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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 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 Request Service Agreement.

This Direct Debit Request 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. A payment will be debited on the day it is due, both business and non-business days. If you are uncertain of when a debit will be processed to your loan account, you should contact us.
  3. You may cancel the DDR on Macquarie Online Banking or by contacting us on 02 8550 5666. You may also contact your financial institution.
  4. You may request a stop, deferment or alteration to any individual debit or payments under the DDR by contacting us at least five business days prior to the payment due date. You may also contact your financial institution.
  5. 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.
  6. Direct debiting through the Bulk Electronic Clearing System (‘BECS’) may not be available on all accounts. You can check your account details against a recent statement or check with your financial institution to find out whether you can request a direct debit from your account.
  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 at macquarie.com.au/privacy-and-cookie
  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 30 days’ notice.
  12. If you wish to contact us about anything relating to this agreement, you should call us on 02 8550 5666 or email us at clientservices@mortgageinfo.com.au
  13. You agree that we may assign this authority to anybody who takes over the ownership or management of your loan account.
  14. You acknowledge that all information provided on this DDR is true and correct.