, such as for utility bills, insurance premiums, loan repayments, or subscription services. The form must comply with the Hong Kong Monetary Authority's requirements and the Banking Ordinance, containing specific fields for bank account details, payment parameters, and authorization scope. This document serves as the legal basis for the bank to process recurring debits from the customer's account and provides protection for all parties involved by clearly stating the terms of the authorization. The form is designed to be processed through Hong Kong's automated clearing house system and typically requires verification of the account holder's signature against bank records.

1. Bank Information: Details of the receiving bank and branch, including bank name, branch, and bank code

2. Debtor Information: Customer details including full name (as per bank account), bank account number, and contact information

3. Beneficiary Information: Details of the party receiving the payments, including company name and identification

4. Payment Details: Specification of payment arrangements including maximum limit per payment (if any), frequency, and effective period

5. Authorization Declaration: Standard declaration text confirming the account holder's authorization for direct debit

6. Signature Section: Space for account holder's signature and date, matching bank records