Hi, Can you someone please urgently tell me what a Bank Mandate exactly is?
2007-02-21 00:15:06 · 2 answers · asked by mail_my_nou 1 in Business & Finance ➔ Other - Business & Finance
Not just referring to direct debits, rather to "The bank mandates for a certain account!"
2007-02-21 00:25:34 · update #1
I am not sure exactly what it is, but I have on here, in front of me which I am supposed to post today... so lets see.
It has been signed by all the people who are able to sign cheques (in this case the company chair, and 2 other company trustees) it has their details - address, DOB on it and from what I understand, is a legal document of sorts, stating just who is authorised to withdraw funds or sign cheques.
2007-02-21 00:24:45 · answer #1 · answered by HP 5 · 0⤊ 0⤋
Normally a bank mandate refers to a direct debit, the mandate is a form you fill out authorising a company to take direct debits from your account
2007-02-21 08:18:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