Deposit Agreement Template

A deposit agreement is of many types. One of the most common remain the direct deposit agreement which allows a company or organization the right to directly deposit cash or credit to another account. The agreement must be written with full understanding of the legal and other implications. The template must provide a suitable layout for the document.

Sample Deposit Agreement Template

[Name of company]

Direct Deposit Agreement

Agreement of Authorization

I hereby entitle and grant power to ________________ [name of company] to make automatic direct deposits to my account _____________ [nature and number of account] in the bank ________________ [name of bank]. I also entitle it to make withdrawals from the same account in case an error is made while crediting an amount to this account.

I shall not hold the company mentioned above in case there is an error on my part in supplying information. In case of any error or delay on my part, the company shall be exempt from reparations and absolved of all responsibilities to that effect.

This direct deposit agreement shall be valid till ________________ [dd/mm/yy]. After the date of termination, the company shall not be permitted to make or withdraw credit/withdrawals from the account mentioned above. However the agreement may be extended before the date of termination after revising the contract.

Information of Account

Name of Bank
Account Number:
Account Type: Current  Savings 
Signature 1:
Signature 2:

Please retain a copy of this agreement for future use. In case of any queries please contact _________________________ [mention relevant contact details]

Category: Agreement Templates

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