DEFT Auction Pay Direct Debit Authority and Payer Terms of Use

Congratulations on buying your new property!

If the vendor has agreed to accept the deposit by electronic funds transfer into the property agent’s trust account, you can complete and submit this form to pay your deposit. This will authorise us to debit your bank account for the deposit amount and transfer it to the agent’s trust account.

 Important information

  • Your vendor must have agreed to receive the deposit electronically, preferably in the contract or in writing – if not, the vendor may be entitled to rescind.
  • Your bank account must allow direct debits and have sufficient funds available, otherwise you may incur fees and a dishonoured payment may also entitle the vendor to rescind.


1. Authority for Direct Debit Request (‘DDR’) & DDR Service Agreement (‘DDSA’)

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) that will be displayed on the payment confirmation page.

You acknowledge that:

  1. it’s your responsibility to ensure that your account details are correct and that your financial institution allows payments to be processed from your bank account via Direct Debit Request (DDR). You are advised to check your account details against a recent bank statement from your financial institution. 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)
  2. 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
  3. 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, a dishonour fee may be charged by your financial institution
  4. 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
  5. 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
  6. we provide the DDSA to you as an optional payment service that is not intended to restrict you from using other methods of payment
  7. 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)
  8. any fees and charges associated with processing this DDR are non-refundable
  9. a payment submitted by you in DEFT Auction Pay cannot be reversed, changed or varied after it is processed by us
  10. this DDSA does not form part of any other agreement or contract which you may be contractually bound by, including the property sale contract
  11. 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
  12. if a direct debit is dishonoured, the transaction will be reversed and you may incur dishonour fees from your financial institution. See section 3 for more details,
  13. 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 your payment is unsuccessful.

2. Privacy statement

  1. We may collect, hold, use and disclose Personal Information about you to process this form, deliver the DEFT payment services, assist with payment enquiries and deal with complaints. We will handle your Personal Information in accordance with our Privacy Policy (available at or upon request). We may also collect Personal Information about you from public sources (e.g. sales data and related information) and through monitoring and recording interactions with you (e.g. phone, email and online). Some of the information we collect is required by various laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
  2. We may exchange your Personal Information with the real estate agent or vendor, your authorised representatives, our related companies and our service providers (described further in our Privacy Policy). These companies may be located outside Australia, including The Philippines and the countries specified in our Privacy Policy.
  3. You acknowledge that we need to collect, verify, retain and handle personal information about you to enable us to deliver all parts of the DEFT service. Without that information we may not be able to effect your payment(s).
  4. We may conduct data aggregation and analysis, based on the information we have collected from your use of DEFT. We may package such information (on a de-identified basis) and use it for our own purposes or sell it to interested parties.
  5. Unless you have told us not to, we may use your personal information to contact you by any means to offer you Macquarie or third party products or services that may be of interest to you. You can change your marketing preferences by:
  6. You agree to the handling of your personal information in accordance with our Privacy Policy. Our Privacy Policy contains further details about our handling of personal information, complaints, website privacy and information regarding your rights to request access to or correct information we hold.

3. Dishonour fees and other consequences

If we are unable to debit your bank account for payment for any reason, a dishonour fee may be charged by your financial institution. You should contact your financial institution:

  1. to find out what this fee is and the circumstances where it may be charged; or
  2. if you feel any dishonour fee has been incorrectly or unfairly processed.

As a result of unsuccessful payment transaction(s), there may also be consequences for you under your property contract (e.g. the vendor may be entitled to terminate the contract, or impose additional costs) – in this circumstance, you should obtain legal advice.

To the extent permitted by any law or code to which we subscribe, and provided we have acted properly and without fault or negligence on our part, we are not responsible for:

  1. any fees charged to you by your financial institution or other third parties as a result of payments failing, dishonouring or being delayed; or
  2. any other losses or consequences that may result from a failed or delayed payment, including any contract termination or cost rights which may arise for the vendor (e.g. you missing out on the property).

In addition to any fees imposed by your financial institution, the property agent might also require you to pay for their costs or fees incurred by them for the dishonoured transaction.

4. Payment processing times and limits

Payment requests made from your bank account:

  1. before 5.00pm Sydney time on a Business Day will be sent to your financial institution for processing on the same Business Day,
  2. after 5.00pm Sydney time on a Business Day or on a non-Business Day will be sent to your financial institution for processing on the next Business Day. If you are uncertain as to when a debit will be processed, you should enquire with us and/or your financial institution.

Funds sent by your financial institution can take up to three (3) Business Days to clear and be received by the real estate agent. You should obtain the vendor’s agreement to this payment clearance timeframe.

The minimum amount you can pay per transaction using DEFT Auction Pay is one cent, while the maximum amount is $1,000,000. Your financial institution or the real estate agent may impose other restrictions on transfers and transaction limits.

