What happens if my Direct Debit fails and can't be processed?
Last Updated: 05 Jul 2017
A Direct Debit can fail for a number of reasons. They will automatically dishonour if the account you're attempting to pay from cannot accept the Direct Debit. Reasons a Direct Debit may not be accepted include:
- You have a hold on your account.
- ASB hasn’t received an authority allowing the Direct Debit.
- The Direct Debit is to the wrong account suffix.
- ASB cancelled the Direct Debit authority on your request.
- The Direct Debit was attempted on a savings or investment account.
If a Direct Debit transaction is attempted while there are insufficient funds to make the payment, one of two actions will happen.
- Depending on your account history, we may choose to process the Direct Debit, taking your account into unarranged overdraft.
- The Direct Debit transaction may be attempted again after midnight. If there are still insufficient funds available then the Direct Debit will not be processed.
Dishonoured payments are sent back to the initiator (the person you pay with the Direct Debit) and it is their responsibility to arrange an alternative payment method with you.
Did this answer your question?
Related Answers
-
Before you begin, display the Create Direct Debit Receipt page by: Selecting Transactional Banking on the FastNet Business tab bar ...
-
If any of the payers in a receipt, for example, do not have sufficient funds, the money cannot be deducted ...
-
To have the ability to create a direct debit file to pull money from other accounts, you must be a ...
-
Direct Debits coming out of your account will show on your account statement which you can see online in FastNet ...
-
A Direct Debit is a type of payment authority that gives permission for another person, business or company (which is ...
-
Yes. FastNet Business allows you to view and modify existing automatic payments and create new ones. You can use this ...
-
If you do not have the FastNet International Module, you can still create IMT’s from a NZ$ account up to ...
-
Even though your payment may have been authorised, it was not ‘sent’ for processing and would have expired at midnight ...
-
With FastNet Business you can make a one-off payment to any New Zealand bank account. Use FastCheque to pay people ...
-
FastNet International is required for non-personal accounts where you are creating an IMT from a Foreign Currency Account and / ...
