Regular payments

What is a direct debit?

A direct debit is an agreement or contract between a customer and a merchant (biller, supplier, service provider) that allows the merchant to debit the customer’s nominated bank account.

When you, as a customer, set up a direct debit you are setting up an agreement between yourself and the merchant. You give that merchant permission to electronically withdraw a nominated amount from your bank account on a date you request and at regular intervals. You will provide your bank account details (BSB and account number) to the merchant to allow them to debit your bank account regularly to pay for the services that they provide you.

What is a recurring payment?

Recurring payments are regular payments from your credit card account or from your debit card. This is where you give your credit card or debit card details (card number, expiry date and security code) to a merchant or supplier to allow them to charge your credit card regularly to pay for the services they provide you.

On which accounts can I set up regular payments?

Any transaction account, savings account, credit card or debit card.

For a transaction or savings account, you will nominate the bank account number you wish to use. If that bank account has a debit card attached to it, you may choose to use the debit card number.

How do I cancel a direct debit on my bank account?

You can ask us to cancel your direct debit request and we will promptly do this.

You can provide this request by phone, in writing, or via secure email in Online Banking.

Once you have requested us to cancel your direct debit, you may also wish to contact the merchant to advise them that you are seeking to cancel your direct debit.

How do I cancel a recurring payment on my debit or credit card?

To cancel a recurring payment from your debit or credit card, you should contact the merchant at least 15 days before the next scheduled payment and keep a copy of the cancellation request.

If the merchant does not act in accordance with your instructions you may be able to dispute the transaction. Disputed transactions can be completed over the phone or requested via secure email in Online Banking.

Is there an easy way to keep track of my direct debits and other regular payments?

Yes. We suggest you keep a record of any regular payments you have set up using your accounts or cards numbers. This template may help you do this:

Regular payments template

What happens to my recurring payments when I get a new card?

You will need to notify each merchant of the new card number. You may want to complete this letter template and send it off to them:

Change of account details template