Regular Payments

Police Credit’s Regular Payment service allows you to arrange the automated payment of your regular bills, such as rent, insurances, loan and credit card repayments. The regular payment service has the following benefits:

 No access costs or postage costs

 Complimentary issue of cheque payments

 You are in control of the payment

 Assists you with money management

 Accessible via pc.easynet online banking

 Your bills can be paid automatically

 Convenient recording of your bill payments on your account statement

Application

You can authorise to have payments of a regular amount, frequency and payee automatically deducted from any ‘at-call’ Police Credit savings account you nominate. Regular Payment Authorities can be created, altered or cancelled by you (or your authorised signatory) by the close of business of the day prior to the due date of the payment

 By completing a ‘Regular Payment Authority’ form at any Police Credit branch

 By phoning Member Response on 13 63 73

 Using pc.easynet

In each case,

 Your instruction needs to be given in accordance with the operating authority on your account

 Your account will be debited for the amount of the payment; and payment will be forwarded to your nominated recipient, either electronically or by cheque

 If the due date for payment falls on a weekend or public holiday, the due date will be the next working day after that due date

Important advice on making Regular Payments

Always remember to keep careful track of when your Regular Payments are due for automatic deduction and take the time to double-check that there are sufficient funds in your account to fully cover the bill amount. It’s your best protection against your payment not being processed by the due date; or the possibility of having to pay a dishonour fee where the Regular Payment for that date is rejected because of insufficient funds continuing for 3 working days after the payment was due. Please note that if a Regular Payment is rejected the next Regular Payment to be effected will be for the amount of the authorised payment only. A Regular Payment will be cancelled if it is rejected on three consecutive due dates. Account holders will be advised of these rejections and cancellations. Also, take care to ensure that you tell Police Credit the correct amount you wish to pay. If you instruct us to make a Regular Payment and later discover that the amount you told us to release was greater than the amount you needed to pay, it will then be up to you to contact the biller organisation to obtain a refund of the excess paid.

If a Regular Payment is made in accordance with a direction which appeared to us to be from you (or made on your behalf) but for which you did not actually give authority, we will credit your account with the amount of that unauthorised payment. However, you will be required to pay Police Credit the amount of that unauthorised payment if:

 We cannot recover the amount from the person who received it within 20 Banking Business Days of us attempting to do so and

 The payment was made as a result of a payment direction which did not comply with our prescribed security procedures for such payment directions.

Regular Payment Authorities can be terminated in several ways, including:

 At the instruction of the account holder/s or authorised signatory

 When the stipulated term of authority expires (where an expiry date is provided)

 On the closing of an account

 Upon full repayment of a Police Credit loan

 When a Regular Payment has been rejected three times