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Why has my first payment doubled?

Your first payment is the kickstart to your cover with us at Trade Me Insurance. However, depending on the start date you choose, your first payment can sometimes be higher than your regular payments.

Check out how we calculate your first payment below.


Your first direct debit payment

When you decide to purchase your policy, you'll be taken to the payment page.

Direct debits take 17 days to set up so the date you choose for your fortnightly or monthly payments will impact how much your first payment will be.

If the date you choose is within this 17 day period, you'll be required to make a double payment the following month.

If the date's more than 17 days away, your payment will be as normal on the date selected.

If you'd rather avoid a double payment, you can make a one-off payment up to seven business days before the double payment. This will automatically reduce the payment that will be debited. Check out the article Missed a payment? Never fear for instructions on how to make a one off payment.



Today is the 4 April 2016 and you're buying a policy to start straight away. You want your payments of $26.16 to come out on the 14th of every month.

This is within 17 days so we can't take the payment on the 14 April 2016. Instead we'll take a double payment of $52.27 on the 14 May 2016. This will cover your payment for April and May. After this your payments will be taken out on the 14 July and each 14th after that.


Still unsure? Fire up a live chat or contact us, we are here to help.


Related articles:

Payment options explained

Missed a payment? Never fear!

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