17 Jun 2022

How important is it to complete my direct debit authority correctly?

Direct Debits Good

When completing a direct debit authority form, it is important to complete the form correctly. Even one small misspelling can cause a fatal error. For example, if you do not correctly fill out your name, address, and banking institute information, there is a high chance that the information belongs to someone else.

However, keep in mind that the banking numbers are unique, and it is rare. That being said, if you fill a direct debit authority form incorrectly with information that belongs to another, they could be charged instead of you.

Thankfully though, it is not the end of the world if you do not complete your direct debit authority form correctly. There are second chances. Typically, when you fill out this form online, the information is stored and verified. However, if the information is not correct, the request will not be approved. 

To ensure that you have all of the information you need, first, collect everything. Usually, your banking information, like the account number, is in your monthly statements. Double-check that the numbers are filled correctly before submitting the form. If not, this can result in a delay and a late payment fee.

Completing Direct Debit Authority Correctly Conclusion

When completing your direct debit authority, it is vital that the application/form is correct. Before submitting it, go line by line and double-check for spelling errors and typos. Mortgage House experts are knowledgeable specialists ready to assist you with your direct debit authority forms and any other lending questions!

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