For automatic payment deductions and to allow third parties to charge credit card for certain payments, a cardholder can affix signature on a formal document and present it to the third party. It grants the service providing merchant or the seller the permission to charge the credit card. The document is called the credit card authorization form template.
- 1 Credit Card Authorization Form Templates
- 2 What is a CC authorization form?
- 3 What information does the form contain?
- 4 Payment Authorization Form Templates
- 5 Types of CC authorization forms
- 6 Are credit card authorization forms safe?
- 7 Credit Card Forms
- 8 How do I fill out a credit card authorization form?
Credit Card Authorization Form Templates
A credit card authorization form template is a document that a cardholder signs to allow you as a seller to charge their credit card for an agreed-upon period of time as specified in the document.
The signed document gives you the authority to charge as needed. You should familiarize yourself with this form as you can use to charge a cardholder on a single or recurring basis.
What information does the form contain?
Remember that a credit card form for authorization is an official document. When the cardholder signs the form, this means they’re granting permission to your business to charge their credit or debit card. You may use the document for recurring charges or for a single transaction.
Having a signed document on-hand helps keep your business safe from issues like chargebacks. You can create your own credit card authorization form template for your business. For this, make sure to include the following basic elements:
- Cardholder details
This includes the full name of the cardholder, their, billing address, and contact details.
- Credit card details
This includes state the credit card type, number, security code, and expiration date.
- Your business information
This includes your business’ name, contact details, and address.
- Authorization statement
Apart from the authorization statement, you may also include the transaction type – whether recurring or single. Come up with a professional legal statement that gives you.
- Cardholder’s signature
This document only becomes valid when the cardholder affixes their signature on it along with the date when they signed. Think of this when creating the template. Therefore, you should provide space where the cardholder can affix their signature.
Payment Authorization Form Templates
Now that you see the importance of a cc authorization form, you can create a template for your own business. You also have the option to download one online. If your business accepts payments through credit card for the services you render or products you sell, you will need this template.
After creating your credit card authorization form template, you can start using it. There are various types of templates to use for your business and you could make one for each of the following:
- For Standard Debit or Credit Cards
This is the most popular, most basic template that is universally accepted. You can use it for various kinds of transactions.
- For Recurring Payments
This template is specially designed for clients who authorize recurring payments. You should include in this form all relevant details to recurring payments like the frequency of charges and the amounts.
- For One-Time Payments
You would use this template only for one-time payments. After your customer signs this form, it becomes valid for a single transaction. This is the simplest type of template and it doesn’t need plenty of information.
- For Consent and Authorization
This is very a lot like the template for standard debit or credit cards. When a customer signs this template, it gives you the permission and authority to charge their credit card. You could make this template as complex or as simple as you want to depending on your needs. Just make sure it contains all of the significant information you need.
The use of a payment authorization form template is quite safe as it protects you and your customers from any mishaps or fraud. In the case of the form, the document contains details about the credit card and you receive a copy of all the business transactions made by the customer.
Credit Card Forms
When you use a credit card authorization form or letter, it allows your business or a third party to make a single or several payments using a credit card holder’s credit card information and written consent.
The transaction can either be for a recurring or a one-time charge. If you give a customer your business’ credit card authorization form template, you may have to guide them so that they fill out the form correctly:
- Have the template ready
Your customers should have prepared their account information to fill out the form as all information must be accurately presented.
- Let your customer decide the frequency of payments
When filling up the form, the customer provides their intention of permitting your business to use one of their accounts to make payments. The customer should give this consent a clear decision of how often the payments will occur. Once this payment goes through, you cannot submit the same payment in the future using the same authorization – unless for recurring payments.
- Input other required information
Even if your form requires the same information, your customer should furnish this information. They should authorize a specific amount of money too.
- Add the billing information needed for the process of authorization
Your template should have a section with the title, “Billing Information.” This section requires basic information about the credit cardholder. They should also sign the document to make it official.
- Detail the authorized payment method
The last section of your form that requires information must have two boxes “Credit Card” and “Bank.” The customer should only fill out one of these boxes with the required information. To do this, they must first decide which account they wish to use for the payment then fill out the corresponding area.
- Provide an intent to authorize the payment information
Finally, the customer should complete the statement of acknowledgment presented in your form before you can use it for your business. The customer locates the blank space after the currency sign for the amount in the statement that starts with the words “I Understand That This Authorization…”
Also, include the penalty amount that the customer should pay every time they reject your charges, usually because of insufficient funds on their account. If the customer doesn’t see this information, they might file a complaint when they get charged.