page top

Regular Payments

Attention: open in a new window. Print

Payments can be made via Direct Debits, Regular Authorised Payments or Regular Visa Card Payments. These methods are a great way to automate your everyday banking needs.

Direct Debits

To pay by Direct Debit, you will need to complete a Direct Debit Request (DDR) authority with the business or company that you wish to pay (they will provide this form). The DDR needs to include our BSB 704-191 and your Member number and gives the company permission to collect payments from your account on a regular agreed due date without you having to manually arrange a payment. (NB: Please use your own name as the account name.)

Cancellation of Direct Debits

Upon your request, the Mutual Bank will cancel a Direct Debit payment with a third party debit supplier. The Mutual Bank will process your request within two business days of receipt and will ensure, as far as practicable, that no further Direct Debits are made to your account once the Direct Debit is cancelled. A fee may apply for each payment stopped.

Regular Authorised Payments

You can arrange to have payments (internal / external transfer & BPAY) transferred automatically from your Victoria Teachers Mutual Bank Account.

Our Regular Authorised Payment facility enables you to pay your rent, or regular bills like gas and electricity, with minimum fuss. You can also use this facility to transfer funds to other accounts without paying any fees. By setting up an automated transfer directly into one of our competitive savings accounts, you can find yourself with a nest egg in no time.

To arrange regular payments from your account download a Regular Authorised Payment application.

Regular Authorised Payment Application.

Mail completed application to:
Victoria Teachers Mutual Bank
P.O. Box 338
Camberwell VIC 3124
or fax to 03 9882 4348

or:

Via Internet Banking using the 'Pay Later' feature.

or:

Call one of our friendly Member Service Consultants on 1300 654 822.

Regular Visa Card Payments

What is a Regular Visa Card Payment?

Regular payments can be a recurring payment or an instalment payment. A regular payment is an agreement between you (the cardholder) and a merchant where you preauthorise the merchant to bill your card at predetermined intervals (eg. monthly, quarterly). The amount may differ or be the same for each transaction.

What are the benefits of Regular Payments?

There are many benefits including:

  • Ensures timely payments to the merchant.
  • Saves you time as the payment is processed automatically.
  • Saves you money as you do not have to send money transfers or pay for postage.
  • Customer Responsibilities and Obligations.
  • Regular payment arrangements are an agreement between you (the cardholder) and the merchant. We recommend that you keep a record of all regular payments you have established with merchants. A template for recording your regular debits is available from the Australian Payments Clearing Association's (APCA) website www.apca.com.au.

You are responsible for notifying the merchant when your card details change including the card number and/or the expiry date. Until you notify the merchant of your new details your Mutual Bank may pay any transactions that are presented by the merchant. We recommend that you keep details of any communication with the merchant as this may be required in the case of a dispute.

Customers Rights to Dispute

Any issue with your regular payments, including the failure of the merchant to comply with your request to cancel a regular payment, should be taken up directly with the merchant. Should you require further assistance to resolve the issue between yourself and the merchant, contact the Mutual Bank for more information.