Direct debit terms
- If you’ve elected to make a payment by direct debit from your Bank Account, Debit Card or Credit Card, either electronically through the PRA Australia Customer Portal, via a manual form or by telephone, you request and authorise PRA Australia, until further notice in writing, to debit the Bank Account, Debit Card or Credit Card that you have nominated with any agreed amount and apply that payment to the Customer Account.
- The first drawing under this Direct Debit arrangement will occur on the day which has been agreed to.
- If any drawing falls due on a non-business day, it will be debited to your account on the next Business Day following the scheduled drawing date.
- PRA will give at least fourteen (14) days’ notice in writing or via some other form of communication when, changes to the initial terms of arrangement are made. This notice will state details of any changes to the initial terms.
- If you want to make changes to the drawing arrangements, you must contact PRA Australia by phone or in writing (this includes email). These changes may include:
- date, the scheduled frequency and/or the scheduled payment amount;
- Changing Bank Account, Debit Card or Credit Card Details;
- Cancelling the Direct Debit Request;
- Suspending the Direct Debit Request.
- Any requested changes to the due date, the scheduled frequency and/or scheduled repayment amount, if agreed to by PRA, or changes to the Bank Account, Debit Card or Credit Card to be debited, will require you (or the bank account holder) to complete a new Direct Debit Request either electronically through the PRA Australia Customer Portal, via a manual form, via email or by telephone.
- Direct all enquires to PRA, rather than to your financial institution, and these should be made at least seven (7) working days prior to the next scheduled drawing date.
- All communications addressed to PRA should include your name, current address, contact phone number, customer reference number and date for next Direct Debit arrangement.
- In accordance with PRA Privacy Policy, all your personal, Customer, or third party, information held in relation to this Direct Debit Request, will be kept strictly confidential except that information provided to your financial institution necessary to initiate Direct Debit drawing against the nominated account.
- If you believe that a drawing has been initiated incorrectly, PRA encourage you to take the matter up directly with PRA
- If you do not receive a satisfactory response from PRA to your dispute, contact your financial institution who will respond to you with an answer to your claim:
- within seven (7) business days, for claims lodged within twelve (12) months of the disputed drawing, or
- within thirty (30) business days, for claims lodged more than twelve (12) months after the disputed drawing.
- You will receive a refund of the drawing amount if PRA cannot substantiate the reason for the drawing.
- It is your responsibility to ensure that:
- Your nominated account can accept direct debits. Your financial institution can confirm this to you.
- That on each due drawing date there is always sufficient cleared funds in the nominated account to cover the scheduled repayment amount.
- That you advise us seven (7) business days in advance if the nominated account is transferred or closed.
- If there are insufficient funds in your account to meet a debit payment on the due date:
- PRA is under no obligation or commitment to represent the dishonoured direct debit request to your financial institution; however, we may, at our discretion, represent a direct debit dishonoured due to insufficient funds;
- If a represented direct debit dishonours, then PRA reserves the right to suspend the presentation of further direct debits requests without prior notice to you;
- You may be charged a fee and/or interest by your financial institution;
- You may also incur fees or charges imposed or incurred by PRA;
- You must arrange for a dishonoured debit payment to be made by another method or arrange for sufficient clear funds to be in your account, by an agreed time, so that, if agreed, we can reprocess the debit payment;
- If you do not make an arrangement to rectify the dishonoured payment, and associated fees, this Direct Debit arrangement may be cancelled by PRA, without prior notice to you — any agreement to pay off the remaining balance over time or at a reduced rate will become immediately due and payable.
