It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in the comments below!

 

[peterb6a]

My question is, is that legal for Westpac to block direct debit from a customer's account?

 

[kevinwoodtufftyke52@gmail]

It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

View attachment 26058

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in

 

[Vio Kot]

My question is, is that legal for Westpac to block direct debit from a customer's account?

Is it legal for a company to take out payment when asked to cancel that payment and you no longer need their service.

 

[Terese]

It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

View attachment 26058

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in the comments below!

great idea

 

[Jennie]

It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

View attachment 26058

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in the comments below!

Hope other banks take up the option. CBA are you listening.

 

[Trudi]

My question is, is that legal for Westpac to block direct debit from a customer's account?

Westpac does not block the transaction of it's own volition, it will do so on request from the account holder.

About 25 years ago, back in the dark ages of the internet and internet providers, I signed up with a provider and, as it was customary, I had to agree to direct debit. I was not happy with the service and contacted the provider to close my account but they continued to take money out of my bank account. I contacted the bank which told me that I could not stop a direct debit authorisation. In the end I contacted the banking ombudsman and the matter was finally resolved,

I found it incongruous that I, as the bank account holder, had no power to stop a direct debit from MY bank account!

Ever since then I have refused access to my bank account via direct debit!

 

[DotP]

Worked for Westpac and because the customer authorised the Direct Debit bank could not stop eg Gym membership cancellation , so this is great , customer gets control back over direct debit

 

[Tygie]

It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

View attachment 26058

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in the comments below!

Der. you just cancel them or better still refuse to set them up. too many fees.

 

[DotP]

Der. you just cancel them or better still refuse to set them up. too many fees.

We would have very unhappy customers who tried for up to 6 months to stop dire

 

[KSS]

Westpac does not block the transaction of it's own volition, it will do so on request from the account holder.

About 25 years ago, back in the dark ages of the internet and internet providers, I signed up with a provider and, as it was customary, I had to agree to direct debit. I was not happy with the service and contacted the provider to close my account but they continued to take money out of my bank account. I contacted the bank which told me that I could not stop a direct debit authorisation. In the end I contacted the banking ombudsman and the matter was finally resolved,

I found it incongruous that I, as the bank account holder, had no power to stop a direct debit from MY bank account!

Ever since then I have refused access to my bank account via direct debit!

And that is the very same reason I refuse to have any direct debits to a third party. I will not give access to my account to anyone.

 

[Ezzy]

Sounds good in theory. Would like to see how it goes here & if other banks employ this method.

 

[IAN3005]

It's a well-known fact of life that making impulse purchases can be tempting, and we here at the SDC know all too well the allure of a good bargain.

However, left unchecked, our impulsive habits can sometimes lead us into troublesome territory.

Think of those streaming services that we keep forgetting to cancel, only to get the shock of our lives when we see the bill arrive and the confirmed deduction of money directly from our bank account.

We've all been there, whether it's from a streaming services provider or another membership maker. But thank goodness we are not alone in this situation—and some help may finally be on the way!

Westpac recently announced that they are introducing a new feature that aims to offer customers more control over their streaming service subscriptions as an extension of their mobile and internet banking services.

View attachment 26058

Westpac would soon allow mobile and internet banking customers to stop certain scheduled direct debit payments. Credit: Shutterstock.

With this new feature, users can temporarily block any scheduled direct debit payments for streaming services they don't want or need. When activated, the services won't be able to withdraw money from the user's account.

This means people can have peace of mind knowing they are in full control of their finances and have the power to manage their spending habits more effectively. It's a great way to take charge of your money and ensure you only pay for the subscriptions you truly want.

Westpac Cash Director Mandy Rutherford made it clear how useful this feature would be for the nation's millions of users: 'With 5.5 million of our customers actively using digital banking, we are giving them more choice in how they manage direct debits.'

She added, 'Customers can now stop payment for a future direct debit in their app, giving them greater control over their money. This will be particularly handy if they have multiple streaming services or subscriptions that they decide are no longer needed.'

As well as having the option to suspend payments, customers could also cancel them completely. A block will stay in place for three years, meaning that the services in question can't automatically draw from a user's account at that time.

This new feature from Westpac is also in line with a similar system that can be found on the CBA's Commbank app and is seen as a positive move to supplement the fight against unexpected and unwanted charges.

The timing of this update also follows the implementation of Spotify's recent price increase of subscription services, as well as the unpopular but effective steps that Netflix has taken recently to reduce the instances of password sharing and increase its user base.

In addition to this new feature, Westpac has announced some other important updates, which will take effect on August 20. One change is that the default cash withdrawal limit will be capped at $1000. This decision is based on the fact that cash withdrawals have been decreasing across the country.

Another change is that the transaction limits for 'credit' payments will now have a default cap of $8000. Previously, customers could make payments up to their available balance, but now there will be a maximum limit.

However, these default limits are not fixed. Westpac customers will still have the flexibility to set different cash withdrawal limits according to their needs.

If you want to learn more about these updates, you can find the article here at this link.

Key Takeaways

• Westpac has announced a new banking feature allowing customers to control their direct debit payments.
• This feature will give users the ability to block specific scheduled payments, a move designed to assist in managing subscription services.
• The banking app also includes an option to cancel direct debit payments altogether, with Westpac notifying the relevant company upon customer request.
• The feature will also be available for sole traders and can be accessed both through the banking app and online.

Members, if you're having difficulty managing your payments, make sure that you take the time to familiarise yourself with Westpac's new feature and reap the benefits of more control over your spending. And, of course, be mindful of any subscription services that offer the tempting 'free trials'.

By taking small steps, we can ensure we are always in the best financial positions, and with this incredible new feature, Westpac is helping make the process easier.

What do you think about this feature? Would you like to see it implemented in other banks too? Share your thoughts with us in the comments below!

Westpac!!!!! id they were the last bank on earth I wouldn't USA them....