Does Ledgers specify a particular format for providing the banking information?
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 provides a specific format for franchisees to submit their banking information. The document includes a table with fields for the company name, name of financial institution, address of the financial institution, routing number, and account number.
In addition to filling out these fields, Ledgers requires the franchisee to attach a voided check. The franchisee must also sign and date the form, providing their printed name, title (if any), telephone number, and applicant's address. By signing, the franchisee authorizes Loyalty Business Services LLC to initiate entries to their checking or savings accounts, as well as adjustments for any transactions credited in error, in accordance with the terms of the franchise agreement.
This authorization remains in effect until the franchisee provides written notice to Loyalty Business Services LLC to cancel it, allowing a reasonable opportunity for the company to act on the instructions. The franchisee retains the right to stop payment of any entry by notifying the financial institution at least three days before the scheduled charge. Furthermore, the franchisee can have the amount of an erroneous charge immediately credited to their account within specified timeframes following the issuance of their statement or the deposit date.