What happens if I suspend my direct debit authority?
Almost everyone in Australia uses a direct debit. This is an easy to use and free service where a user gives permission to a bank or organisation to pay for a product or service. So what happens when that same user suspends their direct debit authority?
Since authority and permission are needed, once you take it away from a company, they no longer can charge you without direct consent. It can make paying bills hard, especially bills such as utilities, rent, and other recurring charges.
It is fairly easy to suspend direct debit authority. Usually, all you need to do is call your banking institution. They can resolve this easily. Sometimes, though, it helps to speak to the company or organisation first. They have the right and your information, meaning they can suspend the direct debit.
However, before you can suspend the direct debit, the company will need to verify your identity. Typically, they ask for details such as your full name, address, contact information, and information about the product or service. Always ask for confirmation and proof, though, that you have suspended your direct debit, this way, you won’t be charged again.
Suspending Direct Debit Authority Conclusion
All in all, suspending your direct debit authority can be done easily and from the comfort of your home! If you do not want the hassle of calling the organisation or company, then you can call your banking institute. If you have any more questions, don’t forget to call Mortgage House representatives!