You can now benefit from the direct debit service through the (ACH) system

Housing Bank offers direct debit authorization services in collaboration with the Central Bank. This service enables individual customers to pay their monthly obligations to the companies they deal with. The process involves the debtor (individual) and the creditor (companies) agreeing and signing two copies of the direct debit authorization form. This form instructs the debtor’s bank to make specific monthly payments to the creditor. The debtor then submits their copy to their bank, which processes it through the ACH system of their bank for acceptance or rejection. Once accepted by the debtor's bank, the payments are automatically transferred on the due dates through the system, provided that there are sufficient funds in the debtor’s account to cover the monthly transfer amount.

Benefits:

This service is an automated alternative to dealing with post-dated checks and cash payments:

1. Payments are deducted on a monthly basis
2. This authorization is irrevocable and cannot be stopped except with the beneficiary's consent
3. This authorization specifies both total and individual transaction amounts, as well as the start and end dates of the authorization

To benefit from this service, the following conditions must be met:

1. Completion and Signing: Both parties (the payer and the beneficiary) must fill out and sign the direct debit authorization form after reviewing all its details and terms and conditions included. One copy of this form must then be submitted to the beneficiary’s bank
2. Monthly Transfers: Transfers under this service are made on a monthly basis only
3. Payer Requirements: The payer must be an individual and of Jordanian nationality
4. Beneficiary Requirements: The beneficiary must be a merchant or company only
5. Signature Requirement: Both parties benefiting from the service (the payer and the beneficiary) must sign the form
6. Currency: The authorization currency is in Jordanian Dinars only.
7. Timing of Authorization: When submitting the authorization to the beneficiary’s bank, the date of the first or last payment must be scheduled at least 10 working days from the start or end date of the authorization