Direct Debit Instruction/Authority Terms & Conditions

These are the Terms & Conditions that apply to your Direct Debit Instruction/Authority with Recoveries Corporation New Zealand Limited (NZBN 9429050686155)(Approval/ Authorisation Code 2804) (Direct Debit Initiator)

These Terms and Conditions explain what your obligations are when undertaking a Direct Debit arrangement with us. It also details what our obligations are to you as your Direct Debit provider.

If you have been provided with an online Direct Debit Application and you would like to execute a Direct Debit Authority on paper, please contact us on 0800762008 or via email generalenquiries@recoveriescorp.co.nz

1. Definitions

Account means Credit Card or Bank Account details held by you alone at your financial institution from which the Direct Debit Initiator is authorised to arrange for funds to be debited.

Agreement means this Direct Debit Instructions/Authority between you and Direct Debit Initiator.

Business Day means a day other than a Saturday or a Sunday or a public holiday listed throughout New Zealand.

Customer means the Account holder with the Direct Debit Initiator or an authorised representative acting on their behalf.

Debit Day(s) means the day(s) that your payment is due.

Debit Payment means a particular transaction where a debit is made.

Direct Debit means you authorising the Direct Debit Initiator to debit your Account directly pursuant to this Agreement.

Us or We means Direct Debit Initiator.

You or Your means the Customer.

Your financial institution is the financial institution where you hold the Account from which you have authorised the Direct Debit Initiator to directly debit.

2. Debiting Your Account

2.1 By making the payment to Direct Debit Initiator, you agree that you are the Account holder authorised to make this payment.

2.2 By authorising the Direct Debit Initiator to debit your Account, you have agreed to accept the terms and conditions contained in this Agreement.

2.3 By accepting this Agreement, you authorise the Direct Debit Initiator to arrange for funds to be debited directly from your Account within 3 Business days from the agreed Debit Day(s) with the first payment to be made not less than 10 days before completing this Direct Debit Instruction.

2.4 If the Debit Day(s) fall(s) on a day that is not a Business day, the Direct Debit Initiator may direct your financial institution to debit your Account on the following Business day.

2.5 If a Direct Debit from your Account has been dishonoured, you authorise the Direct Debit Initiator to re-attempt the payment within 7 days from the dishonoured payment date.

2.6 You agree the Direct Debit Initiator will not be liable for any dishonoured Direct Debit fees incurred you.

2.7 If you are unsure about which day your Account has or will be debited you should ask your financial institution

2.8 Whilst the Direct Debit Initiator will not add any surcharge to the payment, the transaction may incur a charge directly from your financial institution dependent on the terms and conditions of your agreement with them.

2.9 The accepted credit cards are Visa and MasterCard.

2.10 Only cleared funds in your Account can be debited by Direct Debit Initiator.

2.11 The Direct Debit Initiator will send confirmation of the Direct Debit Instruction together with a copy of these Terms and Conditions:-

(a)  By e-mail within five business days so you must ensure you have provided your email address; or

(b)   If you have declined to communicate electronically, by physical mail within five business days so you must ensure you have provided your postal address.

3. Changes by us

3.1 The Direct Debit Initiator will not vary any details of the payment amount or frequency of the Agreement at any time without your authority.

3.2 With the exception of item 3.1 of this Agreement, the Direct Debit Initiator reserves the right to alter other terms of this Agreement.

3.3 Any alterations to the terms of this Agreement other than in item 3.1 will be notified to you by giving you 14 days’ notice.

4. Changes by you

4.1 If you wish to:-

(a)  cancel this Direct Debit Instruction/Authority;

(b)  stop a specific payment; or

(c)  vary the  payment amount or payment frequency under this Agreement,

you may contact the Direct Debit Initiator on 0800762008 or via email generalenquiries@recoveriescorp.co.nz

4.2 Any changes proposed by you would require our approval.

4.3 If you wish to stop or defer a Debit Payment you must notify the Direct Debit Initiator in writing (3) clear Business days before the next Debit Day.

4.4 You may instruct your financial institution to terminate your Direct Debit Payment Agreement with the Direct Debit Initiator by giving to the institution the requisite notice they require.

4.5 Should you stop your Direct Debit Payment Agreement while an amount is still owed, it is your obligation to enter into an alternative payment arrangement with the Direct Debit Initiator immediately.

5. Your obligations

5.1 It is your responsibility to ensure that there are sufficient cleared funds available in your Account to allow a Debit Payment to be made in accordance with this Agreement.

5.2 If there are insufficient cleared funds in your Account to meet a Debit Payment:

(a)  you may be charged a fee and/or interest by your financial institution;

(b)  you may also incur fees or charges imposed or incurred by Direct Debit Initiator; and

(c)  you must arrange for the Debit Payment to be made by another method or arrange for sufficient cleared funds to be in your Account by an agreed time so that the Direct Debit Initiator can process the Debit Payment.

5.3 You should check your Account statement to verify that the amounts debited from your Account are correct.

6. Dispute

6.1 If you believe that there has been an error in debiting your Account, you should notify the Direct Debit Initiator directly on 0800762008 or via email generalenquiries@recoveriescorp.co.nz and we may request that you confirm this in writing, so that we can resolve your query.

6.2 If we conclude as a result of our investigations that your Account has been incorrectly debited we will respond to your query by arranging for your financial institution to adjust your Account accordingly.

6.3 If the Direct Debit Initiator conclude as a result of our investigations that your Account has not been incorrectly debited we will respond to your query by providing you with reasons and any evidence for this finding.

6.4 Any queries you may have about an error made in debiting your Account should be directed to the Direct Debit Initiator in the first instance so that we can attempt to resolve the matter between us and you. If we cannot resolve the matter you can still refer it to your financial institution which will obtain details from you of the disputed transaction and may lodge a claim on your behalf.

7. Accounts

7.1 You should check:

(a)  With your financial institution whether Direct Debiting is available from your Account.

(b)  Your Account details which you have provided to the Direct Debit Initiator are correct by checking them against a recent Account statement; and

(c)  With your financial institution if you have any queries about Direct Debit.

8. Confidentiality

8.1 The Direct Debit Initiator will keep any information (including your Account details) in this Agreement confidential. We will make reasonable efforts to keep any such information that we have about you secure and to ensure that any of the Direct Debit Initiator employees or agents who have access to information about you do not make any unauthorised modification, reproduction or disclosure of that information.

8.2 The Direct Debit Initiator will only disclose information that we have about you:

(a)  To the extent specifically required by law; or

(b)  for the purposes of this Agreement (including disclosing information in connection with any query or claim) and;

(c)  where we have collected the information about you in order to recover an amount owed to another entity, the information may be disclosed to that entity.

9. Notice

9.1 If you wish to notify us in writing about anything relating to the agreement, you should write to  generalenquiries@recoveriescorp.co.nz

9.2 We will notify you by sending a notice in the ordinary post to the address you have given us in the agreement.

9.3 Any notice will be deemed to have been received five business days after it is posted.