When providing banking information to Ledgers, what document must be attached?
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 Ser |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, when providing banking information, you must attach a voided check. This is to ensure that Loyalty Business Services LLC, which operates as Ledgers, has the correct banking details to initiate entries to your checking or savings accounts for transactions related to the franchise agreement.
Providing a voided check is a standard practice for setting up automatic payments or direct debits. It helps to minimize errors in the routing and account numbers, ensuring that payments are processed correctly.
The authorization remains in effect until you notify Loyalty Business Services LLC otherwise. It is important to keep a record of this notification to avoid any future discrepancies. Franchisees should ensure they understand the terms of the franchise agreement related to payments and adjustments to avoid any misunderstandings.