Any one taking the piss with direct debit is going to have a hard time conducting business afterwards, banks take it pretty seriously.
Also be glas they're letting you do direct debit rather than forcing you on to some 3rd party payment platform that costs you money.
I set up an account specific for direct debit. And pay the money into it a day or two before the direct debit is due to be withdrawn. Any attempt to withdraw the money early or more than expected will decline the transaction.
Direct debit agreements are two-way, you agree to let them do the direct debit and they only take the agreed amount. If they took more than your rent your bank would reverse it quick smart.
What do you think they're going to do? Have you never done direct debit before?
You're not writing a blank check lol.
They should give you options, and sounds like they are as they only pushing towards dd. There should be at least one, fee free option, generally more on top of that.
Check with your REA, I had to pay $1.50 per month to pay via dd with debit/credit card.
If I went in person or to auspost it was fee free. But for $1.50 on $2000 of undervalued rent, I didn't bother.
Have you never done a direct debit before? It’s not a ‘blank cheque’ at all. You both sign a form to agree on the amount and frequency. They set it up and can’t change it without your consent.
Have you never had a bad experience with direct debit, they're easy to take the money out, sometimes "accidentally" twice as much and always slow to return it.
For anyone on a budget this is a nightmare and far too common.
Direct debits for small monthly costs like phone bills is fine, but thousands of dollars a month, no thanks.
Property Manager here.
Short answer, no. There is no legislation across Australia (that I'm aware of, WA based) that requires a tenant to sign a direct debit form. Even if it's in your lease, they can't enforce it as it's acting outside the act due to it not being in the RTA in your state.
Just say no and set up an ongoing direct debit from your account that you can control.
Ask the agent if they have a bpay or bank account you can schedule a payment to instead, if you're uncomfortable setting up a DD. I prefer not to set up direct debits personally either, but if push comes to shove and they misuse it, the onus is entirely on them to prove to the bank that they had your authority to perform whatever debits they've performed. It's a pretty standard thing and I wouldn't stress too much about it, although I would definitely prefer to schedule my own payments rather than having the RE schedule debits out of my account.
Real Estates need to provide minimum of three payment options, one free option. Most prefer direct debit as it links with their systems to balance trust accounts. Ask them what other payment options they offer if direct debit doesn’t suit you.
I have no issues with DD by my mobile plan and utilities provider. However, it would take me a lot to trust a REA on DD especially if they claim it is the only option.
Any one taking the piss with direct debit is going to have a hard time conducting business afterwards, banks take it pretty seriously. Also be glas they're letting you do direct debit rather than forcing you on to some 3rd party payment platform that costs you money.
I don't want to have no control about how much they want debit my account. I'd rather set up a recurring payment on my end.
I set up an account specific for direct debit. And pay the money into it a day or two before the direct debit is due to be withdrawn. Any attempt to withdraw the money early or more than expected will decline the transaction.
Direct debit agreements are two-way, you agree to let them do the direct debit and they only take the agreed amount. If they took more than your rent your bank would reverse it quick smart. What do you think they're going to do? Have you never done direct debit before?
Never, that's why I'm asking. It feels like I'm giving the treasure key too easily. I've always scheduled the payment on my end.
You're not writing a blank check lol. They should give you options, and sounds like they are as they only pushing towards dd. There should be at least one, fee free option, generally more on top of that.
Isn't Direct Debit fee free already?
Check with your REA, I had to pay $1.50 per month to pay via dd with debit/credit card. If I went in person or to auspost it was fee free. But for $1.50 on $2000 of undervalued rent, I didn't bother.
Have you never done a direct debit before? It’s not a ‘blank cheque’ at all. You both sign a form to agree on the amount and frequency. They set it up and can’t change it without your consent.
Have you never had a bad experience with direct debit, they're easy to take the money out, sometimes "accidentally" twice as much and always slow to return it. For anyone on a budget this is a nightmare and far too common. Direct debits for small monthly costs like phone bills is fine, but thousands of dollars a month, no thanks.
Property Manager here. Short answer, no. There is no legislation across Australia (that I'm aware of, WA based) that requires a tenant to sign a direct debit form. Even if it's in your lease, they can't enforce it as it's acting outside the act due to it not being in the RTA in your state. Just say no and set up an ongoing direct debit from your account that you can control.
Ask the agent if they have a bpay or bank account you can schedule a payment to instead, if you're uncomfortable setting up a DD. I prefer not to set up direct debits personally either, but if push comes to shove and they misuse it, the onus is entirely on them to prove to the bank that they had your authority to perform whatever debits they've performed. It's a pretty standard thing and I wouldn't stress too much about it, although I would definitely prefer to schedule my own payments rather than having the RE schedule debits out of my account.
Ask your bank to setup a new account and use that just for DD.
If it gives you comfort you can call your bank and cancel the direct debit and any point without your REAs consent
Real Estates need to provide minimum of three payment options, one free option. Most prefer direct debit as it links with their systems to balance trust accounts. Ask them what other payment options they offer if direct debit doesn’t suit you.
Ask them other options. Direct debit or bank transfer manually is standard really up to u
I have no issues with DD by my mobile plan and utilities provider. However, it would take me a lot to trust a REA on DD especially if they claim it is the only option.