The Direct Credit Authorisation Form is a essential banking document used in the Nigerian financial system to facilitate automated credit transfers between accounts. This form is typically used when setting up recurring payments, salary transfers, vendor payments, or any regular financial transactions that require automated processing. The document must comply with Central Bank of Nigeria (CBN) regulations and includes comprehensive details about the account holder, beneficiary, payment instructions, and authorization parameters. It serves as a formal instruction to the bank and provides legal protection for all parties involved in the transaction. The form is designed to accommodate both individual and corporate users, with additional sections for corporate authorizations when required. Its implementation helps streamline payment processes while ensuring regulatory compliance and proper documentation of payment arrangements within the Nigerian banking sector.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Account Holder Information: Personal/business details of the account holder including full name, contact information, and any required identification numbers
2. Bank Account Details: Account holder's bank details including account number, bank name, branch, and BVN (Bank Verification Number)
3. Payment Instructions: Details of the direct credit arrangement including purpose, frequency, and amount of transfers
4. Beneficiary Details: Information about the receiving party including their bank account details and purpose of payment
5. Authorization Declaration: Formal authorization statement and confirmation of terms and conditions
6. Signature Section: Space for account holder's signature, date, and any required witness signatures
1. Joint Account Details: Additional section required when the account is jointly held, including details and signatures of all account holders
2. Corporate Authorization: Required for business accounts, including details of authorized signatories and company resolution references
3. Variable Payment Instructions: Required when payment amounts may vary, including maximum limits and variation terms
4. Third Party Authorization: Required when someone other than the account holder is authorized to manage the direct credit arrangement
1. Terms and Conditions: Standard terms and conditions governing the direct credit arrangement
2. Fee Schedule: Breakdown of any applicable fees and charges
3. Payment Schedule: Detailed schedule of payment dates and amounts if following a specific pattern
4. Required Documentation Checklist: List of supporting documents required for processing the direct credit authorization
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Retail
Manufacturing
Education
Healthcare
Technology
Real Estate
Insurance
Telecommunications
Public Sector
Non-Profit Organizations
Relevant Teams
Finance
Accounts Payable
Treasury
Payroll
Human Resources
Procurement
Banking Operations
Compliance
Customer Service
Administration
Legal
Relevant Roles
Finance Manager
Accounts Payable Manager
Treasury Manager
Payroll Manager
Financial Controller
Banking Operations Manager
Compliance Officer
Account Relationship Manager
Human Resources Manager
Procurement Manager
Chief Financial Officer
Banking Officer
Company Secretary
Administrative Manager
Find the exact document you need
Term Deposit Account Opening Form
A Nigerian-compliant banking form for opening term deposit accounts, meeting CBN regulations and BOFIA 2020 requirements.
Download
Security Deposit Refund Agreement
A Nigerian law-governed agreement that documents the terms and process for refunding a security deposit between landlord and tenant, including deductions and payment terms.
Download
Deposit Account Opening Form
A Nigerian regulatory-compliant form for establishing a banking relationship and opening a deposit account, subject to CBN guidelines and Nigerian banking laws.
Download
Security Deposit Letter
A formal Nigerian financial document establishing terms and conditions for holding and releasing a security deposit, governed by Nigerian banking and financial regulations.
Download
Security Refund Letter
A formal Nigerian business document authorizing the return of a security deposit, including payment details and authorizations.
Download
Direct Withdrawal Form
A Nigerian banking document that authorizes automatic withdrawals from an account holder's bank account, compliant with CBN regulations.
Download
Earnest Money Receipt
A Nigerian legal document acknowledging receipt of earnest money in a property transaction, serving as proof of the buyer's intention to purchase.
Download
Term Deposit Form
A Nigerian banking form for establishing fixed-term deposit accounts, governed by BOFIA 2020 and CBN regulations.
Download
Recurring Deposit Form
A Nigerian banking form for establishing a recurring deposit account, outlining deposit terms, conditions, and regulatory compliance requirements under Nigerian law.
Download
Paycheck Direct Deposit Form
A Nigerian-compliant form authorizing employers to deposit employee salaries directly into designated bank accounts, adhering to Central Bank of Nigeria regulations.
Download
Money Deposit Form
A Nigerian-compliant banking form for processing and documenting deposits, adhering to local banking and AML regulations.
Download
Letter Of Direct Deposit
A Nigerian banking document that authorizes automatic electronic deposits into a specified bank account, complying with CBN regulations.
Download
Fixed Deposit Receipt
A Nigerian banking document evidencing a time deposit, detailing deposit amount, interest rate, and term duration under BOFIA 2020 regulations.
