Direct Debit Authorization Form

Direct Debit Authorization Form Template for Denmark

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Document background

The Direct Debit Authorization Form is a crucial document in the Danish financial system, used to establish automated payment arrangements between parties. This document is required whenever an organization needs to set up recurring automatic payments from a customer's bank account. It must comply with the Danish Payments Act (Lov om betalinger) and relevant EU regulations, including PSD2 and GDPR. The form collects essential information such as account holder details, bank account information, creditor identification, and specific payment parameters. It's particularly important in the Danish market where direct debit (Betalingsservice) is a widely used payment method for recurring bills and subscriptions. The document includes mandatory consumer protection elements and clear cancellation rights as required by Danish law.

Suggested Sections

1. Account Holder Information: Complete details of the account holder including full name, address, and contact information as required for proper identification

2. Bank Account Details: The account holder's bank account information including account number, bank name, and IBAN

3. Creditor Information: Details of the company/organization that will be collecting the direct debit, including their creditor ID

4. Authorization Declaration: Clear statement authorizing the creditor to collect payments via direct debit, including the scope of the authorization

5. Payment Details: Specification of payment amounts (if fixed) or calculation method, frequency, and start date

6. Terms and Conditions: Standard terms governing the direct debit arrangement, including rights and obligations of both parties

7. Data Protection Notice: GDPR-compliant statement about how personal data will be processed

8. Cancellation Rights: Information about how and when the account holder can cancel the direct debit authorization

Optional Sections

1. Variable Payment Authorization: Additional terms for variable amount direct debits - include when payment amounts may vary

2. Multiple Account Authorization: Section for authorizing direct debits from multiple accounts - include when the account holder wants to set up direct debits from more than one account

3. Special Instructions: Space for any specific instructions or conditions - include when there are non-standard arrangements

4. Digital Signature Section: Section for electronic signature details - include when the form will be signed digitally rather than in paper form

Suggested Schedules

1. Schedule of Payments: Detailed breakdown of payment dates and amounts (if fixed) - optional appendix for regular payment arrangements

2. Terms and Conditions Appendix: Detailed version of the full terms and conditions that govern the direct debit arrangement

3. Bank Mandate Form: Standard bank form required by the specific bank for setting up the direct debit - varies by bank

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