Direct Debits and Recurring Payments
A direct debit transaction is a transfer of funds from your account to a merchant or service provider. When you set up a Direct Debit, you provide the merchant or service provider with your BSB and Account number which allows them to draw an agreed amount of money from your account.
A recurring payment is when you give your Visa Debit Card or Visa Credit Card number (and details – expiry and CVV number) to a merchant or service provider to make regular debits from the account the card is linked to.
You should keep an eye on your account balance to ensure you have sufficient funds in your account at any given time to cover the amount of your direct debits or recurring payments
How to cancel a direct debit
To cancel your direct debit you need to advise us at least three (3) business days before the next payment is due to be made. You can do this in person in the branch or by phone. To assist you in providing us with all the relevant details we have a dedicated form for you to complete.
We will act promptly to cancel a direct debit facility linked to your transaction account once your request is received You will not be required to cancel the facility with the Direct Debit Supplier, but we may suggest that you also contact the Direct Debit Supplier.
We will ensure as far as soon as practicable that no further direct debits under your Direct Debit Request are applied to your account.
How to cancel a recurring payment
If you have a recurring payment debited from your Visa Debit Card or Visa Credit Card using the card number, you will need to contact the merchant or service provider directly to cancel the payment.
When you have a recurring payment from your Visa Debit Card or Visa Credit Card using your card number and the expiry date changes, it is your responsibility to advise the merchant or service provider of the change.