When setting up Direct Debits, you can choose from different schedule types depending on how you want payments to be collected. Some schedules stop after a set date or after a specific number of payments, while others continue collecting the same amount until cancelled. There is also an ad hoc option that allows payments to be added and collected only when needed.
Types of schedule
There are four types of schedules you can use when setting up Direct Debits:
An end on exact date schedule collects payments up to a specific end date. Once that date is reached, no more payments are taken.
A number of debits schedule collects a set number of payments. When that number has been collected, the schedule stops.
A rolling schedule collects the same payment amount on a continuous basis and will only end when either party cancels the Direct Debit.
An ad hoc schedule does not have a fixed frequency or amount. Instead, payments are added manually and collected whenever required.
Available collection frequencies
Fixed and rolling schedules can use the following frequencies:
Annually
Biyearly
Quarterly
Monthly
Fortnightly
Weekly
If you'd like an additional frequency added to your schedules, please reach out to our support team and request to speak to an agent.