Compliance Requirements

Owned by chitra.b (Unlicensed)
Last updated: Aug 10, 2022 by Maddy.L (Unlicensed)
3 min read

This page details what you need to show and capture, when onboarding a customer, to ensure your sign up process is compliant with the relevant direct debit and credit card rules for billing.

It is important to ensure your onboarding process is compliant and ideally, you are capturing evidence of this (for example, a capture of the completed sign up form with agreements ticked) otherwise in the case of a customer disputing payments the bank will rule in favour of them and give back the money collected.

Customer Details

You must collect and display the customer’s details:

  • name, date of birth, gender, physical address, email address, and phone number.

If you plan to sign up customers under 18 years of age you would need to ensure that you also capture details of a guarantor. The guarantor information can be submitted to Debitsuccess through the appropriate web service/API message.

Payment Details

You must clearly display the payment details including the:

  • minimum payment period, instalment amount, frequency of instalment, first payment date, and the total value of the contract.

Fees

You must display all fees that are being passed onto the customer on the sign-up page:

  • Fees – Administration fee, Joining fee

Payment Options

You must display the payment options.

You can choose to support both credit card and bank account payment options, or any one of them.

Credit Card:  

  • CC Number, Name on CC, Expiry Date, Card Type i.e., Visa, Master Card, Amex

Bank Account:

  • Name of Financial Institute/Depository Bank, Branch, Account Name, Account Number, and the following declaration with the Direct Debit logo.

Bank account payment declaration for New Zealand:

Authorisation Code: 0132745

“I/We confirm that I have authority over this bank account, and that it can be operated severally. I/We authorise you until further notice to debit my/our account with all amounts which Debitsuccess Limited, the registered initiator of the above Authorisation Code, may be initiated by Direct Debit. I/We acknowledge and accept that the bank account accepts this authority only upon the conditions set out in this form.”

Bank account payment declaration for Australia:

 

Terms and Conditions

You must display the Debitsuccess Terms and Conditions and must be mandatory to “positively accept” it, for both credit card and bank account payment options.

Declaration

You must display the following final declaration to the customer on the sign-up page (for both credit card and bank account payment options):

  1. The following declaration should be included for New Zealand and Australia:

2. Must be mandatory to “positively accept” the declaration.

 

 

 

 

 

 

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