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DEFT still charging 1.5% - is that still allowed?

big_RED

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Jul 5, 2015
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240
Ok i think thats different. My query was using DEFT. The DEFT portal i have to use they assign their own biller codes in it (bsb acc not made available) and my payment options are limited to DD from debit/savings account or credit card.
Correct. As far as I am aware (as I was using deft prior to tonight), the person you're paying has to have setup a deft account to be able to receive payments and offer you that service.
 

Scr77

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Feb 15, 2014
Messages
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To use EBP, the real estate agent would have to allow you to pay via BPAY or directly into their bank account. I would be surprised if they can force to to pay via DEFT.
 

big_RED

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To use EBP, the real estate agent would have to allow you to pay via BPAY or directly into their bank account. I would be surprised if they can force to to pay via DEFT.
I believe there is a rule that tenants have to be provided 1 free, no surcharge way of paying their rent by real estate agents.
 

Xizor

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To use EBP, the real estate agent would have to allow you to pay via BPAY or directly into their bank account. I would be surprised if they can force to to pay via DEFT.
Thanks, this is what i was asking. I'll call DEFT today and get to the bottom of it. If the cost to use EBP is 0.8% after 1k this would seem to make it worthwhile with a QFF card if the earn rate was 1 point per dollar such as ANZ Black Visa? Or have i overlooked something..

With regards to government payments like the ATO, council rates etc it sounds like EBP is the preferred method?
 

big_RED

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Jul 5, 2015
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For anyone wanting to know if EBP worked. I've just done my first transaction with them (using my credit card and they then bank transfer to the person I need to pay) and it's all gone through nicely.

Received an SMS from then letting me know the payment was made, and the receiver confirmed they'd received everything.

Wish I'd heard on them last year so I didn't have to pay the 1.5% DEFT surcharge! I'll definitely be using EBP moving forward and close my DEFT account.
 
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And DEFT charges 3.3% for Amex. Im wondering why EBP doesnt support Amex given amex supposedly reduced their merchant fee below Visa/MC?
 

Dr Ralph

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There may be some hope here. Recently received the following from my strata manager suggesting no more fees for DEFT:

'With the official cash rate falling to 1% in July 2019, its lowest position in Australian history, and all indicators pointing to further cuts, financial institutions are being forced to eliminate the rates on every day interest earning accounts.

This has resulted in the strata plan operating bank accounts now earning 0%.

In order to contra this unprecedented position, we have negotiated with Macquarie Bank Limited to change the structure of all of the operating accounts to no interest, no fees (this does not apply to investment accounts).


So, while no longer earning interest income, there are now no further accounting, DEFT or Bpay fees so it should represent a saving to all plans.'
 

big_RED

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Jul 5, 2015
Messages
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There may be some hope here. Recently received the following from my strata manager suggesting no more fees for DEFT:

So, while no longer earning interest income, there are now no further accounting, DEFT or Bpay fees so it should represent a saving to all plans.'
I've just reviewed the DEFT FAQs and I can't see fees listed anywhere except that the recipient might charge a fee if we use credit card...

However I've just logged in and it says 1.5% Visa surcharge...

Do you think that'll be 0% soon?
 

Dr Ralph

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I've just reviewed the DEFT FAQs and I can't see fees listed anywhere except that the recipient might charge a fee if we use credit card...

However I've just logged in and it says 1.5% Visa surcharge...

Do you think that'll be 0% soon?
Ambiguous I think. I can't see it happening though. I think the email I receive was poorly worded and they meant to say Macquarie wont be charging strata any fees.
 

big_RED

Member
Joined
Jul 5, 2015
Messages
240
Macquarie wont be charging strata any fees
I can't see them stopping fees for users of their platform. Massive revenue maker!

Have you considered EBP which only charges 0.8% for transactions over $1,000?
 

get me outta here

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Now, just to double check the only way to see which card is going to pay my bill is by ensuring the 'Funding Sources' are in the correct order?

I wish they'd say 'we are paying x from x cc'.
 
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