What information about the financial institution does Ledgers require?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Please complete the following with your banking information and attach a voided check: | |
|---|---|
| Company Name: | |
| Name of Financial Institution: | |
| Address of Financial Institution: | |
| Routing Number: | |
| Account Number:_ | |
| I hereby authorize Loyalty Business Services LLC and the financial institution named above to initiate entries to my checking or savings accounts as identified above in accordance with the terms of my franchise agreement and, if necessary, to initiate adjustments for any transactions credited in error. This authority will remain in effect until I notify Loyalty Business Services LLC in writing to cancel it in such time as to afford a reasonable opportunity to act on such instructions. I can stop payment of any entry by notifying the above-named financial institution at least three (3) my account is scheduled to be charged. I can have the amount of an erroneous charge immediately credited to my account for up to fifteen (15) days following issuance of my statement by the above-referenced financial institution or up to sixty (60) days after deposit, whichever occurs first. | or the above-named financial institution days before |
| Signature: | |
| Printed Name of Person Signing: | |
| Title (if any): | |
| Application Date: | |
| Telephone Number: | |
| Applicant's Address: | |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Ledgers requires franchisees to provide specific banking information to authorize Loyalty Business Services LLC to initiate entries to the franchisee's checking or savings accounts. This authorization is for transactions related to the franchise agreement and to correct any errors.
The required information includes the name and address of the financial institution, the routing number, and the account number. Franchisees must also attach a voided check. The authorization remains in effect until the franchisee cancels it in writing, providing Loyalty Business Services LLC with reasonable time to act on the cancellation.
Additionally, the franchisee has the right to stop payment of any entry by notifying the financial institution at least three days before the scheduled charge. They can also have erroneous charges credited back to their account within specific timeframes: up to fifteen days following the issuance of the account statement or up to sixty days after the deposit, whichever comes first. The franchisee must also provide their company name, signature, printed name, title (if any), application date, telephone number, and applicant's address.