What is a Direct Debit and how do I set one up?
A Direct Debit is a type of payment authority that gives permission for another person, business or company (which is then called the 'Direct Debit Initiator') to deduct money from your ASB bank account. You can have more than one Direct Debit set up.
To set up a Direct Debit, you must provide authorisation for the Direct Debit Initiator to debit your bank account. You can do this in one of two ways:
- You can provide authorisation directly to the Direct Debit Initiator - the Initiator should let you know in advance how much your bill is and when your payment is due. They will then automatically deduct that amount from your ASB account on the due date.
- You can provide ASB with a completed Direct Debit Authority Form - you can get this form from the Direct Debit Initiator. Complete the form and drop it off at any ASB branch to be processed.
For ASB Credit Cards:
You can set up a Direct Debit to make regular payments to your ASB Credit Card. You can select whether you want to pay the minimum amount due, a percentage of the account balance, a fixed amount or the total credit card account balance.
To set up a Direct Debit for your ASB Credit Card, you will need to do the following:
- ASB Bank Account – if the deduction account is with ASB and you are a signatory, you can send a secure message via FastNet Classic internet banking with the required information. Alternatively, you can call the ASB Contact Centre on 0800 803 804 or complete the ASB Credit Card Direct Debit Authority Form and hand this into any ASB branch.
- Non-ASB Bank Account – if the deduction account is with another bank within New Zealand, please complete the ASB Credit Card Direct Debit Authority Form and hand this into any ASB branch.
A Direct Debit Authority will remain loaded on your ASB bank account or Credit Card until either you or the Direct Debit Initiator cancel it.
See How do I stop, cancel or delete a Direct Debit Authority? for more information.
Before you begin, display the Create Direct Debit Receipt page by: Selecting Transactional Banking on the FastNet Business tab bar ...
Direct Debits coming out of your account will show on your account statement which you can see online in FastNet ...
A Direct Debit can fail for a number of reasons. They will automatically dishonour if the account you're attempting to ...
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 ...
A receipt whose status is In Progress or Awaiting full authorisation can be authorised and sent immediately. Note: You can ...
For questions about Direct Debits that you have authorised, you need to speak to the business or person you authorised ...
Your account balance is the total in your account. If you see “OD” (meaning Overdraft) in front of the amount, ...