Download
Fixed Deposit Application Form
A Nigerian banking form for opening and managing fixed deposit accounts, compliant with CBN regulations and BOFIA 2020.
Download
Direct Deposit Form
A Nigerian-compliant form authorizing automatic electronic deposit of payments into an employee's designated bank account.
Download
Vendor Direct Deposit Form
A Nigerian-compliant form for establishing direct deposit payment arrangements with vendors, adhering to Central Bank of Nigeria regulations and data protection requirements.
Download
Security Deposit Return Form
A Nigerian legal document formalizing the return of a security deposit from landlord to tenant, including deposit details and deductions in compliance with Nigerian property law.
Download
Security Deposit Agreement Form
A Nigerian law-governed agreement establishing terms for handling and managing security deposits between landlords and tenants.
Download
Landlord Demand Letter For Damages
A formal demand letter used in Nigerian jurisdiction by landlords to claim compensation for property damages from tenants, serving as a pre-litigation document.
Download
Escrow Letter For Deposit
A Nigerian law-governed letter document establishing the terms and conditions for an escrow deposit arrangement between parties, including deposit and release conditions.
Download
Direct Deposit Request Form
A Nigerian-compliant banking form authorizing employers to automatically deposit payments into an employee's designated bank account.
Download
Direct Deposit Form Employer
A Nigerian-compliant authorization form enabling employers to process electronic salary payments directly to employee bank accounts.
Download
Deposit Request Form
A regulated Nigerian banking form for processing deposit transactions and capturing customer information in compliance with local banking laws.
Download
Deposit Refund Form
A Nigerian-compliant form for requesting deposit refunds from financial institutions, structured according to CBN regulations and banking laws.
Download
Depositor Account Title Direct Deposit Form
A Nigerian-compliant banking form authorizing automatic deposits into a designated bank account, subject to CBN regulations and BOFIA 2020.
Download
Current Direct Deposit Form
A Nigerian-compliant form for establishing automated electronic deposits into designated bank accounts, meeting Central Bank of Nigeria requirements for direct deposit arrangements.
Download
Direct Deposit Form Voided Check
A Nigerian-compliant banking form for setting up automatic salary deposits, requiring banking details and a voided check for verification.
Download
Security Deposit Disposition Form
A Nigerian legal document detailing the disposition of a tenant's security deposit, including deductions and final settlement amounts, in compliance with federal and state property laws.
Download
Generic Direct Deposit Form
A Nigerian-compliant form for setting up direct deposit arrangements, including account details and payment authorization under CBN regulations.
Download
Vendor Direct Deposit Authorization Form
A Nigerian-compliant authorization form for setting up direct deposit payments between companies and their vendors, adhering to CBN regulations.
Download
Direct Deposit Receipt
A Nigerian banking document that provides official proof of deposit into a bank account, compliant with CBN regulations and BOFIA 2020.
Download
Employee Direct Deposit Enrollment Form
A Nigerian-compliant form for setting up employee salary payments via direct deposit, including bank details and payment authorization.
Download
Earnest Money Deposit Form
A Nigerian legal document formalizing earnest money deposits in property transactions, outlining deposit terms and conditions under Nigerian law.
Download
Residential Lease Rental Agreement And Deposit Receipt
A Nigerian law-compliant residential lease agreement establishing terms for property rental and security deposit, conforming to federal and state tenancy regulations.
Download
Fixed Deposit Letter
A Nigerian bank-issued document confirming fixed deposit terms and conditions, governed by Nigerian banking laws and Central Bank regulations.
Download
Bank Direct Deposit Form
A Nigerian-compliant form authorizing automatic deposit of funds from employers to employees' bank accounts, adhering to local banking regulations and CBN guidelines.
Download
Rental Agreement And Deposit Receipt
A Nigerian law-compliant document combining a rental agreement with deposit acknowledgment, establishing rental terms and documenting security deposit payment.
Download
Bank Deposit Letter
A formal Nigerian banking document confirming deposit terms and conditions between a bank and depositor, governed by Nigerian banking laws and CBN regulations.
Download
Direct Credit Authorisation Form
A Nigerian banking form authorizing automatic credit transfers from an account holder's account to designated beneficiary accounts, compliant with CBN regulations.
Download
Demand Letter To Tenant For Damages
A formal demand letter used in Nigeria to seek compensation from tenants for property damages, compliant with Nigerian tenancy laws and regulations.
Download
ұԾ’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; ұԾ’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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)