What document should be attached to ensure a Circle K account is properly debited for EFT?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
| NOTE: PLEASE ATTACH A VOIDED CHECK FOR THE REFERENCED ACCOUNT | | IN ORDER TO ENSURE YOUR ACCOUNT IS PROPERLY AND ACCURATELY | | DEBITED. |
Source: Item 23 — RECEIPTS (FDD pages 100–359)
What This Means (2025 FDD)
According to Circle K's 2025 Franchise Disclosure Document, to ensure a Circle K account is properly and accurately debited, a voided check for the referenced account should be attached. This is to provide the necessary banking information for electronic fund transfers (EFT).
Circle K requires franchisees to pay certain fees and amounts via EFT, making the correct setup of this debit process crucial. By attaching a voided check, the franchisee provides Circle K with the precise bank account details needed to initiate these transfers. This reduces the risk of errors in the routing or account numbers, which could lead to failed payments and potential penalties.
It is important to note that if an EFT transaction is rejected due to insufficient funds, Circle K may charge an insufficient funds fee of $50. Therefore, franchisees must maintain sufficient funds in their account to cover these transactions. Providing the correct banking information via a voided check is a key step in ensuring smooth and timely payments to Circle K, avoiding potential disruptions and additional costs.