Cancelling Scheduled Payments
If you've set up automatic payments for things like rent or savings deposits, you can cancel them yourself through your banking app or website. Make sure that you do this at least one business day in advance of the scheduled payment so the next payment doesn't get processed during the transition period.
I tried to cancel a credit card recurring payment.
However my bank pointed out that clause 19.1 of the 2013 code isn’t to do with credit cards or direct debits. They also pointed out that credit card recurring payments (as opposed to direct debits, which are direct from bank accounts) doesn’t have an unconditional cancelling clause.
Therefore since I had originally agreed to the recurring payment, and even though in the meantime my credit card had expired and a new one was issued, and I hadn’t provided the merchant with the new expiry date, they refused to cancel the credit card recurring payment. They said I had to get the merchant to cancel it.
Therefore how do I cancel this recurring payment?
Hi Jussy,
Thanks for getting in touch with finder. I hope all is well with you. :)
There’s a slight difference between the process of canceling a direct debit from a bank account and a credit card. In your case, the first step you need to take is to get in touch with the concerned merchant. A call, email, or letter should be sufficient to notify your merchant. Ask them formally to cancel your credit card payment arrangement.
After doing so, you can now contact your bank and send them a copy of the agreement you just made with the merchant. After a few days, you may then check with your provider if they indeed cancelled the direct debit.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
I want to cancel direct debit from my personal which is linked to credit card account…. How do I go doing this? As every time I reach the support team on call they are not able to help me…. Plz provide with the solution
Hello Syed,
Thank you for your comment.
The steps you can see above are for cancelation of debit card linked to a credit card. You must contact your credit card provider and instruct it to cancel the direct debit in question. You can check with your provider’s website contact us page to contact them or call them on the contact numbers displayed.
Regards,
Jhezelyn
i want to know that how can i write a letter for cancel debit card
Hi Dinesh,
Thanks for your question.
As your debit card gives you access to your transaction account, you can just write a basic letter informing the bank of your name, account number, and account information and the date you want your debit card canceled. If you would also like to cancel your transaction account you can refer to – How to close your Australian bank account article.
I hope this has helped.
Thanks,
Elizabeth
How must I write the letter to inform my insurance provider not to debit my account for six months, but not to be cancelled due to my contract ending as a temporary employee?
Hi Kgauhelo. Thanks for your question. You may need to wait until the time you wish to cancel the direct debit, as the insurance provider may not be able to arrange a future cancellation of direct debit. The best thing to do is to give them a call and find out what their policy is. Otherwise, please use the example on this page to draft a letter to your provider. Jacob.