Can I have debit interest taken from a different account?
Last updated 03 February 2015
Debit interest may be charged on your savings or transaction account if you have an Overdraft limit, or if we allow a transaction you have authorised to be processed to your account, despite there being insufficient funds in your account. As a convenience to you we may honour the transaction and send the funds without delay. This may results in your account being either overdrawn or exceeding its agreed overdraft limit. For example, this may happen if you have authorised a direct debit from your account but there are insufficient funds in the account on the due date.
You can use NetBank to have the debit interest accrued on one account automatically deducted from another account by following these steps:
- Hover over the More tab and select Manage my accounts located under the heading Manage accounts
- Under the Accounts heading select Change the account to debit interest from
- From the drop down box Account accruing debit interest select the account and Go
- From the drop down box 'Deduct debit interest from' select the account
- Save changes