Automated Clearing House Authorization Form

I understand and agree that the bank will initiate a one-time ACH debit on my Account at the financial institution I designated for the amount I authorized. Once the Account has been debited, the bank will credit its service provider's transfer account at the service provider's clearing bank. After the service provider and/or its clearing bank are reasonably certain that the debit will not be returned (usually 3-4 banking days), the service provider will credit my Account at this bank. The sole purpose for the service provider's transfer account is to complete my funds transfer request and perform the services within the scope of this Agreement. If the debit side fails or is returned for any reason and the credit side has been released and cannot be collected, I authorize the service provider to collect from the Account to which the credit side of the funds transfer was sent.