Bank Drafts: A Simple Guide to Automated Payments

A bank draft form sets up an automatic payment schedule.

A bank draft allows you to make payments of bills and donations automatically by filling out a simple form. The organization you are paying will then withdraw funds from your bank account regularly. Depending on the type of payment, you may be able to choose between paying a certain amount or paying the entire amount of your bill, however much it is. Using a bank draft is usually free, so you may be saving on postage and check expenses.

Step 1

Request a blank bank draft form from the organization you want to pay. Organizations that offer bank draft as a method of payment usually have a standard bank draft form.

Step 2

Write your name in the appropriate field on the form as it appears on your bill. Write your customer number, if applicable.

Step 3

Enter your contact details, such as your email and phone number, if requested by the form.

Step 4

Write your bank account details on the bank draft form. You usually have to include the name of your bank, the type of your bank account, your name as it appears on your bank account statements and your bank account number. You may also have to provide the bank's details, such as phone number, address and transit number.

Step 5

Choose the length of time during which you want to continue making payments by bank draft, if required by the form. Bank draft forms for bill payments usually don't include this field, but you may have to complete this field if you are making a donation by bank draft.

Step 6

Sign and date the bank draft form in the appropriate fields.

Step 7

Write "VOID" across a check related to the bank account from which you want to draft.

Step 8

Mail the completed bank draft form and the voided check to the organization you wish to pay. Depending on the organization, you may also be able to submit the documents in person.

Things You'll Need

• Bank draft form

• Check