Making Payments Easier
The department has made paying accounts easier by introducing the Direct Debit Daily System. This means you can pay an account any day of the week or month without visiting Australia Post.
What is the direct debit daily system?
The Direct Debit Daily System is an 'electronic funds transfer' and although the name sounds complicated, it is the easiest way to pay an account without unnecessary time wasting or charges. The department can arrange for funds to be transferred from the bank, building society or credit union on the day of your choice.
Is it compulsory?
Paying by Direct Debit became compulsory for all borrowers who obtained finance on, or after, 1 July 1992. However, the Direct Debit Daily System is available to all borrowers.
How much does it cost?
The Direct Debit Daily System is free.
Is the information you provide confidential?
When you give your bank authority to deduct funds from your account to pay the department, the only information the bank shares is your bank name, branch and your account number. Filling out a Direct Debit Request form Direct Debit Request form , gives the department permission to transfer your payment directly from your bank account. Details remain confidential and the department only debits your account for the required amount, on the day you specify.
When can Direct Debits occur?
In the past, direct debit payments could be made only on Wednesdays. With the introduction of the new Direct Debit Daily System, payments can be processed daily. This means you can pick the most convenient time of the week, fortnight or month to make your payment.
Payment frequency can be selected from the following options:
- weekly - pay on the same day each week; = 13 monthly payments in each 12 months
- fortnightly - pay on the same day every two weeks, for example every second Tuesday; = 13 monthly payments in each 12 months
- four weekly - pay on the same day every four weeks, for example every fourth Friday from the first deduction (this method means that you will pay 13 monthly instalments in 12 months)
- monthly - by date, for example 20 th of each month, or by day, for example third Monday of each month.
Please note: If you choose to pay on a certain date each month and this falls on a weekend or public holiday, the payment will be deducted on the next working day. If you choose the 29, 30 or 31 of the month and these dates do not occur in a particular month, then the payment will be deducted on the last working day of that month.
How much money is transferred from your account?
Because you can choose when your money is deducted from you account and paid to the department, you can also choose how much is transferred each time. However, the total payments deducted each month must equal your monthly instalment.
An extra amount can be added to each payment, for example $20 per fortnight. This extra payment would result in substantial interest savings and a decrease in the repayment period of the loan. If you require an extra amount to be paid through the Direct Debit Daily System, please notify the department in writing. The department cannot receive a payment which is more than it is entitled to take without your written permission.
Extra, or one-off payments, may also be paid via your payment card at any Australia Post Office or agency or by using B-Pay through telephone banking. You will find details of the department's Biller Code number and your reference number printed on your payment card next to the B-Pay logo.
What happens if the required payment (instalment) changes?
Monthly instalments can change due to a number of factors. No action is required if you only pay the required amount per deduction OR if you have requested a fixed amount per deduction and the new amount does not exceed the fixed amount you requested.
Action may be required if you have been paying an extra amount per instalment and you wish to increase or decrease this extra amount. Please contact the department in writing if you wish to make a change to this extra amount. If, however, you wish to remain paying this extra amount no action is required and it will automatically be added to your new instalment.
How do you stop payments?
To stop a payment, you should notify the Financial Systems section of the department by 3pm, two working days prior to the deduction day.
How do you apply for the Direct Debit System?
Download the Direct Debit Request form Direct Debit Request form , to download a copy of the form to fill in or telephone the Financial Systems section of the department on 3227 8734 or 1300 654 322 to obtain a copy.
Complete the Authority Form and mail to:
Financial Systems Section
Department of Housing and Public Works
GPO Box 690
Brisbane Qld 4001
You will then receive a letter detailing when the Direct Debit transfers will begin.
Please note: Until you receive this letter from the department, your payments will need to be made using your payment card at any office or agency of Australia Post.
To find out more detailed information about your repayment options, contact the department.