5. Payment enquiries, complaints or disputes

Payment enquiries

Please contact the real estate agent if you require specific information about your payment – they will know what amounts you owe and what amounts you have paid. It might also be appropriate to contact your financial institution, which will have information about failed or declined payments.

You can contact us by:

  1. emailing:, and include a full explanation of your situation, or
  2. telephoning us on: 1800 672 162.

If any payment dispute remains unresolved, you should contact your financial institution and lodge the relevant customer claim form. Your financial institution may investigate whether or not the payment in dispute was authorised by you. You authorise us to provide your financial institution with any information that may be reasonably required to determine your claim.


How to make a complaint

To contact us please visit

If you have a privacy related question or complaint, please email and mark communications to the attention of our Privacy Officer or call us on 1800 806 310. 


The Customer Advocate 

The Customer Advocate’s role is to: 

  • listen to our customers and provide a customer-centric voice when making recommendations to improve customer experience 
  • minimise the risk of future problems by reviewing key customer themes, and 
  • work with Macquarie complaint teams to promote fair and reasonable customer outcomes. 

The Macquarie Customer Advocate is separate to Macquarie’s operating, risk and support groups including its internal dispute resolution teams. 

The Macquarie Customer Advocate can be contacted at: 

The Customer Advocate 

Macquarie Group Limited 
GPO Box 4294 
Sydney NSW 1164 


What to do if you feel your complaint has not been resolved 

If you have raised your concerns with us, and you are not satisfied with the outcome proposed or you believe that we have not resolved your complaint fairly, then you can request to have your complaint reviewed free of charge by the Australian Financial Complaints Authority (AFCA). 

AFCA is an independent external complaints handling body approved for this purpose by ASIC. This service is available to individuals and small businesses and is free of charge. 

AFCA may be contacted at: 

Australian Financial Complaints Authority 
GPO Box 3, Melbourne VIC 3001 
Telephone: 1800 931 678 

We are bound by whatever AFCA decides. However, if you do not agree with AFCA’s determination you are not bound by it and you can take the matter to court if you wish.


6. Mistaken payments

DEFT does not offer a 'pay anyone banking facility' under the ePayments Code - therefore, the mistaken payment regime set out in the ePayments Code does not apply.

Despite this, where you have made a mistake we will help you to try and recover funds from the unintended recipient. You can call us on 1800 672 162 to discuss your circumstances. If we can't help then we may recommend you contact your financial institution to try and recover funds mistakenly paid.

7. Codes of practice

The Banking Code of Practice (BCOP) is an industry code which sets standards of good banking conduct. The relevant provisions of the BCOP will apply to this PDS if you’re an individual or a small business (as defined in the BCOP).

The ePayments Code (ePC) is an industry code administered by the Australian Securities and Investments Commission (ASIC). The Code regulates electronic payments, including direct debits. From the date of our adoption of the Code we will comply with the Code in relation to transactions which are governed by it.

8. General terms

  1. Should the vendor or their agent owe an amount back to you (e.g. a deposit fund), this will be returned to the account from which the payment was originally made.
  2. Please read the ‘Important Information’ page available on for more information on fraud and data security.
  3. If any provision of the DDSA or terms of use is unenforceable, illegal or void, then it is severed and all other provisions remain in force.
  4. In this document:
    • Business Day means every weekday except for Australian national public holidays
    • Personal Information as defined in the Privacy Act 1988 (Cth)
    • Privacy Policy means the privacy policy available on that describes how Macquarie handles your Personal Information
    • We/us/our means Macquarie Bank Limited ABN 46 008 583 542, AFSL and Australian Credit Licence No. 237502, and
    • You/your means you (and if there is more than one of you, then each of you jointly and separately) – i.e. the account holder(s) making payment(s) to the real estate agent.

Authority and Acceptance

In accordance with the terms contained in this form, you authorise Macquarie (User ID 077380) to debit the bank account nominated above in payment of the deposit amount specified, plus any applicable fees and surcharges.

Any fees or surcharges will be displayed on the payment confirmation page. If the transaction fails, you may also be required to pay dishonour fees (as explained in section 3 of the terms of use).

In submitting this request, you:

  • confirm that you are the holder of the above bank account, or that you are duly authorised by the account holder(s) to provide their account details and submit this request on their behalf;
  • consent to accepting and providing your authority by electronic means;
  • confirm that you have taken steps to ensure that the vendor has:
    • agreed to payment of the deposit by DEFT; and
    • acknowledged that funds paid by DEFT can take up to three (3) Business Days to be cleared and received by the real estate agent; and
  • agree to the terms of use and the Privacy Statement (section 2), which describes the handling of your personal information (including direct marketing and how you can opt-out).