Electronic Funds Transfer ( Eft ) Authorization Form: Fill & Download for Free

As you said you have enough knowledge of you feild but i would recommend you to enhance you knowledge via internet and having a primary and secondary research on this although you have pratical experience as u said yet its always better to do research as much as possible.There some other registration you can doOnce all the research and analysis is done its time to get registered with the various government authorities.Registration with Reserve Bank of India (RBI)Prior to 1997, it was necessary for every first time exporter to obtain IEC number from Reserve Bank of India (RBI) before engaging in any kind of export operations. But now this job is being done by DGFT.Registration with Director General of Foreign Trade (DGFT)For every first time exporter, it is necessary to get registered with the DGFT (Director General of Foreign Trade), Ministry of Commerce, Government of India.DGFT provide exporter a unique IEC Number. IEC Number is a ten digits code required for the purpose of export as well as import. No exporter is allowed to export his good abroad without IEC number.However, if the goods are exported to Nepal, or to Myanmar through Indo-Myanmar boarder or to China through Gunji, Namgaya, Shipkila or Nathula ports then it is not necessary to obtain IEC number provided the CIF value of a single consignment does not exceed Indian amount of Rs. 25, 000 /-.Application for IEC number can be submitted to the nearest regional authority of DGFT.Application form which is known as "Aayaat Niryaat Form - ANF2A" can also be submitted online at the DGFT web-site: http://dgft.gov.in.While submitting an application form for IEC number, an applicant is required to submit his PAN account number. Only one IEC is issued against a single PAN number. Apart from PAN number, an applicant is also required to submit his Current Bank Account number and Bankers Certificate.A amount of Rs 1000/- is required to submit with the application fee. This amount can be submitted in the form of a Demand Draft or payment through EFT (Electronic Fund Transfer by Nominated Bank by DGFT.Registration with Export Promotion CouncilRegistered under the Indian Company Act, Export Promotion Councils or EPC is a non-profit organisation for the promotion of various goods exported from India in international market. EPC works in close association with the Ministry of Commerce and Industry, Government of India and act as a platform for interaction between the exporting community and the government.So, it becomes important for an exporter to obtain a registration cum membership certificate (RCMC) from the EPC. An application for registration should be accompanied by a self certified copy of the IEC number. Membership fee should be paid in the form of cheque or draft after ascertaining the amount from the concerned EPC.The RCMC certificate is valid from 1st April of the licensing year in which it was issued and shall be valid for five years ending 31st March of the licensing year, unless otherwise specified.Registration with Commodity BoardsCommodity Board is registered agency designated by the Ministry of Commerce, Government of India for purposes of export-promotion and has offices in India and abroad. At present, there are five statutory Commodity Boards under the Department of Commerce. These Boards are responsible for production, development and export of tea, coffee, rubber, spices and tobacco.Registration with Income Tax AuthoritiesGoods exported out of the country are eligible for exemption from both Value Added Tax and Central Sales Tax. So, to get the benefit of tax exemption it is important for an exporter to get registered with the Tax Authorities.

