In simple terms, a Direct Debit involves instructing your bank or building society on your behalf. This instruction grants permission to the organization you wish to pay, enabling them to collect varying amounts from your account. However, this collection can only occur if you’ve received prior notice of the specific amounts and collection dates.
ANZ Bank Direct
Within ANZ Internet Banking, the direct debit feature empowers you to debit funds from your client’s account across any Australian Financial Institution, whether it’s a bank, building society, or credit union. All that’s required are the accurate BSB number, account number, and account name for your client.
The setup of a Direct Debit Instruction can only be initiated by the account holder, and in some cases, the organization requesting payment might provide a paper Direct Debit Instruction for your authorization.