Language in hard money ACH Form.

[Nelson Del Castillo]

Happy Holidays Everyone.... I’m currently working with a hard money lender in Connecticut to fund a deal.  On there Authorization for direct payment form, it states the following, “I authorize my bank to accept and to charge any debit entries indicated by the lender to my account”. Is this language normal? And if yes why?  It makes me uncomfortable giving any one authorization to charge any amount to my account, this just doesn’t feel right....

Any input or expiriences you’ve had with hard money lenders would be much appreciated. 

Thanks.