The Borrower(s) (‘you’, ‘your’) authorise and request Macquarie Bank Limited (user ID 320357, ABN 46 008 583 542) (‘us’, ‘our’, ‘we’) as the Lender of your home loan to debit funds from your nominated account(s) in accordance with your ‘Direct Debit Request’ (‘DDR’) and on the terms of this Direct Debit Service Agreement.

This Direct Debit Service Agreement applies to all account holders of the nominated account(s) who must accept this form in acknowledgment and agreement to its terms.

  1. You authorise us to obtain any payment due under your loan agreement by using the DDR, and to debit all taxes and fees associated with the direct debit.
  2. If a payment falls due on a non-business day, the amount will be debited on the same day. If you are uncertain of when a debit will be processed to your home loan account, you should contact us.
  3. You may terminate the DDR online or by contacting us. You must arrange a suitable alternate payment method with us if you wish to cancel the DDR.
  4. You may request a stop to any individual debit by contacting us at least five business days prior to the payment due date. You may also contact your financial institution.
  5. You may request deferment or alteration to payments under the DDR by contacting us at least five business days prior to the payment due date.
  6. If you consider that there has been an error in debiting your account, you should contact us or your financial institution promptly. If we conclude as a result of our investigations that your account has been incorrectly debited we will respond to your query by arranging for your financial institution to adjust your account (including interest and charges) accordingly. We will also notify you in writing of the amount by which your account has been adjusted. If we conclude that your account has not been incorrectly debited we will respond to your query by providing you with reasons and any evidence for this finding in writing.
  7. It is your responsibility to ensure that there are sufficient clear funds available in your account to allow a debit payment to be made on its due date. You must advise us promptly if the account nominated by you is transferred or closed and you must arrange for the debit payment to be made by another method.
  8. If a payment is dishonoured, you may:
    - be charged fees and/or interest by your financial institution;
    - incur fees or charges imposed or incurred by us; and
    - be in default under your loan agreement with us.
  9. We will hold, use and disclose any information (including your account details) in your DDR in accordance with our Privacy Policy, available on our website.
  10. We will only disclose information that we have about you:
    - to the extent specifically required by law; or
    - for the purposes of this agreement (including disclosing information in connection with any dispute, query or claim).
  11. We may vary any details of this agreement or a DDR at any time by giving you at least 14 days’ notice.
  12. If you wish to contact us about anything relating to this agreement, you should call us on 1800 007 722 or email clientservices@mortgageinfo.com.au
  13. You agree that we may assign this authority to anybody who takes over the ownership or management of your home loan account.
  14. You acknowledge that all information provided on this DDR is true and correct.