Direct Debit Terms and Conditions

CONDITIONS OF THIS AUTHORITY TO ACCEPT DIRECT DEBITS

The Initiator

  • a) Will not initiate a direct debit on my/our account unless authorisation is received from me/us in accordance with the terms and conditions agreed between me/us and the Initiator of each amount to be debited from my/our account.
  • b) Has agreed to send notice of the net amount of each Direct Debit and the due date of debiting after receiving authorisation from me/us under clause1 (a) but no later than the date the Direct Debit will be initiated. This notice must be provided in writing (including by electronic means and SMS where the Customer has provided prior written consent (including by electronic means and SMS) to communicate electronically) The notice will include the following message:- "The amount $....., was direct debited to your Bank account on (initiating date)."

OR

  • a) Has agreed to give advance notice of the net amount of each Direct Debit and the due date of the debiting at least 10 calendar days (but not more than 2 calendar months) before the date when the Direct Debit will be initiated. This notice will be provided in writing (including by electronic means and SMS where the customer has provided prior written consent (including by electronic means and SMS) to communicate electronically): The advance notice will include the following message:- "Unless advice to the contrary is received from you by (date*), the amount of $..., will be directly debited to your Bank account on (initiating date)."
  • b) May, upon the relationship which gave rise to this Instruction being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Instruction. Upon receipt of such notice the Bank may terminate this Instruction as to future payments by notice in writing to me/us.
  • c) May, upon receiving written notice (dated after the date of this instruction) from a Bank to which I/we have transferred my/our bank account, initiate Direct Debits in reliance of that written notice and this Instruction from the account identified in the written notice.

The customer may:

  • a) At any time, terminate this Instruction as to future payments by giving notice of termination to the Bank and to the Initiator by the means agreed by the customer, Bank and Initiator.
  • b) Stop payment of any Direct Debit to be initiated under this Instruction by giving written notice to the Bank prior to the Direct Debit being paid by the Bank.
  • c) Where a variation to the amount agreed between the Initiator and the Customer from time to time to be Direct Debited has been made without notice being given in terms of clause 1(a) above, request the Bank to reverse or alter any such Direct Debit initiated by the Initiator by debiting the amount of the reversal or alteration of a Direct Debit back to the Initiator through the Initiator's Bank PROVIDED such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account

The Customer acknowledges that:

  • a) This Instruction will remain in full force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this Instruction until actual notice of such event is received by the Bank.
  • b) In any event this Instruction is subject to any arrangement now or hereafter existing between me/us and the bank in relation to my/our account.
  • c) Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the Bank except in so far as the Direct Debit has not been paid in accordance with this Instruction. Any other disputes lie between me/us and the Initiator.
  • d) Where the Bank has used reasonable care and skill in acting in accordance with this Instruction, the Bank accepts no responsibility or liability in respect of:
  1. The accuracy of information about Direct Debits on Bank statements
  2. Any variations between notices given by the Initiator and the amounts of Direct Debits
  • e) The Bank is not responsible for, or under any liability in respect of the Initiator's failure to give notice in accordance with 1(a) nor the non-receipt of notice by me/us for any reason whatsoever. In any such situation the dispute lies between me/us and the Initiator.

The Bank may:

  • a) In its absolute discretion conclusively determine the order of priority payment by it of any monies pursuant to this or any other Instruction, cheque or draft properly signed by me/us and given to or drawn on the Bank.
  • b) At any time terminate this Instruction as to future payments by notice in writing to me/us.
  • c) Charge its current fees for this service from time-to-time.