If you need to cancel a regular payment, it’s important to first check whether the payment is a Direct Debit, a Recurring Payment, or a PayTo agreement.
This will determine the action you need to take.
For your convenince, we've set out the steps for each below.
Recurring Payment
A Recurring Payment is a regular charge to your debit or credit card, where you have provided your card number, expiry date and security code to a merchant or service provider and agreed to be charged on a regular basis for services.
If you wish to cancel a Recurring Payment, you’ll need to contact the merchant or service provider directly. We do not cancel these on your behalf.
PayTo®
PayTo® is an alternative to a Direct Debit and gives you more visibility and control over recurring bills, subscriptions and memberships.
You can view, authorise, cancel or pause your PayTo® payments directly via our online banking portal.
®PayTo is a registered trademarks of NPP Australia Limited.
Direct Debit
A Direct Debit is a regular payment arrangement where you authorise a third party (e.g. a merchant or service provider) to electronically debit your transaction account using your BSB and account number on a regular basis to pay for services provided to you.
You have a several options to cancel your Direct Debit:
- Send us a secure message via online banking, indicating the Direct Debit you wish to stop or cancel.
- Complete a Direct Debit stop payment form or cancellation form and return it by the contact options listed on the form.
- Contact your local Elders branch or call Elders Finance on 1800 272 111 after hours.
Please note: If the Direct Debit is scheduled to be processed within the next 48 hours, we can still act on your request however we cannot guarantee the cancellation will succeed if the payment file has already been processed.
Things to remember when cancelling a Direct Debit
Cancelling your Direct Debit does not cancel your contract with the merchant or service provider. If you’re still receiving the service, you will need to make alternate payment arrangements or formally end your agreement.
If you notice an unauthorised Direct Debit on your account, please contact us and we’ll lodge a dispute with the merchant or service provider on your behalf.
Disclaimer: Elders Rural Services Australia Limited ABN 72 004 045 121 Australian Financial Services Licence 237757 (Elders) has entered an arrangement to distribute banking products issued by Auswide Bank, a division of MyState Bank Limited ABN 89 067 729 195 Australian Financial Services Licence 240896, a wholly owned subsidiary of MyState Limited ABN 26 133 623 962. This information is general in nature and does not consider your personal objectives, financial situation or needs. Before deciding whether to apply for a financial product, you should seek professional advice and consider the relevant Terms and Conditions and Target Market Determination on the Elders website. Elders may receive a commission from Auswide Bank if you successfully apply for a financial product through Elders. For more information on Elders’ relationship with Auswide Bank, please read the Elders Financial Services Guide.