Direct debit service agreement

Terms and conditions

Definitions:

Financial Institution – the financial institution where your nominated account is held

Nominated Account – means the account held at your financial institution from which Silver Chain is authorised to arrange for funds to be debited

  • By signing the direct debit request, you have authorised Silver Chain Group Limited to arrange for funds to be debited from your nominated account 
  • Silver Chain will only arrange for funds to be debited from your account as authorised in the direct debit request 
  • If the debit day falls on a weekend or a public holiday, funds will be deducted on the first business day thereafter 
  • Silver Chain may vary this agreement at any time by giving you at least fourteen (14) days written notice
  • You may request that we cancel or alter the direct debit request by contacting us and providing at least seven (7) days notice of any requested changes. These changes may include deferring the debit, altering the debit dates, stopping an individual debit, suspending the direct debit arrangement or cancelling the direct debit completely
  • It is the responsibility of the account holder to have sufficient clear funds available in the account on the due date to permit the payment of debit items initiated in accordance with this direct debit request
  • If there are insufficient clear funds in your nominated account you may be charged a fee by your financial institution and by Silver Chain
  • If your payment is dishonoured due to insufficient funds we will contact you to arrange payment by another method or arrange for sufficient funds to be in your account by an agreed time so that we can process the debit payment
  • If you believe that there has been an error in debiting your nominated account you should notify us by phoning the contact number below and confirm that notice to us in writing as soon as possible. Alternatively you can take this up directly with your financial institution
  • If Silver Chain concludes as a result of our investigations that your nominated account has been incorrectly debited, Silver Chain will respond to your query by arranging for your financial institution to adjust your nominated account (including interest and charges) accordingly. We will also notify you in writing of the amount by which your account has been adjusted 
  • If Silver Chain concludes as a result of its investigations that your nominated account has not been incorrectly debited, Silver Chain will let you know the reasons and any evidence for this finding 
  • You must ensure your nominated account can accept direct debits as not all accounts do
  • You should check the nominated account details against a recent statement from your financial institution to ensure their accuracy before submitting to Silver Chain and check with your financial institution if uncertain
  • Silver Chain will keep all information relating to your nominated account at your financial institution confidential except to the extent that it is required to process direct debit transactions
  • Silver Chain 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 query or claim)