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The Automatic Deposit Form serves as a standardized document for establishing direct deposit arrangements in Canada. It is commonly used when an individual needs to receive regular payments electronically from an organization, such as salary deposits, expense reimbursements, or benefit payments. The form collects necessary banking information and authorization while ensuring compliance with Canadian banking regulations, including Payments Canada Rule H1 and privacy laws. This document is essential for modern business operations, offering a secure and efficient method for processing recurring payments while reducing paper checks and administrative overhead. The form includes vital information such as bank account details, deposit specifications, and explicit authorization for electronic transfers, creating a clear record of the arrangement between the payer and payee.

1. Personal Information: Employee/payee details including full name, address, and contact information

2. Banking Information: Bank account details including institution number, transit number, and account number

3. Deposit Details: Specification of deposit type (payroll, expense reimbursement, etc.) and frequency

4. Authorization: Express consent for automatic deposits and acknowledgment of terms

5. Cancellation Terms: Information about how to cancel or modify the automatic deposit arrangement