If you’re looking to set up direct debit with Commonwealth Bank, you’ll be pleased to learn that this process can be done in three simple steps.
To help you get started, we’ve created this step-by-step guide on how to set up a direct debit with CommBank to cover each of these steps in detail.
Follow along and in no time at all, you’ll be using your direct debit as a secure way to pay online!
What is Direct Debit?
Direct Debit is an easy way for you and your business to save time and money. With Direct Debit, payments are made directly from your nominated bank account.
The funds are transferred electronically at the agreed date, time and amount specified on the payment instruction form. This means there is no risk of cheques being lost in the mail or a cashier’s cheque going astray because it has been misplaced in someone’s desk drawer.
How To Set Up Direct Debit
You can set up a direct debit from Commonwealth Bank accounts online or over the phone.
You’ll need to know the payment details of the person you’re paying and their bank account number.
To set up a direct debit, enter the name of the person you want to pay and their Routing Number & Account number.
You can then choose which account they use for direct debits, whether it’s a Savings account or another Other Type of account.
Follow the steps To Set Up Direct Debit in Commonwealth bank:
- Click the account you want to set up a direct debit and choose Account Settings.
- Select the Direct Debit option from the menu and click Set up Direct Debit.
- Follow the instructions on screen to complete your direct debit and select the option to send a confirmation email if you wish.
By Calling Customer Care
- Dial the customer care number of bank and ask for the customer service representative.
- When you get connected to the customer care executive, say “I want to set up Direct Debit”
- The CSR will ask you for some Verification Details & then tell you about the procedure of setting up a direct debit.
By Visiting Branch
You can set up a direct debit in the branch, but it’s not compulsory. You can also do this online or over the phone. There is a simple step by step guide to set up direct debit in commbank.
Step 1: Visit your nearest commbank branch and ask for the Direct Debit form.
Step 2: Complete the form, sign it and take it to an officer at the counter.
Step 3: The officer will check that you are eligible to receive direct debit payments, and then explain what happens next. You will need to confirm that you agree with the terms of your account.
What are the Benefits of Using Direct Debit?
The benefits of using direct debit are numerous:
1. It’s easy to use. You can set it up online or by phone and it is simple to manage.
2. You don’t have to remember when your bills are due so you don’t forget.
3. You can decide how much time it takes before you have to pay the bill (some companies allow you to set up reminders).
4. Direct debits never go through your bank account, so there are no bounced cheques or bounced credit card charges.
5. Unlike other forms of payment such as cheques or cash, there’s no minimum spend required before you pay with direct debit – so if you’re just after a small amount then this is the ideal method for paying bills.
6. Flexibility – using set up direct debit allows you to set up different payment dates when necessary, so if someone has agreed to pay an invoice on a specific date.
What to do if there are Any Problems with Your Direct Debit
Talk to the biller. Many times they can waive charges or add deductions on another account, just ask! – If you still have trouble, contact them at 022 6139 0100 (within Australia) or See other ways to contact them.
Give yourself time when setting up your Direct Debit: it may take some days before payments start being deducted.
In conclusion, the three steps detailed here will help you quickly and easily have a bank account and make withdrawals and deposits in record time. Follow these easy steps to make saving money more convenient than ever before. Setting up your Direct Debit today is as simple as it can be!