1. Why an agreement
Through this application, you are allowing us to debit amounts from your bank# account. The amount, how often and the date we will debit your account depends on when you instruct us to do so. Since it is a self-initiated electronic funds transfer, we only receive money once we receive authorisation from you.
2. If Australian Retirement Trust wants to change this agreement
We will notify you at least 14 days before making any changes to this agreement.
3. If you want to change your payment or make an enquiry
If you want to change the account you authorise Australian Retirement Trust to debit, you can update electronically using Australian Retirement Trust's Employer Online. Please call us on 13 11 84 if you want to:
- Change or cancel the amount to be debited. We require a signed document within seven days, notifying us of any changes or cancellations to the amount debited. We will make the changes and confirm them on completion of your request.
- Dispute a debit that has been made from your bank account. Australian Retirement Trust will respond to your initial dispute within five business days. If you are not happy with our response to your dispute, you may lodge a formal claim with your bank.
4. Weekends and public holidays
If you make a payment on a weekend or public holiday, we will debit your account on the next business day.
5. Make sure you have enough money in your account
You should make sure you have enough cleared funds in your account for us to debit your account. After you submit your contributions online, Australian Retirement Trust will debit your account on the next business day. Once you make a payment through the direct debit facility, a Transaction Confirmation number will automatically be provided.
6. Availability of services
Australian Retirement Trust will use all reasonable efforts to ensure that services specific to your registration (e.g. Adviser Online and Advice Fee Requests) are available at all times. Australian Retirement Trust will not be liable for or in connection with:
- failure of a service to perform, in whole or in part, any function which we have specified it will perform;
- the unavailability of a service to you, in whole or part, because of the failure of any communication network, ancillary equipment or any circumstance beyond our reasonable control, or;
- delays or errors in the execution of any transaction, information content or instruction because of the failure of any communication network, ancillary equipment or any circumstance beyond our reasonable control.
7. Confidential
We will keep your bank account details confidential except when a court order applies, if Australian Retirement Trust’s bank needs information about your account, or if you give us permission to reveal your bank details. The bank may need this information in connection with a claim made on it relating to an alleged incorrect or wrongful debit.
8. Check you give us your correct details
Before completing this form please check with your bank that:
- your bank account accepts direct debiting (as direct debiting through BECS is not available on all accounts), and
- the account number and BSB you give us are correct (refer to your bank statement or contact your bank if necessary).
9. Dishonour procedures
If the deduction is dishonoured three times, this facility will end immediately. A dishonour means the deduction could not be made because there were insufficient funds in the nominated account. If Australian Retirement Trust is advised of a dishonour you will be liable to pay the dishonoured amount to Australian Retirement Trust, including the application of any related fees.