cpacharge.comeChecks work the same way a check does. The process works like this: ... the payee “deposits” the Electronic Check, receives credit, and the payee's bank “clears” the eCheck to the paying bank. the paying bank validates the eCheck and then “charges” the check writer's account for the check.Accepting Payments | 4 Min ReadThe 7 Most Popular Questions (and Answers) About Electronic Checksby PaySimpleeChecks Can Help Your Business Collect Payments On Time[Has someone asked you to make an eCheck payment? Are you looking to collect eCheck payments from customers? Are you all around confused by eChecks? Don’t worry; you’re not alone.We compiled a list of the 7 most common eCheck (electronic check) questions. If you have a question you’d like answered, please submit it in the comments section at the bottom of this post.What is an eCheck?Essentially, an eCheck, or electronic check, is a form of online payment where the money is electronically withdrawn from the payer’s checking account, transferred over the ACH network, and deposited into the payee’s checking account. With an ACH merchant account, a business can withdraw payments for a good or service directly from their customer’s bank account. The payment must be authorized by the customer, either by signed contract, acceptance of a website’s “Terms and Conditions” or a recorded voice conversation.How Does Electronic Check Processing Work?Electronic check processing is somewhat similar to paper check processing, only faster. Instead of a customer manually filling out a paper check and sending it to the business they need to pay, today’s technology allows the process to happen electronically, saving both times as well as paper waste.4 main steps to processing an electronic check:1. Request Authorization: The business needs to gain authorization from the customer to make the transaction. This can be done via an online payment form, signed order form, or phone conversation.2. Payment Set-Up: After authorization is complete, the business inputs the payment information into the online payment processing software. If it is a recurring payment, this information also includes the details of the recurring schedule.3. Finalize and Submit: Once payment information is properly entered into the software, the business clicks “Save” or “Submit” and starts the ACH transaction process.4. Payment Confirmation and Funds Deposited: The payment is automatically withdrawn from the customer’s bank account, the online software sends a payment receipt to the customer, and the payment itself is deposited into the business’s bank account. Funds are typically deposited into the merchant’s bank account three to five business days after the ACH transaction is initiated.How are you accepting payments?Learn all the ways to accept online paymentsClick here to access the FREE [Cheat-Sheet]Do ACH and EFT mean the same as eCheck?EFT stands for “Electronic Funds Transfer.”This all-encompassing term includes many types of financial transfers:Wire transfersDirect depositsElectronic benefits paymentsACH disbursements etc.ACH stands for “Automated Clearing House.”This is the electronic network used by financial institutions in the United States that provides the infrastructure used by payment processing companies.The best way to explain the similarities and differences of ACH, EFT and eCheck is that an eCheck is a type of electronic funds transfer (EFT) that uses the Automated Clearing House (ACH) network to process the payment. The money is electronically withdrawn from the payer’s account, sent via the ACH network to the payee’s banking institution, and then electronically deposited into the payee’s account – similar to a paper check, just electronically.What Types of Payments Can You Make with eChecks?Since merchants pay a smaller fee to process eCheck payments than they do to process credit card payments, it’s popular to accept eCheck payments for high-cost items such as rent, mortgage or car payments, and high-cost monthly fees such as legal retainers and fitness memberships.Can checks be Used for Recurring Payments?eChecks are actually one of the most popular types of recurring payments. You might have also heard of the term “recurring ACH payment” which is the same as a recurring eCheck payment. Property managers will often ask tenants to fill out a recurring eCheck rent payment form, giving them the ability to automatically deduct rent from their tenant’s checking account on a certain day each month.How Long Does it Take to Clear and Process an Electronic Check (eCheck)?The eCheck clearing process varies slightly between providers. Generally, funds are verified within 24 to 48 hours of the transaction being initiated. Should the payer have the funds available in their checking/bank account, the transaction is cleared within 3 to 5 business days and the funds are moved from the payer’s account to the payee’s account.How Do I Send an eCheck Payment?In order to send an electronic payment, the person to whom you are sending the payment needs to have an ACH merchant account. This merchant account gives them the ability to use the ACH network to accept payments via electronic funds transfer.Two ways you can send an eCheck payment:1. The payee sends you an online payment form where you fill in your checking account number and routing number, as well as the amount of payment. By clicking “Submit” you are authorizing the payee to withdraw the payment amount from your checking account.2. By making a call on a recorded phone line, the payee can ask for your checking account and routing numbers. They input these numbers, as well as the payment amount, into the online payment terminal. Upon clicking “Process” the payment will be deducted from the payer’s bank account and deposited into the payee’s bank account.How Much Does it Cost to Process an eCheck?The providers of eCheck merchant accounts charge different fees to process an eCheck. Some eCheck processing companies charge a higher per-transaction fee and a lower monthly fee, while others charge the opposite. The average fee ranges from $0.30 to $1.50 per eCheck transaction.How Does a Business get an eCheck Merchant Account?Signing up for an eCheck or ACH merchant account is similar to getting a credit card merchant account. Once a business has found a best-fit merchant account provider, the business will need to provide information including:Federal Tax IDYears in businessEstimated processing volumesThis will be entered into an application for approval by the payment processor or merchant account provider. Approval can happen in a matter of days.]

The most beneficial way to pay your bills depends on your definition of beneficial. Here is a quick review of the three payment options you mentioned and possible benefits as well as takeaways.Checking Account - If you make a payment from your checking account also known as EFT (electronic funds transfer) you are authorizing a merchant to electronically remove money from your bank account. You can often times set up monthly bills on recurring drafts. This form of payment is similar to an actual paper check from an accounting and legal standpoint. Recurring monthly EFT payment method will often accompany lower service charges and processing fees from the merchants and eliminates the possibility of late payment fees or negative payment history. A negative aspect to this payment method is that a transaction can be re-presented one or more times if the funds are not available the first time the transaction is attempted. A re-presentment is when a payment is requested from your bank again after funds are unavailable and usually happens 3-5 days after the first attempt. This is legal and your bank assists merchants in this process.Savings Account - A payment from your savings account is processed exactly the same as a payment made from a checking account. Something to consider is that many banks do not offer over overdraft protection for a savings account.Credit Card - If you make a payment using your credit card there are a few things to consider. When a credit card payment is processed an authorization is sent to your credit card company immediately and then the deposit transaction is processed usually within 24 hours. This sometimes results in a pending transaction and the actual transaction appearing together on your account until the authorization "falls off" the in 3 to 5 days. Depending on your credit card you may also incur interest for the balance. The benefits to using a credit card are that you can dispute transactions very easily with most credit cards and if your information is compromised it is much easier to get a new credit card than a new bank account. Keep in mind, every merchant is charged a fee to process a credit card payment so this cost may be passed on to you.I hope that this information is helpful and my personal choice would be to use my checking account with reputable businesses to set up monthly automatic EFT payments if you are a responsible budget keeper. Companies almost always pass on a savings for using this method when accompanied with paperless billing options.