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Regular Payments Information

Visa Card – Regular Payment Arrangements

A “Regular Payment Arrangement” is where you provide a merchant with your Visa Card details and authorise the merchant to regularly charge you using the Visa Card.

1. You are encouraged to maintain a record of any “Regular Payment Arrangement” you elect to enter into with a merchant. An example of the information you may wish to record is set out in the Record of Regular Payment Arrangements table below.
2. To either change or cancel any “Regular Payment Arrangement” you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the “Regular Payment Arrangement” we must accept the merchant’s transaction. If possible you should retain a copy of your change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to a Dispute.
3. Should your card number be changed, i.e. as a result of lost or stolen card, you must request the merchant to change the details of your existing “Regular Payment Arrangement” to ensure arrangements continue. If you fail to undertake this activity your “Regular Payment Arrangement” either may not be honoured by us or the merchant may stop providing the goods and/or services.
4. Should you elect to close your card account or your account is closed by us you should contact the merchant to revise your “Regular Payment Arrangement” as the merchant may stop providing the goods and/or services.

What is a regular payment?

Regular payments can be either a recurring payment (e.g. direct debit) or an instalment payment. It is an agreement between you (the cardholder) and a merchant, where you preauthorise the merchant to bill your Visa Credit Card or Visa Debit Card at agreed intervals (e.g. monthly or quarterly). The amount of each payment may differ or be the same for each transaction.

For example:

You must ask your local gym to charge your monthly gym membership fee to your Visa Credit Card each month.

or

You may have purchased a new television from your local appliance store and agree to be billed by instalments using your Visa Debit Card.

What are the benefits of regular payments?

There are many benefits of regular payments, such as:

• Ensures timely payment of bills - no late fees
• Saves you time - the payment is processed automatically
• Can save you money - some merchants give discounts for direct debit.

Things you should know

You should keep a record of all your regular payment arrangements in a safe place. You can download a template for recording your regular payments by clicking here.

You are responsible for notifying the merchant when your account details change, including a change in your card number and/or change in your expiry date.

If you close your account, are issued with a new card (e.g. your card is lost or stolen), or receive a replacement card (e.g. your old card expires) , you should update your details with your merchant straight away.

Until you notify the merchant, we are required to process transactions from the merchant based on the details provided by the merchant.

This means that payments may be rejected if the details are not correct.

Click Here for a template of a letter to send to your merchant to change your account details. We recommend you also keep a copy for your records.

You will need your original agreement and any change letter if your merchant does not comply with your request in a timely manner and you decide to dispute incorrect regular payments.

Any problems with your regular payments, including failure by your merchant to act on a request to change your details, should be taken up directly with merchant first. If you need further assistance to resolve an issue between yourself and your merchant, please contact us.

Document Templates
Change of Card Account Details Letter Template
Regular Payments Template