9.1.Si you wish to notify us of anything relating to this Agreement, you must: You should check your bank statement to ensure that the amounts debited from your account are correct. A DDR form and DDR service contract are required to automatically deduct payments from your customers` bank accounts. Documents: By submitting a direct debit request, you have authorized us to debit your account. The Direct Debit Application and this Agreement set forth the terms of the agreement between us and you. The DDR service contract is the document you need to provide to your customers along with the DDR form. It defines the conditions under which you debit a customer`s bank account. If the debit day falls on a day that is not a banking business day, we may ask your financial institution to debit your account on the next business day. If you are unsure of which day your account was or will be debited, you should contact your financial institution. (a) your financial institution may charge you fees and/or interest; (b) We may charge you reasonable fees incurred by us due to insufficient funds; and (c) you must ensure that payment of fees is made by other means or that there are sufficient free funds in your account at an agreed time for us to process payment of fees. Upon receipt of your completed Direct Debit Request Form: Direct Debit Service Agreement The Direct Debit service is an optional service that allows you to set up regular investments in your account from accounts operated by certain other licensed financial institutions that facilitate the processing of withdrawals.
The DDR form is used to collect details about the bank account your customer wants to debit. It also determines when and how much is debited from the customer`s bank account. 5.4. Any questions you have regarding a debit error in your account should first be directed to us so that we can try to resolve the issue between us and you. If we are unable to resolve the issue, you can always refer it to your financial institution, which will receive the details of the disputed transaction from you and can make a claim on your behalf. You must ensure that (a) the financial institution specified in the RFI accepts withdrawals for the account specified in the RFI and acts accordingly (direct debit via the electronic mass clearing system may not be available on all accounts, so if you are unsure, you should check with your financial institution) and (b) the account details provided in the RFI are correct (for example, compared to a recent statement from your or verification of these directly with your financial institution). Do you operate a gym, offer software as a service, or operate another subscription business? If so, you probably have a direct debit. If not, you`ll probably want to create one. When setting up a direct debit system, it is legally mandatory that you obtain the consent of your customers to automatically debit money from their account.
This includes the provision of a Direct Debit Request (RFI) form and a DDR service contract. The Australian Payments Clearing Association (APCA) has specific rules on what your DDR form and DDR service contract must contain. 7.2.3. To the Bank, if such information is to be provided in the event of a complaint or in connection with an allegedly erroneous or illegal debit. About LegalVision: LegalVision is a technology-driven, full-service commercial law firm that uses technology to deliver a faster, better and more cost-effective client experience. We or we are Red Nose who have authorized you to debit your account by signing a direct debit request. This article discusses both the DDR form and the DDR service contract. It also explains how you can make sure you follow the API rules.
Your financial institution is the financial institution with which you hold the account you have authorized us to bill. We will confirm to you in writing the details of your direct debit agreement, including the amount of the deduction, frequency and start date, within 14 days of setting up or changing your agreement in our system. If a debit from the RDA account is to be made on a day other than a business day, the debit will be made on the next business day. If you are not sure when a direct debit will be processed, you should check with your financial institution. A “business day” is a day when Melbourne`s banks and financial institutions are usually open. If you have made any changes to your account and have any other matters related to this Pre-Authorized Debit Agreement, including delay, stoppage, cancellation or changes, please contact Square Support. Please allow 7 days for the changes to take effect. You can also contact your financial institution to stop a direct debit or cancel the RFI. If we or our funding partners make changes to this Direct Debit Agreement, we will notify you at least 14 days prior to such change. You must also specify either on the DDR form or in the DDR service contract: 5.1.
If you believe that there has been an error in the billing of your account, you must notify us directly on 1300 484 480 and confirm this notice in writing with us as soon as possible so that we can respond promptly to your request. Compliance with API guidelines is required by law to arrange direct debits with your clients. If you need help setting up a DDR system or advice on your DDR form and DDR service contract, call LegalVision`s business lawyers on 1300 544 755 or fill out the form on this page. 7.1. We will keep confidential all information (including your account details) contained in your direct debit request. If you pay by Bpay or direct loan, you must call us on 1800 990 107 to ® obtain a reference number. Payment by direct debit requires signatures to accept the Section I Direct Debit Service Agreement.