top

Direct Debit FAQs

Direct Debit FAQs

Attention: open in a new window. Print

What is a Direct Debit?

A Direct Debit occurs when you provide your deposit account details (BSB and account number) to allow a merchant or service provider to debit your account regularly to pay for the services they provide (e.g. to pay for monthly insurance payments).

  How to cancel a Direct Debit?

If you would like to cancel your Direct Debit, you may do so by visiting any of our branches, by calling us on 1300 BANKING (1300 226 546), or by sending us a Secure Message via our Internet Banking platform. Please note that there are no fees associated with this service.

We recommend submitting your request to cancel your Direct Debit as soon as possible, as there may be a waiting period associated with the processing of your request.

Note: Recurring Payments are subject to different cancellation procedures.

  What is a Recurring Payment? 

Not to be confused with Direct Debit, a Recurring Payment occurs when you provide your credit or debit card details (card number, expiry date and security code) to allow a merchant or service provider to charge your card regularly to pay for services they provide (e.g. Netflix subscription may be paid for using credit card details).

  How to cancel a Recurring Payment

If you would like to cancel your Recurring Payment, you may do so by visiting any of our branches, by calling us on 1300 BANKING (1300 226 546), or by sending us a Secure Message via our Internet Banking platform. Please note that in order for us to process your request, your card will need to be cancelled and a new card will be issued to you. Fees and Charges may apply – please refer to your Product Disclosure Statement (PDS).

Alternatively, you may contact the merchant directly to request the cancellation of your Recurring Payment.

We recommend submitting your request to cancel your Recurring Payment as soon as possible, as there may be a waiting period associated with the processing of your request.

  Require a list of your Direct Debits or Recurring Payments?

If you require a list of your Direct Debits or Recurring Payments, this may be requested and printed for you at any Bank of Sydney branch. Additionally, you may obtain a 13 months transaction listing via our Internet Banking platform.