It’s okay to authorize customer field service firms to initiate automatic deposits to your checking or other financial accounts. I would NOT authorize any customer field services firm to make any withdrawals from any of your financial accounts. Many of the national mortgage field service firms like to pay games. You do NOT want them playing direct deposit withdrawal games.
Here is what one inspector with many years of experience says about authorized withdrawals. “Oh my. I never sign the paperwork a company sends out with regards to direct deposit payments. Our bank has their own form. I obtained a copy of the bank’s form. I send that to all clients wishing to utilize direct deposit. It authorizes direct deposit payments. It does NOT authorize direct withdrawal checks. Handing withdrawal authority over to any client is hogwash. If they have a problem, they need to pick up the phone and call to discuss it. There have been numerous occasions over the years where a client has inadvertently overpaid us, even a few times where we were paid someone else’s money. Our company has always been more than happy to return over-payments or payments in error. That is what businesses do.”
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