Frequently Asked Questions
What is a direct debit?
A direct debit is a regular automatic payment that authorise a merchant or service provider to withdraw an agreed amount of money from your nominated account. Direct debits are set up with an eligible transaction account using your BSB and Account Number.
For example, you might arrange a direct debit with your power or telecommunications company so that your monthly bill can be take automatically from your account without having to arrange separate payment each time.
Note: Direct debits are different from recurring payments. A recurring payment is a regular automatic payment that authorises a merchant or service provider to charge your debit card. Recurring payments are set up from your debit card using your 16-digit card number, expiry date and CVC number on the back of your card.
Is a direct debit the same as an automatic payment?
No. Direct debits are different from automatic payments. An automatic payment is an instruction to your credit union to make a regular payment of a fixed amount from your account to someone else, either for a fixed period of time or indefinitely.
A direct debit allows the direct debit initiator to submit the specific amount to be debited from your account – so the amount can vary each time.
Can a direct debit transaction overdraw my account?
It is your responsibility to ensure that you have sufficient available funds in your chosen account when payments are due to be withdrawn. While the credit union is under no obligation to do so on any particular occasion, we may permit you to overdraw your account by allowing a direct debit payment to occur even if there are insufficient funds in the account. An account overdrawn fee and debit interest may apply. If we do honour a payment, or do so more than once, it does not mean we have nay obligation to do so in the future. If we decide not to allow it, the payment will be dishonoured.
If the payment is dishonoured, you are required to contact the merchant to discuss alternate payment options.
Please note that you may avoid being charged the account overdrawn fee by returning your account to a positive balance.
If you’re struggling with staying within your limit, the best thing to do is act early – talk to us as soon as possible.
How do I change or cancel a direct debit?
You many cancel or suspend a direct debit by calling us on 0508 Westforce (937836) – Phone Hours. You are responsible for telling the organisation your direct debit was being paid to about the cancellation, and you need to do this so they can update their billing system.
When you set up a direct debit, you agree to give the organisation you are paying authority to take money directly from your bank account. Alternatively, you could set them up as a bill payee in Online Banking, and schedule their payment for a date that’s most convenient for you, and retain control of your account. To register for online banking, call us.
Any queries regarding statement information of your direct debit (payee, code, reference), or account that your direct debit is paid from, should be made to the organisation receiving the payment, not to Westforce Credit Union. Unfortunately we can’t change direct debit details for you, as that whole process is run from the billing company.
What form of ID do I need to apply for a personal loan?
If your personal loan is approved we will need to see some photo ID, such as a passport. If you are not a member we will also need proof of your current physical address such as a bank statement or utility bill addressed to you. Please check out our full list of ID requirements.
How much can I borrow?
You can apply to borrow any amount over $500. The amount we approve will be subject to your financial circumstances meeting our lending criteria.