Why is the process for closing a regular payment different if I have arranged it on my credit or debit card ?
Why is the process for closing a regular payment different if I have arranged it on my credit or debit card (called a “recurring payment”) rather than my bank account (called a “direct debit”)?
Recurring Payment instructions using a Suncorp Bank Visa debit card or Suncorp Bank Clear Options Credit Card is processed through the Visa card payment system to your service provider’s merchant system (i.e. Visa, Mastercard, American Express, Diners). Card scheme rules require that a customer must first contact merchants (i.e. your service provider) before Suncorp Bank can act on instructions to cancel recurring payments.
Direct Debits set up on your Suncorp Bank account means the transaction amount is debited from your specific account, as authorised by you. It is then processed through the Bulk Electronic Clearing System (BECS). Since this process is managed by Suncorp Bank, you can notify us if you’d like your direct debit cancelled when it is set up on your own account number.
