As a customer, the possibility to have us debit your customer’s Aruba Bank account - directly and in a recurring manner - is possible, taking into account that certain requirements are met. The direct debit can help you maximize your accounts receivables and facilitate your collection process.
The Direct Debit Service provides the possibility for a corporate client to debit account of a retail account holder of Aruba Bank through a Power of Attorney that has been signed by concerned parties. So it’s an authorization from the Debtor (a retail client) to the Agent (a corporate client) with which the Agent can repeatedly instruct the Bank to debit the Debtor’s account and credit the Agent’s account for the amount of the invoices concerning goods or services provided by the Agent to its Debtors or affiliated parties.
- Eligible candidates for this service are companies with a “proper administration” that includes, but is not limited to, yearly submission of financial statements from a reputable accounting firm.
- Acceptance is based upon bank’s discretion
- Every direct debit instruction is accompanied with an instruction letter, confirming that the list of debtor is complete and correct:
1. Power of Attorney of all attached debtors, are in place and are duly administered;
2. Account number and name of the debtors have been verified based on bank statement information.
- Client has signed the Direct Debit Service agreement
- Limited costs apply.
Corporate Customer ServicesAccount and service information just a phone call away.
For questions regarding your account, deposits and other information, just call:
During business hours (8:00am to 4:30pm):
Aruba Bank Contact Center: (+297) 527-7777
For questions regarding the product features, please call:
Aruba Bank Corporate Customer Services: (+297) 527-7774
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