Print Direct Debit

You acknowledge that:

  1. By agreeing to the Direct Debit Request, by the method presented, you authorise us to arrange for funds to be debited from your Account in accordance with the Agreement
  2. This Agreement will remain in full force and effect in respect of all Direct Debits passed to your account in good faith notwithstanding your death, bankruptcy or other revocation of this Agreement until actual notice of such event is received by your financial institution.
  3. In any event this Agreement is subject to any arrangement now or hereafter existing between you and the financial institution in relation to your account.
  4. Any dispute as to the correctness or validity of an amount debited to your account shall not be the concern of the financial institution except in so far as the Direct Debit has not been paid in accordance with this Agreement. Any other disputes lie between you and us.
  5. Where the financial institution has used reasonable care and skill in acting in accordance with this Agreement, it accepts no responsibility or liability in respect of:
    1. The accuracy of information about Direct Debits on Bank statements; and
    2. Any variations between notices given by us and the amounts of Direct Debits.
  6. The financial institution may:
    1. In its absolute discretion conclusively determine the order of priority of payment by it of any monies pursuant to this or any other Agreement, cheque or draft properly signed by you and given to or drawn on the Bank.
    2. At any time terminate this Agreement as to future payments by notice in writing to you.
    3. Charge its current fees for this service in force from time to time.
    4. Upon receipt of an ‘’authority to transfer form’’ signed by you from a bank to which your account has been transferred, transfer to that bank this Authority to Accept Direct Debits.


    Definition:

  • account means the account held at your financial institution from which we are authorised to arrange for funds to be debited.
  • agreement means this Direct Debit Request Service Agreement between you and us.
  • banking day means a day other than a Saturday or a Sunday or a public holiday listed throughout Australia.
  • debit day means the day that payment by you to us is due.
  • debit payment means a particular transaction where a debit is made.
  • direct debit request means the Direct Debit Request between us and you.
  • us or we means Crowd88 Pty Ltd (the Debit User) you have authorised by requesting a Direct Debit Request.
  • you means the customer who has agreed or authorised by other means the Direct Debit Request.
  • your financial institution means the financial institution nominated by you on the Direct Debit Request at which the account is maintained.


    Debiting your account

  1. By agreeing to the Direct Debit Service Request Agreement when your tick the box on the Crowd88 website, your have authorised us to arrange for funds to be debited from your account. You should refer to this Agreement for the terms of the arrangement between us and you.
  2. We will only arrange for funds to be debited from your account as authorised in the Direct Debit Service Request Agreement.
  3. If the debit day falls on a day that is not a banking day, we may direct your financial institution to debit your account on the following banking day. If you are uncertain as to when the debit will be processed to your account, you should enquire directly to your financial institution.

  4. Amendments

  5. Amendments by us: We may vary any details of Direct Debit Service Request Agreement at any time by giving you at least fourteen (14) days written notice.
  6. Amendments by you: If you would like to withdraw or make a change to your direct debit details, please contact Crowd88 on +61 2 9993 4488 or at info@crowd88.com.

  7. Your obligations

  8. It is the responsibility of you to have sufficient clear funds available in the relevant account, by the due date, to allow for the payment of Debit Items according to the relevant instructions provided by you.
  9. If there are insufficient clear funds in your account to meet a debit payment:
    1. you may be charged a fee and/or interest by your financial institution;
    2. you may also incur fees or charges imposed or incurred by us; and
    3. you must arrange for the debit payment to be made by another method or arrange for sufficient clear funds to be in your account by an agreed time so that we can process the debit payment.
  10. You should check your account statement to verify that the amounts debited from your account are correct.

  11. Our obligations

  12. It is our obligation to only debit your account after you agree to the Direct Debit Service Request Agreement when you tick the box on the Crowd88 website.
  13. We undertake to send you an email detailing each debit amount after your investment. The email must include the following message:

    “The amount $....... will be directly debited from your Bank account.”


  14. Disputes

  15. If you believe there has been an error in debiting your account, you should notify us directly on +61 2 9993 4488 or email: info@crowd88.com and confirm that notice in writing with us as soon as possible so that we can resolve your query quickly. Alternatively you can take it up directly with your financial institution.
  16. If we conclude as a result of our investigations that your account has been incorrectly debited we will respond to your query by arranging for your financial institution to adjust your account (including interest and charges) accordingly. We will also notify you in writing of the amount by which your account has been adjusted.
  17. If we conclude as a result of our investigations that your account has not been incorrectly debited we will respond to your query by providing you with reasons and any evidence for this finding in writing.

  18. Accounts

  19. You should check:
    1. with your financial institution whether direct debiting is available from your account as Direct Debit through BECS is not available on all accounts offered by financial institutions.
    2. your account details which you have provided to us are correct by checking them against a recent account statement from your financial institution.

  20. Confidentiality

  21. We will keep any information (including your records and account details) confidential. We will make reasonable efforts to keep any such information that we have about you secure and to ensure that any of our employees or agents who have access to information about you do not make any unauthorised use, modification, reproduction or disclosure of that information.
  22. We will only disclose information that we have about you:
    1. to the extent specifically required by law; or
    2. for the purposes of this Agreement (including disclosing information in connection with any claim or query relating to an alleged incorrect or wrongful debit).

  23. Notice

  24. If you wish to notify us in writing about anything in this Agreement, you should write to:

    Crowd88 Pty Ltd

    Level 12, 179 Elizabeth St

    Sydney NSW, 2000 Australia

    Email: info@crowd88.com

  25. We may send notices either electronically to your email address or by ordinary post to the address you have given us. If sent by mail, communications are taken to be received on the day they would be received in the ordinary course of post.
  26. Any notice will be deemed received on the third banking day after emailing or posting.

