Common use of MAKING PAYMENTS BY DIRECT DEBIT Clause in Contracts

MAKING PAYMENTS BY DIRECT DEBIT. Making payments by direct debit You can set up a direct debit to make regular payments and fee payments required under a loan with us. You should check with your financial institution if direct debit is available from your nominated account before submitting a direct debit request. We will arrange for the money to be debited from a nominated account into your HSBC account as authorised in your direct debit request. You must ensure you provide us with correct debit account details. You must also ensure you have sufficient money in your account on the direct debit date for it to be made. If you don’t, the direct debit will be rejected, you may incur fees (to cover our reasonable costs incurred, and your bank may also charge you) and you must arrange for your account to have sufficient money within the next 7 days or make the payment using another method. This may also impact your agreement relating to the payment. We will provide you with 14 days’ written notice if we make changes to your direct debit request with us. You may also authorise other merchants to direct debit your HSBC account to collect payment. You can also ask us to give you a list of the direct debits and recurring payments that you’ve made for up to 13 months. Direct debit errors You should contact us as soon as possible if you believe there is an error in debiting your account. We will investigate this. If we find there was an error, we will contact your other bank and ask them to adjust your account (including any interest and charges) and let you know the outcome. If the error is due to incorrect details you provided us, and we have debited an account that doesn’t belong to you, we may charge you a fee to cover our reasonable costs incurred in fixing this and will return the money to the relevant account. Cancelling a direct debit See clause 19 of this booklet for how to cancel a direct debit. Your responsibility to update your direct debit If you give someone else a direct debit authorisation, and you change your card or account details, it is your responsibility to update your direct debit request. If you do not, your payments may fail, and you may incur late payment fees.

MAKING PAYMENTS BY DIRECT DEBIT. Making payments by direct debit You can set up a direct debit to make regular payments and fee payments required under a loan with us. You should check with your financial institution if direct debit is available from your nominated account before submitting a direct debit request. We will arrange for the money to be debited from a nominated account into your HSBC account as authorised in your direct debit request. You must ensure you provide us with correct debit account details. You must also ensure you have sufficient money in your account on the direct debit date for it to be made. If you don’t, the direct debit will be rejected, you may incur fees (to cover our reasonable costs incurred, and your bank may also charge you) and you must arrange for your account to have sufficient money within the next 7 days or make the payment using another method. This may also impact your agreement relating to the payment. We will provide you with 14 days’ written notice if we make changes to your direct debit request with us. You may also authorise other merchants to direct debit your HSBC account to collect payment. You can also ask us to give you a list of the direct debits and recurring payments that you’ve made for up to 13 months. Direct debit errors You should contact us as soon as possible if you believe there is an error in debiting your account. We will investigate this. If we find there was an error, we will contact your other bank and ask them to adjust your account (including any interest and charges) and let you know the outcome. If the error is due to incorrect details you provided us, and we have debited an account that doesn’t belong to you, we may charge you a fee to cover our reasonable costs incurred in fixing this and will return the money to the relevant account. Cancelling a direct debit See clause 19 (‘Cancelling or changing payments (other than cheques)’) of this booklet for how to cancel a direct debit. Your responsibility to update your direct debit If you give someone else a direct debit authorisation, and you change your card or account details, it is your responsibility to update your direct debit request. If you do not, your payments may fail, and you may incur late payment fees.