Parties
Clearly identify payer and payee by legal name, business entity type, and contact details; this avoids ambiguity during bank or dispute review and ties the authorization to specific accounts and invoices.
A properly completed EFT Payment Authorization Signature documents consent, reduces payment disputes, and speeds collection by giving banks and processors authoritative payment instructions.
Organizations and individuals who collect recurring or one-time electronic payments use this authorization to obtain legal consent and bank details before initiating transfers.
Common signers include payors, authorized account holders, and corporate officers when the payor is a business; documentation reduces processor and bank onboarding friction.
Signs on behalf of an LLC or corporation after confirming corporate authorization and attaching a resolution or signed procurement approval when required by internal policy.
Signs as the bank account owner or authorized signer, supplying the account and routing numbers and verifying identity consistent with bank requirements and anti-fraud controls.
Clearly identify payer and payee by legal name, business entity type, and contact details; this avoids ambiguity during bank or dispute review and ties the authorization to specific accounts and invoices.
Provide bank name, routing transit number, account number, and account type; cite the source such as a voided check or bank letter to reduce return risk and speed processor verification.
Specify amount, frequency, start date, and end date or cancellation procedure so banks can correctly schedule ACH debits or credits and parties understand the authorization scope.
Use explicit language granting the recipient right to debit the account and explain reversal or dispute instructions to meet intent requirements under ESIGN and UETA standards.
Include printed name, title if signing for an entity, signature, and date; for businesses attach evidence of signing authority such as a corporate resolution where required.
Assign a unique reference or invoice number to the authorization to link it to transactions and simplify reconciliation and audit activity.
| Field | Configuration |
|---|---|
| Account Details | Required; masked display; validation rules |
| Payment Schedule | Dropdown for frequency; conditional end date |
| Identity Check | Email + SMS or stronger KBA option |
| Document Storage | Encrypted retention with audit trail |
Integrate with accounting, ERP, or payments platforms to automate posting; ensure the chosen method supports audit trails and required authentication.
Effective when signed unless a future start date is specified
1–5 business days for account verification
Typically 1–2 business days after initiation
Up to 60 days for unauthorized ACH disputes
Follow bank or agreement notice period, often 3 business days
Export signed records as PDF/A with embedded audit trail and timestamp to preserve authenticity for audits and dispute resolution.
Download summary data (reference ID, signer, bank last four, authorization dates) for batch reconciliation with accounting systems.
Retain encrypted backups in approved cloud storage to meet retention policies and enable disaster recovery.
Provide printer-friendly versions for in-person countersigning or corporate recordkeeping requirements.
| Document Type | EFT Authorization | Voided Check | Payment Agreement |
|---|---|---|---|
| Purpose | authorize electronic debit | provide bank proof | define payment terms |
| Signature Needed | |||
| Bank Verification | often required | serves as verification | may require separate bank proof |
| Use Case | ach debits or recurring transfers | account setup | contractual payment schedules |
| signNow | DocuSign | Adobe Sign | PandaDoc | HelloSign | |
|---|---|---|---|---|---|
| Starting Price | $8/user/mo | $15/user/mo | $14/user/mo | $19/user/mo | $15/user/mo |
| Free Trial | Yes, 7-day trial | Varies | Varies | Varies | Varies |
| Bulk Send | Yes | Yes | Yes | Yes | No |
| Audit Trail | Yes | Yes | Yes | Yes | Yes |
| HIPAA Compliant | Yes | Yes | Yes | No | No |
| Envelope Cap | No cap | 100 envelopes/user/year | Varies | Varies | Varies |