To manage a direct debit on the Latitude App, you need to have the app downloaded on your device. Find out more here!
Please pay any overdue amount before setting up your direct debit as you cannot set up a direct debit if there is an outstanding amount. Click here if you need help paying via the Pay My Account feature on the Latitude App.
Follow the steps below to set up your direct debit:
1. Log into the Latitude App and tap on the account you wish to set a direct debit for. If you have other Latitude accounts, you will need to set up a direct debit for each Latitude product individually.
2. On the top right-hand corner of the screen, click on the menu and select Direct debit request > Set up direct debit request.
3. Select the amount you wish to pay each month. You can choose to set up your direct debit for one of the following amounts:
- Minimum monthly payment
- Modified or full closing balance
- Fixed amount
4. Follow the prompts to confirm your payment details. You’ll need your:
- Personal bank account number; and
- BSB number, which is a six-digit number that identifies an account's bank and branch.
You can find your BSB and account number on the front page of your bank statement or in your bank's internet banking. The first six digits are your BSB number, and the remaining digits are your account number.
Important: We can only accept bank account details that are:
- in the sole name of the account holder; or
- from a joint bank account which includes the name of the account holder, and the authority is 'Anyone to Sign'.
5. Review the details of your direct debit request and confirm by tapping I agree on the Terms and Conditions.
6. In the confirmation screen, scroll to the bottom and tap Done.
Your direct debit is all set up and running!
Funds from your direct debit will automatically come out of your nominated bank account on your payment due date.
You can see any payments due and its due date on your Latitude Account details screen, just above the Make a payment button, or on your statement under What to pay?
No. Scheduled or recurring direct debit is debited only once a month on your payment due date. You can make additional payments manually using the Latitude App or the Latitude Service Centre.
The scheduled direct debit will be withdrawn from your nominated bank account regardless of whether you have made additional payments prior to the payment due date, except where the scheduled direct debit will put your Latitude account into credit, in which case a lesser amount will be withdrawn to bring the account balance to zero.
No. If you don't have a balance to pay on your current statement, then no funds will be debited from your bank account.
If the fixed amount you nominated is less than your minimum monthly payment in any given month, Latitude will automatically increase the debited amount to equal the minimum monthly payment. This ensures your account does not fall into arrears.
Similarly, if your fixed payment amount exceeds your current account balance, Latitude will reduce the amount debited to only cover the account balance.
You can change your bank details or the amount you pay through the Latitude App!
1. Tap on your account. On the top right-hand corner of the screen, tap on the menu and select the Direct debit option.
2. Select Update direct debit and apply your changes to either the payment amount or your bank details.
3. Review the details of your direct debit request and confirm by tapping I agree on the Terms and Conditions.
4. A confirmation screen should display, scroll to the bottom and click Done.
Your updated direct debit takes effect straight away and your revised payment will come out on the payment due date of your current statement.
Please ensure you have available funds in your bank account when your direct debit is due. If you don't have enough funds in your nominated bank account, your direct debit payment will be dishonoured.
Note: There may be a late fee and a payment dishonour fee charged if your direct debit payment is dishonoured and repeated dishonours will result in the facility being cancelled.
For credit cards that enable you to purchase eligible items using retail finance plans or that offer similar finance plans such as balance transfers, you have the option to pay the following amounts on your statement:
- Total Due, being the minimum amount you can pay.
- Full or Modified Closing Balance, which is made up of amounts you must pay on any current retail finance plans and any interest-bearing purchases and cash advances, plus any overdue and overlimit amounts outstanding.
- A fixed amount that will be the same each month (provided it’s between the minimum payment and the closing balance).
Your monthly repayment will be made up of amounts you must pay on any current retail finance plans and any interest-bearing purchases and cash advances.
If you purchased an item on:
- Flexible plan: no repayments will be taken from your bank account for that purchase until the plan ends, at which point you will begin making payments on that purchase.
- Equal Monthly plan: you will be paying the equal monthly instalment amount for that purchase.
- Minimum Monthly plan: you will be required to pay the minimum monthly payment due on that purchase.
The Full or Modified Closing Balance payment option will pay off your plan by expiry regardless of the repayment schedule (i.e. minimum monthly payment, monthly instalments or Buy now pay later).
However, unless a plan requires payment of equal monthly instalments, the payments will leave a balloon payment in the last month when the plan expires, which may exceed 50% of the balance, depending on plan type and length, and may equal 100% of the plan balance for Buy now pay later plans.
Make sure you monitor your account balance and upcoming payments due, and ensure you have enough funds available for the direct debit.
Things to note:
- If you choose not to pay an interest free plan in full by the time it expires, you will incur interest on the remaining balance.
- If paying the Full or Modified Closing Balance, promotional interest-bearing plans will be paid out in the statement period following the expiry of the promotional interest period. This means you will incur one month of interest at the non-promotional annual percentage rate on the outstanding balance.
- Payments received will be allocated according to the rules outlined in the General Terms & Conditions for your product.
- You should be aware that for products offering sales finance or balance transfer plans, a payment may not be equally distributed across all promotional plans on your account but rather, after instalments, cash advances and retail purchases are covered, it will be allocated to a plan that is interest bearing or, if no plans are interest bearing, the plan expiring soonest - meaning some plans may not have any portion of a payment applied in a given month.
- If you wish to distribute payments across multiple interest-free plans, according to your own preferences, then provided the minimum monthly payment has been made, you can use the payment allocation feature in the Latitude App or Latitude Service Centre to allocate payments to specific plans. Note that doing so may increase the amount of interest you will pay over time on the total balance of your account.
To cancel your direct debit in the Latitude App:
- Tap on your account. On the top right-hand corner of the screen, select Direct debit request > Cancel direct debit.
- A confirmation screen will appear, click Done to cancel.
Your direct debit is cancelled immediately but you must cancel it prior to 9pm on your payment due date to avoid the payment being processed.
If you are having any trouble with your direct debit, you can get in contact with one of our support staff by clicking the icon at the bottom right of this page.