    The Initiator:

  1. Will provide notice either:
    1. In writing; or
    2. by electronic mail where the Customer has provided prior written consent to the Initiator.
  2. Has agreed to give advance Notice of the net amount of each Direct Debit and the due date of the debiting at least 10 calendar days (but not more than 2 calendar months) before the date when the Direct Debit will be initiated.
    1. The advance notice will include the following message:

      “Unless advice to the contrary is received from you by (date*), the amount of $........... will be directly debited to your Bank account on (initiating date*).”

    2. * This date will be at least two (2) days prior to the initiating date to allow for amendment of Direct Debits.
  3. Alternatively, the Initiator undertakes to give notice to the Acceptor of the commencement date, frequency and amount at least 10 calendar days before the first Direct Debit is drawn (but no more than 2 calendar months).
    1. Where the Direct Debit System is used for the collection of payments which are regular as to frequency, but variable as to amounts, the Initiator undertakes to provide the Acceptor with a schedule detailing each payment amount and each payment date.
    2. In the event of any subsequent change to the frequency or amount of the Direct Debits, the Initiator has agreed to give advance notice of at least 30 days before the change comes into effect. This notice must be provided either:
      1. In writing; or
      2. By electronic mail where the Customer has provided prior written consent to the Initiator”.
  4. May initiate a Direct Debit on my/our account when authorisation is received from me/us in accordance with the terms and conditions agreed between me/us and the Initiator of each amount to be debited from my/our account.
    1. Notice will be sent of the net amount of each Direct Debit and the due date of debiting after receiving authorisation from me/us under Clause 4 but no later than the date the Direct Debit will be initiated. This notice must be provided either:
      1. In writing; or
      2. By any other means which provides a verifiable record of the initiated transaction and where the Customer has provided prior written consent to the Initiator.
    2. Where the notice is in writing it must include the following message:

      “The amount $....... was directly debited to your Bank account on (initiating date).”

    3. Where the notice is provided by other means:
      1. The Initiator should hold prior written consent of those means of providing notice; and
      2. The notice should provide a verifiable record of the initiated transaction and include the amount and initiating date of that transaction.
  5. May, upon the relationship which gave rise to this Instruction being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Instruction. Upon receipt of such notice the Bank may terminate this Instruction as to future payments by notice in writing to me/us.
  6. May rely on this authority to debit a different bank account upon receipt of instructions from the customer via a bank to which their account has been transferred.

  7. The Customer may:

  8. At any time, terminate this Instruction as to future payments by giving written (or by the means previously agreed in writing) notice of termination to the Bank and to the Initiator.
  9. Stop payment of any Direct Debit to be initiated under this Instruction by the Initiator by giving written notice to the Bank prior to the Direct Debit being paid by the Bank.
  10. Where no advance notice is provided under Clause 4 a variation to the amount agreed between the Initiator and the Customer from time to time to be Direct Debited had been made without notice being given in terms of Clause 4 above, request the Bank to reverse or alter any such Direct Debit initiated by the Initiator by debiting the amount of the reversal or alteration of Direct Debit back to the Initiator through the Initiator’s Bank provided such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account.
  11. Request the Bank to reverse any Direct Debits initiated by the Initiator under the Instructions by debiting the amount of the Direct Debits back to the Initiator through the Initiator’s Bank where the Initiator cannot produce a copy of the Instructions and/or Confirmation to me/us that I/we are reasonably satisfied demonstrate that I/we have authorised my/our bank to accept Direct Debits from the Initiator against my/our account PROVIDED the request is made not more than 9 months from the date when the first Direct Debit was debited to my/our account by the Initiator under the Instructions.

  12. The Customer acknowledges that:

  13. This Instruction will remain in full force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this Instruction until actual notice of such event is received by the Bank.
  14. In any event this Instruction is subject to any arrangement now or hereafter existing between me/us and the Bank in relation to my/our account.
  15. Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the Bank except in so far as the Direct Debit has not been paid in accordance with this Instruction. Any other disputes lie between me/us and the Initiator.
  16. Where the Bank has used reasonable care and skill in acting in accordance with this Instruction, the Bank accepts no responsibility or liability in respect of:
    1. The accuracy of information about Direct Debits on Bank statements; and
    2. Any variations between notices given by the Initiator and the amounts of Direct Debits.
  17. The Bank is not responsible for, or under any liability in respect of the Initiator’s failure to give notice in accordance with Clauses 1 to 4, nor for the non-receipt or late receipt of notice by me/us for any reason whatsoever. In any such situation the dispute lies between me/us and the Initiator.
  18. Where notice given by the Initiator in terms of Clause 4 to the debtor responsible for the payment shall be effective. Any communication necessary because the debtor responsible for payment is a person other than me/us is a matter between me/us and the debtor concerned.

  19. The Bank may:

  20. In its absolute discretion conclusively determine the order of priority of payment by it of any monies pursuant to this or any other Instruction, cheque or draft properly signed by me/us and given to or drawn on the Bank.
  21. At any time terminate this Instruction as to future payments by notice in writing to me/us.
  22. Charge its current fees for this service in force from time to time.
  23. Upon receipt of an "authority to transfer form" signed by me/us from a bank to which my/our account has been transferred, transfer to that bank this Authority to Accept Direct Debits.