tiktok³ÉÈË°æ

All Countries
Banking
Letter Of Authorization To Debit Account

Letter Of Authorization To Debit Account Template for Malaysia

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Letter Of Authorization To Debit Account

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Letter Of Authorization To Debit Account

"I need a Letter of Authorization to Debit Account for my monthly utility bill payments to Tenaga National Berhad, authorizing automatic debits of variable amounts not exceeding RM 500 per month, starting from January 2025."

Celebrated by
Collaborations with
Investors
Document background
The Letter of Authorization to Debit Account is a fundamental banking document used in the Malaysian financial sector to establish automated payment arrangements. This document is essential when an account holder wishes to authorize their bank to automatically debit their account for recurring payments or specific transactions. It must comply with Malaysian banking regulations, including the Financial Services Act 2013 and Bank Negara Malaysia directives. The authorization letter typically includes detailed information about the account holder, the bank, payment details, and the beneficiary. It's commonly used for various purposes such as loan repayments, insurance premiums, utility bills, or other recurring payments. The document serves as legal proof of the account holder's consent and protects both the bank and the account holder by clearly defining the terms of the automatic debit arrangement.
Suggested Sections

1. Letter Header: Date, recipient bank details, and reference number

2. Account Holder Information: Full name, address, and contact details of the account holder

3. Bank Account Details: Complete bank account information including account number, bank name, and branch

4. Authorization Statement: Clear statement of authorization to debit the account, including purpose of the authorization

5. Debit Details: Specific details about the authorized debits including amount or calculation method

6. Duration of Authorization: Validity period of the authorization, including start date and end date if applicable

7. Declaration: Statement confirming the account holder's understanding and agreement to the terms

8. Signature Block: Space for account holder's signature, date, and witness details if required

Optional Sections

1. Multiple Account Holders: Additional signature blocks and details when account has joint holders

2. Company Authorization: Required for corporate accounts, including board resolution reference and authorized signatory details

3. Variable Amount Authorization: Specific terms for variable debit amounts, including maximum limits and calculation methods

4. Cancellation Terms: Specific terms for canceling the authorization, if different from standard bank terms

5. Third Party Beneficiary: Details of the third party/payee who will receive the debited funds

Suggested Schedules

1. Payment Schedule: Detailed schedule of debit dates and amounts if fixed payments are involved

2. List of Authorized Transactions: Itemized list of specific transactions or services covered by the authorization

3. Supporting Documents: Copies of relevant documents such as invoice agreements or service contracts referenced in the authorization

4. Bank's Terms and Conditions: Standard bank terms and conditions for direct debit arrangements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


















Clauses


















Relevant Industries

Banking and Financial Services

Insurance

Utilities

Telecommunications

Real Estate

Education

Healthcare

Retail

Subscription Services

Property Management

Investment Services

Professional Services

Relevant Teams

Legal

Compliance

Finance

Banking Operations

Customer Service

Account Management

Treasury

Risk Management

Corporate Secretarial

Credit Control

Relevant Roles

Bank Manager

Compliance Officer

Account Relationship Manager

Financial Services Officer

Banking Operations Manager

Credit Controller

Finance Manager

Treasury Manager

Corporate Secretary

Legal Counsel

Customer Service Manager

Account Executive

Financial Controller

Accounts Receivable Manager

Banking Operations Supervisor

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Accounts Receivable Collection Agreement

A Malaysian law-governed agreement establishing terms for accounts receivable collection services, including compliance requirements, fee structures, and operational procedures.

find out more

Deed Of Assignment Of Shares

A Malaysian law-governed deed that formally documents and executes the transfer of shares from one party to another, ensuring legal compliance with local corporate and stamp duty requirements.

find out more

Current Account Agreement

Malaysian law-governed agreement establishing terms and conditions for operating a current account with a financial institution in Malaysia.

find out more

Pre Authorized Payment Agreement

A Malaysian law-governed agreement establishing automated recurring payment arrangements between a financial institution and account holder, complying with local banking and data protection regulations.

find out more

Collateral Account Control Agreement

A Malaysian law-governed agreement establishing control arrangements over bank accounts as security, detailing operational procedures and control rights between account holder, secured party, and account bank.

find out more

Collateral Account Agreement

Malaysian law-governed agreement establishing security over bank accounts and their contents, detailing account operation and security enforcement rights.

find out more

Running Account Credit Agreement

A Malaysian law-governed agreement establishing a revolving credit facility between a financial institution and borrower, detailing terms for ongoing credit access and utilization.

find out more

Business Account Agreement

A Malaysian law-governed agreement between a bank and business entity establishing terms for business banking accounts and related services.

find out more

Bookkeeping Confidentiality Agreement

A Malaysian law-governed confidentiality agreement protecting financial information handled by bookkeepers, ensuring compliance with local data protection and financial services regulations.

find out more

Trust Account Agreement

A Malaysian law-governed agreement establishing the terms and conditions for operating a trust account, defining relationships between trustee, settlor, and beneficiaries.

find out more

Letter Of Authorization To Debit Account

A Malaysian banking document authorizing automatic debits from an account holder's account, compliant with local banking regulations and central bank guidelines.

find out more

Account Control Agreement

A Malaysian law agreement establishing control rights over bank accounts in secured financing arrangements, between an account holder, secured party, and bank.

find out more

Notice Of Assignment Of Accounts Receivable

A Malaysian law-compliant formal notice informing debtors that receivables have been assigned to a new creditor, including payment instructions and acknowledgment requirements.

find out more

Blocked Account Control Agreement

A Malaysian law-governed agreement establishing control rights over a bank account as security, typically used in financing transactions.

find out more

Authorization Agreement For Direct Deposits

A Malaysian-compliant agreement authorizing financial institutions to process direct deposits into designated bank accounts, establishing terms for electronic fund transfers.

find out more

Security Account Control Agreement

A Malaysian law-governed agreement establishing control rights over bank accounts as collateral, creating a three-way relationship between account holder, secured party, and bank.

find out more

Deposit Account Agreement

A Malaysian law-governed agreement establishing terms and conditions for operating a deposit account with a financial institution, compliant with Malaysian banking regulations.

find out more

Margin Agreement

A Malaysian law-governed agreement establishing terms for margin trading facilities between financial institutions and clients, including collateral arrangements and regulatory compliance requirements.

find out more

Account Bank Agreement

A Malaysian law-governed agreement establishing the terms and conditions for banking services between a bank and its account holder(s).

find out more

Securities Account Control Agreement

A Malaysian law-governed tripartite agreement establishing control rights over a securities account in favor of a secured party, compliant with local securities regulations.

find out more

Account Management Agreement

A Malaysian law-governed agreement establishing terms for professional account management services and regulatory compliance.

find out more

Joint Account Agreement

A Malaysian law-governed agreement establishing the terms and conditions for operating a joint bank account between multiple account holders and a financial institution.

find out more

Account Pledge Agreement

A Malaysian law security document creating a pledge over bank accounts in favor of lenders/security agents, subject to local banking and security regulations.

find out more

Account Opening Agreement

A Malaysian law-governed agreement establishing the terms and conditions for opening and maintaining bank accounts, compliant with local banking regulations and consumer protection requirements.

find out more

Certificate Of Deposit Agreement

A Malaysian law-governed agreement establishing terms and conditions for a fixed-term deposit between a financial institution and depositor, detailing deposit amount, interest, and maturity terms.

find out more

Account Receivable Purchase Agreement

A Malaysian law-governed agreement for the sale and purchase of accounts receivable between a seller and a financial institution, establishing terms for ongoing receivables purchases.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.