You can set up payment agreements with businesses or merchants who offer PayTo as a payment option. You’ll need to provide the business or merchant with certain information, such as your BSB and account number and/or PayID.
It’s important to note you must have an Australian mobile number registered with Macquarie to view payment agreements in Macquarie Mobile Banking app or Macquarie Online Banking and/or provide instructions in relation to payment agreements.
If you’ve set up Macquarie Authenticator, the payment agreement will appear as a push notification in the app for you to authorise. If you do not have Macquarie Authenticator, this notification will appear in the Macquarie Mobile Banking app and Macquarie Online Banking. Once authorised, your account will be debited in line with the terms of the payment agreement between you and the business or merchant to pay for goods and/or services. This could be a one-off, ad-hoc or recurring payment with a payment amount that may be fixed or variable.
Please note that it’s your responsibility to ensure that you carefully consider any Payment Agreement request before you provide your authorisation. Macquarie will not be liable for any loss that you suffer as a result of any payment processed by us in accordance with the terms of a Payment Agreement.
When the payment comes through, you will receive a notification that the payment has been debited from your account. There won’t be a need to reauthorise. If you have insufficient funds, the debit will fail and you will receive a notification that the payment has failed.