In order for the Merchant and the Credit Card Company to allow this transaction to be made, you will need to supply further verification of your identity. by relating this information on the blank space labeled “Week, Month, Etc.” In the example below, we will set a recurring payment to be made by the credit card as occurring on the 2nd of every month.ģ – You Must Supply Your Billing Information Naturally, we will need to indicate whether you are approving a weekly payment, monthly payment, quarterly payment, etc. The blank line labeled “Day” will accept either the two-digit calendar day of the month you approve the concerned payment to be made, the day or the week, or any other due date. You can approve a payment made once a week, once a month, or any other period you choose provided you clearly document it. Now you must indicate the frequency this payment amount may be withdrawn from your card by the Merchant. Report the total amount of money the Merchant can charge you on the blank line after the dollar sign. You must declare precisely how much the above Merchant can charge your card and how often this amount should be charged. This name should appear exactly as it does on the books. On the blank line labeled “Merchant’s Name,” fill in the complete name of the Merchant (or vendor) that you will allow to charge your credit card on a regular basis in the future. Begin by entering your name on the blank line labeled “Cardholder’s Name.” Make sure you present this item exactly as it appears on your credit card. Just below this initial paragraph, you will need to supplement a statement with some important information. The first paragraph contains the wording required to authorize the same credit card payment to a specific Merchant on a regular basis. Notice that three buttons are displayed so that you may download this authorization template as a PDF or word processing document.Ģ – Identify Yourself And The Concerned Merchant The paperwork on this page can be downloaded through the buttons provided with the image or the links above. How to Writeĭownload: PDF, MS Word (.docx), OpenDocumentġ – Use The Document On This Page To Set Up A Recurring Credit Card Payment Otherwise, searching the name of the payment description into Google is your best bet for finding the merchant. If you are unaware of the business, there is commonly a phone number listed on your billing statement. For other businesses, it may need to be done over the phone or by signing a consent form. In most cases, canceling recurring credit card payments can be done easily online. Companies who offer a service online can also offer a free trial, which if the customer does not cancel, allows the company to go forth with a recurring payment after the free trial ends. Most websites only require their customers to read a “Terms of Service” or click an “Accept Terms” button which gives the company the legal right to charge a recurring credit card payment if the purchase is made. The advantage of offering a recurring credit card payment online is that it’s far easier to do so and less paperwork. Once complete, the business should retain the form in their records for as long as the person is a customer. In order to legally accept a recurring credit card payment from a customer in person, the business must obtain the signature of the customer. For gym businesses, this is standard procedure as every gym tries to lock their customers’ into a recurring monthly credit card payment. The traditional route and most widely used format before the internet arrived. In either case, any business charging recurring credit card payments will need accounting software such as Quickbooks that can generate reports and track customer transactions. There are two ways in which a company can accept a recurring credit card payment when a customer is physically present or when a customer lands on a business’s website online. This is common especially for gym memberships, software subscriptions, and any other repeating payment authorizations. How to Write a Recurring Credit Card AuthorizationĪ recurring payment is commonly made on a weekly or monthly basis.The charges will end when the purchase has been paid in full or if permission is removed by the cardholder. By providing permission for recurring payments, you will be charged on or around the same time each month. The payments will be charged at the end of each billing cycle. utility bills, various subscriptions, automobile payments, etc.) from an individual’s credit card account. A recurring credit card authorization form is a document that will authorize a company to automatically deduct payment (i.e.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |