DEFT still charging 1.5% - is that still allowed?

[big_RED]

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]

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]

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]

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]

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.

 

[downloadingdata]

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]

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.'

 

[amaroo]

EBP and forget about Amex is your friend.

 

[big_RED]

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]

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]

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]

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'.

 

[Skyhawk]

Has anyone come up with an alternative for paying DEFT now that EBP is unsuitable?

 

[get me outta here]

I plan on paying DEFT on Amex at 1.9% because I need to activate the bonus and it's all I have to do so at the moment.
@ferni has a method if you want to investigate that.

 

[big_RED]

Has anyone come up with an alternative for paying DEFT now that EBP is unsuitable?

What do you mean?

I am using EBP to pay off rent using my credit card which EBP deposits into the real-estate agents bank account. Is that not something similar to what you need?

 

[Skyhawk]

What do you mean?

Last month EBP increased its fees substantially and removed the $1,000 fee free per month. There's a thread elsewhere discussing it.

 

[big_RED]

Last month EBP increased its fees substantially and removed the $1,000 fee free per month. There's a thread elsewhere discussing it.

You're kidding! They didn't even send out an email/notification of the changes. Do you get any notification of this?

I've just logged in and a pop-up appears saying:

• Due to the increased fees related to supporting top-ups from credit/debit cards, the surcharge for using credit/debit cards will increase from 0.8% to 1.3% of the transaction amount.
• The credit/debit card surcharge will now apply to all top-up transactions.

What are the fees with doing business with MasterCard and VISA? The government at the start of this year cracked down on all of this and made businesses charge whatever card fees were being given to them directly. I doubt this increase is warranted?

 

[pauly7]

You're kidding! They didn't even send out an email/notification of the changes. Do you get any notification of this?

I've just logged in and a pop-up appears saying:

• Due to the increased fees related to supporting top-ups from credit/debit cards, the surcharge for using credit/debit cards will increase from 0.8% to 1.3% of the transaction amount.
• The credit/debit card surcharge will now apply to all top-up transactions.

What are the fees with doing business with MasterCard and VISA? The government at the start of this year cracked down on all of this and made businesses charge whatever card fees were being given to them directly. I doubt this increase is warranted?

Report them

 

[big_RED]

I just sent them a dirty email asking them for written confirmation that they are being charged 1.3% by the credit card companies as if they are not, then they are in breach of the latest ACCC rules for credit card fee on-sell to consumers.

Lets see what they say!

 

[get me outta here]

I'm surprised you didn't receive the email, I'd definitely asking them how that happened seeing as you're such a frequent customer.

Your question to them below, I also sent similar to DEFT and their reply and someone else's explanation on why they don't dive a stuff is up thread somewhere.

Also, ebp does not accept Amex. That's why I'm going another route to get my Amex bonus.

I just sent them a dirty email asking them for written confirmation that they are being charged 1.3% by the credit card companies as if they are not, then they are in breach of the latest ACCC rules for credit card fee on-sell to consumers.

Lets see what they say!