Conditions of Authority

1. The Initiator

a. Advance notice of Direct Debits

Tiaki Wai (hereinafter referred to as “the Initiator”) has agreed to give advance notice of the amount of each Direct Debit and the due date of the debiting at least ten (10) calendar days, but not more than two (2) calendar months, before the date on which the Direct Debit will be initiated.

The advance notice will include the following message:

“Unless advice to the contrary is received from you by [date], the amount of $[amount] will be directly debited to your bank account on [initiating date].”

The notification date specified above will be at least two (2) business days prior to the initiating date to allow for amendment or cancellation of the Direct Debit.

b. Method of providing notice

Advance notice may be provided:

1. in writing;
2. by electronic mail;
3. through an electronic customer portal or digital account notification system,

where the Customer has provided the relevant contact details or consented to electronic communications.

c. Termination of authority by the Initiator

Upon termination of the relationship giving rise to this Authority, the Initiator may give notice to the Bank that no further Direct Debits are to be initiated under this Authority. Upon receipt of such notice, the Bank may terminate this Authority as to future payments by notice in writing to the Customer.

d. Transfer of banking arrangements

Where the Customer transfers their banking arrangements to another bank and has completed an authority transfer form or equivalent banking transfer process, the Initiator may continue to initiate Direct Debits against the transferred account in reliance on that authority.

2. The Customer May

a. Terminate this authority

At any time, terminate this Authority as to future payments by giving written notice to both the Bank and the Initiator.

b. Stop an individual payment

Stop payment of any Direct Debit to be initiated under this Authority by giving notice to the Bank prior to the Direct Debit being processed by the Bank.

c. Request reversal or alteration of unauthorised variations

Where

• the amount of a Direct Debit has been varied without advance notice being provided in accordance with clause 1(a); or
• a Direct Debit has otherwise been initiated incorrectly,

the Customer may request the Bank to reverse or alter the Direct Debit by debiting the amount of the reversal or alteration back to the Initiator through the Initiator’s Bank, provided that such request is made within 120 days from the date on which the Direct Debit was debited to the Customer’s account.

3. The Customer Acknowledges That

a. Continuing authority

This Authority will remain in full force and effect in respect of all Direct Debits initiated in good faith notwithstanding the Customer’s death, bankruptcy, or other revocation of this Authority until actual notice of such event is received by the Bank.

b. Banking arrangements prevail

This Authority is subject to any arrangement now or hereafter existing between the Customer and the Bank relating to the Customer’s account.

c. Disputes regarding debits

Any dispute as to the correctness or validity of an amount debited to the Customer’s account shall not be the concern of the Bank except insofar as the Direct Debit has not been paid in accordance with this Authority.

Any other disputes lie between the Customer and the Initiator.

d. Bank liability limitations

Where the Bank has acted with reasonable care and skill in accordance with this Authority, the Bank accepts no responsibility or liability in respect of:

• the accuracy of information relating to Direct Debits appearing on bank statements; or
• any variation between notices issued by the Initiator and the amounts actually debited.

e. Failure or delay of notices

The Bank is not responsible for, nor under any liability in respect of:

• any failure by the Initiator to provide notice in accordance with clause 1(a); or
• the non-receipt or delayed receipt of any notice by the Customer for any reason whatsoever.

In such circumstances, any dispute lies between the Customer and the Initiator.

4. The Bank May

a. Determine payment priority

In its absolute discretion, conclusively determine the order of priority of payment of any monies pursuant to this or any other authority, cheque, or instrument properly executed by the Customer and presented to the Bank.

b. Terminate the authority

At any time terminate this Authority as to future payments by notice in writing to the Customer.

c. Charge applicable fees

Charge its current fees for this service as varied from time to time in accordance with the Bank’s standard terms and conditions.

d. Transfer this authority

Upon receipt of a valid authority transfer request, transfer this Authority to another registered bank in accordance with applicable banking procedures.

5. Liability for rejected or delayed payments

Customers remain responsible for payment obligations where:

• updated bank account details are incorrect;
• insufficient funds are available; or
• payment instructions are submitted after published processing cut-off times.

6. Privacy statement

The Initiators privacy practices are governed by the Privacy Act 2020 and the Initiators Privacy Statement available at: https://www.tiakiwai.co.nz/assets/Resource-Files/Tiaki-Wai-Final- Privacy-Statement.pdf

7. Sharing information

Relevant customer information may be shared with:

• banking providers;
• payment processing service providers;
• local authority shareholders;
• regulatory authorities; and
• contracted service providers,

where reasonably necessary for the administration of Direct Debit arrangements or related services.

8. Definitions

For the purposes of these Conditions:

• “Bank” means the financial institution at which the Customer maintains the nominated account.
• “Customer” means the account holder authorising the Direct Debit.
• “Direct Debit” means an electronic payment initiated under this Authority.
• “Initiator” means Tiaki Wai Limited.
• “Business Day” means a day on which registered banks are open for business in New Zealand, excluding weekends and public holidays.