Agreement Quick Facts
Clearance Timing: Repayments are debited on your specified date. Please ensure funds are cleared by 5:00 PM the business day prior.
Advance Warning: We will notify you at least 14 days in advance of any material modifications to debit terms or schedules.
Direct Debit Service Agreement
Effective Date: September 2024 | Version: DD-NZ-2024-V1
This agreement sets out how direct debits work between you and FG Finance Limited — what you can expect from us, and what we need from you — once you set up an automatic payment authority for your premium funding. It applies to direct debits taken from New Zealand bank accounts through the usual clearing banks (ANZ, ASB, Westpac, BNZ, Kiwibank and others).
1. What you can expect from us
We'll draw your repayments from the account you nominate, following the schedule in your Offer to Borrow for Insurance Premiums (or any later approved change to it).
- Weekends and holidays: if a payment date lands on a Saturday, Sunday or a New Zealand public holiday (including regional anniversary days), your bank will process the debit on the next business day.
- Changes with notice: we'll give you at least 14 days' written notice before changing the amount, timing or terms of your direct debit.
- Your privacy: we keep your account, card and transaction details secure, and only share them where it's needed to clear payments, run credit checks, or where New Zealand law requires it.
2. What we need from you
When you sign a Direct Debit Authority or accept online, you're agreeing to:
- Use an eligible account: make sure the account you nominate accepts direct debits. Some savings, investment or credit accounts don't — check with your bank if you're unsure.
- Have the funds ready: please have cleared funds available by 5:00 PM on the business day before each payment date.
- Cover returned payments: if a payment is returned unpaid (for example, not enough funds), a $30.00 NZD dishonour fee is added to your balance and default interest may start to apply.
3. Changing or pausing a payment
To move, change or stop an upcoming direct debit, let us know in writing at least 5 business days before the payment date.
Email us at admin@fgfinance.co.nz, or ask your insurance broker to submit the change through our broker portal.
4. If something looks wrong
If you think a debit was taken in error, for the wrong amount, or on the wrong date, contact our credit administration team. We'll look into it and get back to you within 5 business days.
If we got it wrong, we'll refund the disputed amount to your account, along with any fees you were charged as a result. If the debit was correct, we'll explain why in writing and share the relevant bank records.