Making payments on your loan has never been easier or quicker than with direct debit. It’s a simple, automatic way to stay on top of your repayments, and best of all, it’s free!
When you set up direct debit, we’ll automatically debit your nominated bank account and credit your loan account according to your preferred schedule.
Setting Up a Direct Debit
You can set up direct debit by completing our Set Up a Direct Debit form. Here’s what you’ll need:
1. Your Details
Provide your personal details, including:
- Email address
- Name
- Date of birth
- Address
- Mobile number
- Latitude loan account details (e.g., last four digits and type of loan, which can be found in the LatitudeMoney Servicing Portal).
If you’re not yet registered on the LatitudeMoney Servicing Portal, learn how to register here.
2. Payment Preferences
- Choose how often you’d like to make payments: weekly, fortnightly, or monthly.
- Select your payment amount (minimum repayment or an additional amount).
3. Bank Account Details
- Provide details exactly as they appear on your bank statement.
- We can only accept a bank account in your name or joint accounts that include your name.
Important to Know
- Confirmation Email: After submitting the form, you’ll receive a confirmation email with your request ID. Please note, this does not guarantee the request has been processed.
- Processing Time: Direct debit requests can take 3–5 business days to be actioned.
- Repayment Consistency: Direct debit payments will occur as scheduled, even if you make additional payments to your account.
- Further Information: If we need more details, we’ll contact you using the information you’ve provided.
Cancelling a Direct Debit
If your circumstances change, you can cancel your direct debit via our Cancel Direct Debit form.
You will need to fill in your personal details (e.g., email, name, date of birth, address, and mobile number) and well as your Latitude loan account details.
Once you’ve submitted your request, you’ll receive a request ID as confirmation.
Things to Keep in Mind
- Cancelling Doesn’t Cancel Your Loan Contract: If your loan contract is still active, you’ll need to make alternative payment arrangements.
- Hardship Care: If you're finding it difficult to manage your Latitude repayments, our Hardship Care team is ready to assist you in getting back on track.
- Reinstating a Direct Debit: To set up a direct debit again in the future, you’ll need to complete a new Set Up a Direct Debit form.