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).

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.

2. Privacy statement

a. We 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).
b. 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.
c. 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).
d. 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.
e. 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:

  • phoning us on: 1800 672 162, or

  • emailing:
    f. 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:

    a. to find out what this fee is and the circumstances where it may be charged; or

    b. 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.

    We are not responsible for:

    a. any fees charged to you by your financial institution or other third parties as a result of payments failing, dishonouring or being delayed; or

    b. 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:

    a. before 5.00pm Sydney time on a Business Day will be sent to your financial institution for processing at 5.00pm Sydney time on the same day,

    b. after 5.00pm Sydney time on a Business Day or on a non-Business Day will be sent to your financial institution for processing at 5.00pm Sydney time the next Business Day.

    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 $99,999,999.99. Your financial institution or the real estate agent may impose other restrictions on transfers and transaction limits.

    5. Payment enquiries, complaints or disputes

    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:

    a. emailing:, and include a full explanation of your situation. We will generally reply within two (2) Business Days, or

    b. writing to: DEFT Investigations Team, 1 Shelley Street, Sydney NSW 2000.

    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 it may require to determine your claim.

    If your financial institution or we do not rectify a problem notified by you, you have the option to contact either our Customer Advocate, or the Australian Financial Complaints Authority (‘AFCA’). The Customer Advocate’s role is to review the reasonableness and fairness of the outcome of your complaint. AFCA offers an independent and free resolution process of disputes between consumers and financial service providers. AFCA has certain terms of reference that must be satisfied in order for it to investigate your problem. 

    You can contact the Customer Advocate by:

    a. writing to: The Customer Advocate, Macquarie Bank Limited, GPO Box 4294, Sydney NSW 1164,

    b. calling: 1800 898 307, or

    c. emailing:

    You can contact AFCA by:

    a. writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001,

    b. calling: 1800 931 678 (free call), or

    c. emailing:

    6. Mistaken payments

    a. Even though the ‘mistaken internet payment’ regime of the ePayments Code may not apply to transactions performed on DEFT Auction Pay, we will aim to apply those provisions for relevant transactions where we can.

    b. You should report a mistaken payment by calling 1800 672 162 as soon as possible after you become aware of it. Any delays may impact our ability to recover funds on your behalf. We will need to collect information from you that will allow us to investigate and determine whether a mistaken payment has occurred. We will give you a reference number or some other form of acknowledgement which you should retain as evidence of the date and time of your report.

    c. If we are not satisfied that a mistaken payment has occurred, we will not take further action and you will be liable for any loss arising from the payment.

    d. If we are satisfied that a mistaken payment has occurred then we will try to recover the funds in accordance with the timeframes and process contained in the ePayments Code, for relevant transactions and subject to any laws which may conflict (e.g. in some circumstances we may be prevented from recovering funds because the mistaken recipient’s account is a trust account regulated by State legislation).

    7. General terms

    a. 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.

    b. We are committed to providing high quality financial products and services within a trusted environment. Please read the ‘Important Information’ page available on for more information on fraud and data security.

    c. Banking Code of Practice (‘BCOP’) – This is a banking service to which the BCOP applies. The BCOP is an industry code which sets standards of good banking conduct for banks, their staff and their representatives. The BCOP will apply to this PDS when we adopt the BCOP on or before 1 July 2019, if you are an individual or a small business (as defined in the BCOP).

    d. 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.

    e. In this document: 

  • Business Day means every weekday except for Australian national public holidays

  • 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).