Last updated: August 2023
New Zealand BECS Direct Debits allows you to collect funds from New Zealand bank account holders.
By using New Zealand BECS Direct Debit via Stripe, you agree to comply with the following terms, which supplement the provisions of the Stripe Services Agreement.
- New Zealand BECS Direct Debit is facilitated by means of a Direct Debit Authority (DDA) through which the Customer authorises you to debit their account, in accordance with the terms of the accompanying Direct Debit Services Terms and Conditions (“Customer Service Agreement”).
- You may only submit a debit for collection if you have obtained a valid DDA from the Customer, and you must ensure that the Customer has accepted the DDA and the information set out In the DDA, including the terms of the Customer Service Agreement.
- You must use the form of the DDA, Customer Service Agreement, and Customer communications provided in the Documentation, or in such other form as provided and approved by Stripe.
- You must send a DDA confirmation email to the Customer within 5 days of obtaining the DDA, in the form set out in the Documentation. Prior to submitting a debit for collection, you must also send a pre-debit notification email to the Customer in the form set out in the Documentation, or in such other form as provided and approved by Stripe. You must provide contact details and reasonably respond to any Customer queries or requests.
- If we request you to do so, you must promptly provide Stripe with a record of the DDAs and the Customer notification emails.
- You are responsible for providing the correct direct debit data. If you change the frequency or amount of a debit, you must give the Customer 10 days’ advanced notice. Should a debit be disputed, reversed or fail – including for insufficient credit or incorrect account information – you are fully liable to pay the disputed or reversed amounts, as well as any applicable Stripe or third party fees.
- You must notify Stripe immediately if your customer cancels their DDA, or proposes to stop or amend payment of any direct debit initiated under their DDA.
- You acknowledge that New Zealand BECS Direct Debit is not a guaranteed payment method and there can be a delay of several days before you receive notification on the success or failure of a payment after you submit a debit for collection. Accordingly, you acknowledge that there is a risk of failed payments and Disputes.