You request and authorise us (Macquarie Bank Limited ABN 46 008 583 542, User ID 077380) to debit your nominated bank account with the amount(s) specified in this form, along with any fees/charges in processing your payment (e.g. transaction fees, surcharges and GST).
You acknowledge that:
a. it’s your responsibility to ensure that your financial institution allows payments to be processed from your bank account via DDR. If your financial institution does not process DDRs from your account, you should advise us immediately. You may incur dishonour fees as a result of nominating an account that does not permit DDRs, and there may be consequences under your property contract (e.g. the vendor may be entitled to terminate the contract, or impose additional costs)
b. if at any time you believe that a direct debit against your bank account is inappropriate or incorrect, you must notify us as soon as possible
c. it’s your responsibility to ensure that there are sufficient funds available in your bank account to meet the proposed debit(s). Where there are insufficient funds in your bank account, we may charge the cost of dishonoured payments against this account
d. we may pass on details of your DDR to our sponsor bank in the Bulk Electronic Clearing System, to assist with the checking of any incorrect or wrongful debits to your bank account
e. any direct debit that is scheduled to occur on a day that is not a Business Day will occur on the following Business Day. If you are uncertain as to when a debit will be processed, you should enquire with us
f. we provide the DDSA to you as an optional payment service that is not intended to restrict you from using other methods of payment
g. you have entered into the DDSA of your own free will and you have not been required to enter into this contract by any other person (including any real estate agent or vendor)
h. any fees and charges associated with processing this DDR are non-refundable
i. a payment submitted by you in DEFT Auction Pay cannot be reversed, changed or varied after it is processed by us
j. this DDSA does not form part of any other agreement or contract which you may be contractually bound by, including the property sale contract
k. a single payment amount will be debited from your bank account – this will include the deposit amount payable, GST, and any applicable fees or surcharges. For example, a payment of $300.00 plus transaction fee of $0.85 (including GST) will result in a debit of $300.85
l. if a direct debit is dishonoured, the transaction will be reversed and you may incur dishonour fees – both from us and from your financial institution. See clause 3 for more details,
m. although we’ll try to notify you if your payment is unsuccessful, it’s your responsibility to check that any payment(s) you have initiated via DEFT Auction Pay has been successfully debited from your bank account. You should make alternate arrangements with the agent or vendor for payment of your deposit where you payment is unsuccessful.