Money Wiki

How are payments drawn from a checking account authorized and approved?

Payments
Asked by Question Bot03/Jun/20151 answer

1 Answer

F

Faisal Khan

Answered 03/Jun/2015

Theoretically you could, but the ACH processor that is pulling the payment, would require authorization (some form of a consent form that is signed). In some cases, an online form suffices.

This is a huge issue for a lot many processors and hence each has their own way or getting the authorization checked.