This agreement sets out the terms of the direct debit arrangement between you and AMP Bank Limited (User ID No. 037432). This agreement is made up of the terms below and your direct debit request.
Debiting your account
By submitting a direct debit request, you have authorised us to arrange for funds to be debited from your account you have already nominated on the terms of this agreement. We will only arrange for funds to be debited from your account as authorised in the direct debit request.
Changes we can make to this agreement
We may vary this agreement or a direct debit request or cancel a direct debit request, at any time. We’ll give you at least 14 days written notice of any change and otherwise as required by an applicable law or code.
How you can make changes to your direct debit arrangement
Please contact us by phone on 13 30 30, fax, email or mail at least three business days before the next payment date if you want to:
- change your direct debit request, e.g. the amount you pay, how often you pay or deferring payment due to unforeseen circumstances
- change your nominated account details
- cancel or suspend the direct debit request
- change, stop or defer an individual payment.
Requests to stop or cancel direct debits may also be made to your financial institution directly.
Disputing a direct debit
You should check your account statement to verify that the amounts debited from your account are correct.
You can dispute an amount we’ve debited from your account by contacting us directly at info@ampbanking.com.au or on 13 30 30, Monday to Friday (8am to 8pm) or Saturday and Sunday (9am to 5pm), Sydney time. We will respond to you within five business days (disputes involving transactions over one year old may take longer to resolve).
You can also contact your financial institution for assistance with disputed direct debits.
If we conclude your account has been incorrectly debited, we’ll arrange for your financial institution to make the necessary adjustment to your account (including interest and charges). We’ll notify you in writing of the amount of the adjustment.
If we conclude your account has not been incorrectly debited, we’ll write to you with the reasons and evidence for our finding.
Payments due on a non-business day
If a payment date is on a weekend or public holiday in Sydney, we will process your payment on the next Business Day. If you are uncertain as to when the debit will be processed to your nominated account, you should contact your financial institution directly.
You need to maintain sufficient clear funds in your account
It’s your responsibility to make sure sufficient cleared funds are available in your nominated account on the payment date. If there are insufficient funds to cover the payment and your financial institution dishonours the payment:
- you may be charged a fee and interest by the paying financial institution
- any charges we incur may be debited from your account and an inward dishonour fee may apply
- you must arrange for payment of that amount to be made by another method or for sufficient funds to be in your account by an agreed time so we can process the direct debit.
We may need to disclose your information
We will keep your account details confidential. However, we will disclose these details:
- if you give us permission
- if a court order applies
- to settle a claim
- if a financial institution involved in the transaction requires information for the purpose of settling a claim or dispute.
You authorise us to verify the details of the account with your financial institution. You also authorise the financial institution to release information allowing us to verify the account details.
Other important things you should know
We will not be liable for any loss or other consequences arising from the account information you provide for the direct debit request being inaccurate.
You should check your account details before providing them to us. Your account details can be found on a recent bank statement or cheque book.
Direct debits may not be available on all accounts offered by financial institutions. If you are not sure whether direct debits are available on your account or your account details, check with your financial institution before completing a direct debit request.
You promise to cover us for losses
You indemnify us against all losses, costs, damages and liability that we suffer as a result of you giving us incorrect or false information in your direct debit request. Your indemnity:
- extends and covers all changes you make to your direct debit request,
- continues after this Agreement is ended, and
- excludes loss to the extent it is caused by the fraud, negligence or wilful misconduct of us, our related entities or our agents.
Contacting us
If you need to contact us about this agreement, you can do so by:
- calling us on 13 30 30 Monday to Friday (8am to 8pm) or Saturday and Sunday (9am to 5pm), Sydney time
- emailing us at info@ampbanking.com.au
- writing to us at AMP Bank, Reply Paid 79702 Parramatta NSW 2124.
Definitions
In this agreement:
we, us and our are references to AMP Bank Limited ABN 15 081 596 009, Australian credit licence 234517, AFSL No. 234517.
account means the account held at your financial institution which we are authorised to debit.
direct debit request means the written, verbal or online request by you for us to debit funds from your account.
financial institution means the financial institution where the account is held.
payment date means the day payment by you to us is due.