What is a direct debit?
When you arrange a direct debit, you are giving someone else permission to take funds directly from your bank account. A direct debit authority is your instruction to your bank to accept debits from your account by another person or business (known as The Initiator) - in this case TOWER Insurance Limited (underwriters of Trade Me Insurance).
Paper versus paperless direct debits
When you finish off your quote, you will be prompted to answer three questions relating to your direct debit. Your answers will decide whether or not you can complete your direct debit completely online.
If you are asked to fill out a paper direct debit form, this will be sent to your email with your confirmation of insurance. You buy your policy and then finish the direct debit form and post it back!
If you want to download the form, just click on Direct Debit Authority.pdf
For more information, see Direct debit terms and conditions.
Still unsure? Fire up a live chat or contact us, we are here to help.