This Service Agreement and the Schedule contained in the relevant disclosure contain the terms and conditions on which you authorise MLC to debit money from your account and the obligations of MLC and you under this agreement. You should read through the Service Agreement and Schedule carefully to ensure you understand these terms and conditions.
You should direct all enquiries about your direct debit to the MLC Client Service Centre on 132 652 between 8 am and 6 pm (AEST/ADST) on any business day.
Our commitment to you
- We will give you at least 14 days’ notice in writing if there are changes to the terms of drawing arrangements or if we cancel the drawing arrangements.
- We will keep the details of your nominated financial institution account confidential, except if it is necessary to provide your details to our bank for the purpose of conducting direct debits with your bank.
- Where the due date is not a business day, we will draw from your nominated financial institution account on the business day before or after the due date in accordance with the terms and conditions of your MLC account.
Your commitment to us
It is your responsibility to:
- ensure your nominated financial institution account can accept direct debits
- ensure there is sufficient money available in the nominated financial institution account to meet each drawing on the due date
- advise us if the nominated financial institution account is transferred or closed, or the account details change. MLC requires a minimum of 7 working days’ notice of change for banks and 21 days for Building Societies
- arrange an alternate payment method acceptable to MLC if MLC cancels the drawing arrangements, and
- ensure that all account holders on the nominated financial institution account sign the Schedule.
Your rights
You should contact us if you wish to alter the drawing arrangements. This includes:
- stopping an individual drawing
- deferring a drawing
- suspending future drawings
- altering the Schedule, and
- cancelling the Schedule.
Where you consider that a drawing has been initiated incorrectly, you should first contact the MLC Client Service Centre on 132 652.
Other information
- The details of your drawing arrangements are contained in the Schedule.
- MLC reserves the right to cancel drawing arrangements if drawings are dishonoured by your financial institution.
- If your drawing dishonours, your financial institution may charge you a fee. MLC does not currently charge for dishonours but reserves the right to do so in the future.
- Your drawing arrangements are also governed by the terms and conditions of your MLC account.
Issued by the Trustee: NULIS Nominees (Australia) Limited ABN 80 008 515, 633 AFSL 236465 (NULIS) and MLC Investments Limited ABN 30 002 641 661, AFSL 230705 (MLCI). NULIS and MLCI are part of the Insignia Financial Group of Companies, comprising Insignia Financial Holdings Ltd ABN 49 100 103 722 and its related bodies corporate (Insignia Financial Group)
