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MSC 6015 ACH Debit Authorization HB 2557 Member MSC 6015 ACH Debit Authorization HB 2557 Member-2025

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The document is an ACH Debit Authorization form for members of the Oregon Educators Benefit Board (OEBB) to authorize monthly premium withdrawals from their bank accounts. It outlines the process for setting up automatic deductions, updating banking information, and revoking authorization. The form requires personal and account details, including a voided check, and explains that changes in premium amounts will be automatically adjusted without needing a new authorization.

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Versions	Form popularity	Fillable & printable
2019	4.8 Satisfied (45 Votes)
2011	4.1 Satisfied (66 Votes)

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What is a preauthorized ACH debit?

A preauthorized debit is an electronic transfer of funds, through the Automated Clearing House system, from an individuals or companys bank account to the Federal Government.

What is an ACH authorization?

An Automated Clearing House (ACH) authorization is a payment authorization that gives the lender permission to electronically take money from your bank, credit union, or prepaid card account when your payment is due. You can revoke this authorization.

Why was ACH debited from my account?

Most types of ACH fraud occur when fraudulent actors use ACH debits to transfer funds to accounts they control or can access. They do this by gaining unauthorized access to the victims banking data or by manipulating existing payment systems to send unauthorized funds to their own accounts.

What does ACH debit mean on my bank statement?

An ACH transaction is an electronic money transfer made between banks and credit unions across a network called the Automated Clearing House (ACH). ACH is used for all kinds of money transfers, including direct deposit of paychecks and monthly debits for routine payments.