New Zealand (NZ_BECS_DEBIT)

The title should clearly inform your connected account customers that they are linking an external bank account to set up direct debit.

You must ask the external bank account owner (or display their previously entered):

• Bank account name
• Bank account number
• Bank account owner email address

The connected account customers should be given a prompt to confirm that their bank account details are correct before submitting the linked bank account.

There must be a checkbox or a similar mechanism for the external bank account owner to confirm that they have sole authority over the account.

The following text must be displayed:

Direct Debit Authority

I authorise Airwallex (New Zealand) Limited (“Airwallex”) as initiator to debit my account with the amounts of direct debits from NAME OF ACCOUNT with the authorisation code AUTH CODE in accordance with this authority until further notice. I agree that this authority will take effect immediately.

I agree that this authority is subject to:

• The bank's terms and conditions that relate to my account, and
• The specific terms and conditions listed below.

I may ask my bank to reverse a direct debit up to 9 months after the date the initiator sent the first direct debit under the authority if I am not reasonably satisfied that the authority authorised my bank to debit my account with the amount of the direct debit.

I confirm that I have sole authority over my account.

Specific conditions relating to notices and disputes

• I may ask my bank to reverse a direct debit up to 120 calendar days after the debit if:
• I don’t receive a written notice of the amount and date of each direct debit from the initiator, or
• I receive a written notice but the amount or the date of debiting is different from the amount or the date specified on the notice.

The initiator may only send a direct debit if you have:

• asked the initiator to send it, and
• agreed the amount of the direct debit.

The initiator is required to give you a written notice of the amount and date of each direct debit no less than the date of the debit.

If the bank dishonours a direct debit but the initiator sends the direct debit again within 5 business days of the dishonour, the initiator is not required to give you a second notice of the amount and date of the direct debit.

It is recommended that you provide a confirmation page to your connected account customers at the end of the process to inform them that direct debit has been successfully set up for the linked bank account.