A regular payment is an agreement between a customer and a merchant (biller or service provider) to debit either a bank account or a card at a determined interval agreed by both parties. When you set up a regular payment, you get the peace of mind knowing you won’t forget to pay for things like rent, credit cards, subscriptions or utility bills.
There are two types of regular payments - direct debit and recurring payment.
Please contact the merchant directly if you wish to set up a direct debit payment on your account or a recurring payment on your debit or credit card.
Alternatively, get in touch with us on 13 61 91.
A direct debit is a regular automatic payment set up on your account using your BSB and account number. This allows a merchant (biller or service provider) to debit an agreed amount of money from your nominated bank account into a merchant’s account at set times.
To cancel your direct debit, please get in touch with us at least 15 days prior to the next scheduled payment. You can contact us by calling 13 61 91, emailing info@australianmutual.bank, or by secure email via Mobile App or Internet Banking. You should also contact the merchant to let them know that the direct debit has been cancelled, as cancelling your direct debit does not cancel your contract with the merchant.
The payee may be notified that you have cancelled the recurring payment agreement. You should check your contractual obligations with the payee before cancelling the agreement and verify whether you are still required to pay them.
To change your direct debit you must contact your merchant and request they change your payment arrangement.
A recurring payment is a regular automatic payment set up from your debit or credit card with a merchant (biller or service provider). To arrange a recurring payment, you supply the merchant with your card number, expiry date and security number on the back of your card. This allows the merchant to charge your debit or credit card.
To change or cancel your recurring payment you must contact your merchant and request they change or cancel your payment arrangement. It's recommended you do this at least 15 days prior to the next scheduled payment. If possible, you should retain a copy of your change/cancellation request. Note that closing your Visa Card does not automatically cancel your recurring payment arrangements on that Visa Card.
The payee may be notified that you have cancelled the recurring payment agreement. You should check your contractual obligations with the payee before cancelling the agreement and verify whether you are still required to pay them.
Contact us to speak with a Member Service Specialist.
