Let repayments take care of themselves.

If changing the amount: 

Any changes you make to your Autopay amount will take effect for your current statement, if these were made before 11pm AEST/AEDT on “to date” shown in the  “Account Summary” section on your current statement. If the changes were made after this date, these won’t take effect until your next statement period.

If changing the account you’re paying from: 

You can change the nominated transaction account you are paying from before 11:00pm AEST/AEDT on the payment due date shown on your current statement for the changes to take effect for that statement.

If paying from a non-Bank of Melbourne account:

The same timings apply, but you’ll have to allow extra time to visit a Bank of Melbourne branch to complete your request. Don’t forget to bring your ID with you. 

Cancel before 11:00pm AEST/AEDT on the day of your current payment due date and it will take effect on your current statement cycle.

Your Autopay amount will be reduced by any additional payment you make after receiving your statement but before the payment due date shown on your statement.

E.g. If your Autopay is set at $500 and you make a payment of $100 before the payment due date, Autopay will automatically adjust the payment to $400.

Autopay requires cleared funds in your nominated account on your payment due date. However, it may take 3-4 business days for your payment to appear as a debit on your transaction account. 

In some instances Autopay payments may have a 4 day clearing applied, which will reduce your available credit balance by the Autopay amount for 4 days. When this happens you will be notified by SMS. No additional action is required on your part and your available credit balance will automatically increase after 4 days.

If you don’t have enough funds in your nominated account, your payment will be reversed, and you may need to make a separate payment (e.g. by Online Banking, the Bank of Melbourne App or BPAY^®).^{^} If this happens for 2 consecutive months, your Autopay setup will be cancelled.

If your fixed Autopay amount is higher than the statement’s Closing Balance, then your Autopay amount will be reduced to the Closing Balance.

e.g: If your fixed Autopay amount is $100 and the Closing Balance on your statement is $20, the Autopay payment for that month will reduce to $20.

When you have a Balance Transfer and an Autopay arrangement set up for the Statement closing balance, then your Autopay will change to cover the Monthly Payment Balance shown on your statement. The Monthly Payment Balance is calculated so that you do not need to pay off your entire Balance Transfer (or Plan & Pay balance if applicable) to enjoy your interest-free period on new purchases.

Note that any Balance Transfer amount (including fees and interest, if any) is not included in the Monthly Payment Balance and you will need to make separate payments to pay the Balance Transfer balance down.