Direct Debit and Credit Services
What is a direct debit?
With our Direct Debit Bill Paying Service you can prearrange payment of an authorised sum to a nominated recipient at nominated intervals.
You can have many of your payments debited directly from your account. Examples include:
- Utility bills
- Insurance payments
- Credit card monthly repayments
- Loan repayments
- Charitable donations
If you are concerned about a direct debit payment made from your account, we will investigate it immediately for you.
To find out if you can establish your payments on the direct debit system, please speak to one of our branch team members on 1300 665 553.
Credit Services
You can also have money directly credited to your account via the Direct Credit system by quoting our BSB 803-161 and your account number. Examples include:
- Salary
- Pension/allowance
- Tax refund
Providing this information to the payee will allow them to make payment in this fashion.
Note: when providing information on your membership, always adopt sensible security practices.
What is a periodic or recurring payment?
This service enables you to make a payment or transfer to yourself or another party from your savings account on a regular basis.
Periodical payments can be set up to recur (e.g. weekly, fortnightly, monthly, quarterly) for an indefinite or fixed number of payments or transfers.
Outgoing payments can be in the form of transfers to another member’s account or another financial institution. Payments can also be by cheque posted to an address you nominate or to a BPAY biller.
Users of our Internet Banking Service can create their own periodical payments. What’s more, you can view, edit or delete any existing periodical payment instructions we hold on file for you. A receipt is generated to confirm your request.
How do I cancel my direct debit or recurring payments?
You can manage payments through our internet banking platform, which should allow you to switch off any recurring payments.
If you set up direct debits between Woolworths Team Bank and your service provider, you can reach out to either of us to cancel. We will take action to cancel a direct debit within 1 business day, and you won’t be charged a fee to cancel. You can also let us know whether you want to cancel all your direct debits, just one, or several. In this case, we will advise you to establish a new facility for the payment arrangements you wish to maintain.
If you’d like to talk to us about this, call our branch team on 1300 665 553.
