What bank details are required on the Crave ACH form?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
By executing this Agreement, you agree that we shall have the right to withdraw funds from your designated bank account by electronic funds transfer ("EFT") in the amount of the Royalty Fee, Brand Development Fee, and any other payments due to us and/or our affiliates. If you do not provide the Royalty Report when required, we may debit your account for one hundred twenty percent (120%) of the last Royalty Fee and Brand Development Fee (if applicable) that we debited. If the Royalty Fee and Brand Development Fee we debit are less than the Royalty Fee and Brand Development Fee you actually owe to us, once we have been able to determine the Franchised Business' true and correct Gross Sales, we will debit your account for the balance on a day we specify. If the Royalty Fee and Brand Development Fee we debit are greater than the Royalty Fee and Brand Development Fee you actually owe, we will credit the excess against the amount we otherwise would debit from your account during the following week. You shall, upon execution of this Agreement or at any time thereafter at our request, execute such documents or forms as we or your bank determine are necessary for usto process EFTsfrom your designated bank account for the payments due hereunder. If payments are not received when due, interest may be charged by us in accordance with Section 4.5 below. Upon written notice to you, you may be required to pay such fees directly to us in lieu of EFT, at our sole discretion.
4.5 Interest on Overdue Amounts
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, franchisees must complete an ACH form to allow Crave to withdraw funds electronically for Royalty Fees, Brand Development Fees, and any other payments due. The ACH form requires the franchisee to designate whether the account is a checking or savings account.
This authorization allows Crave to directly debit the franchisee's account for fees owed. If a franchisee fails to submit the required Royalty Report, Crave can debit the account for 120% of the previous Royalty Fee and Brand Development Fee. Adjustments will be made if the debited amount differs from the actual amount owed once the true Gross Sales are determined.
Prospective Crave franchisees should understand that signing the ACH form grants Crave significant control over their bank account for the purpose of collecting fees. Franchisees should ensure they understand the reporting requirements and fee structure to avoid discrepancies and potential over-debiting of their account. Franchisees should also clarify with their bank what documentation or forms are needed to process EFTs for payments due to Crave.