Please read our full Terms and Conditions at Terms of Service | Sipabacus and Privacy Policy | Sipabacus.

I/We authorise SIP Abacus to debit my/our account with the amounts as agreed and specified in the enrolment.

I/We agree that this authority is subject to the bank's terms and conditions that relate to my/our account and the specific terms and conditions listed below.

A minimum of 28 days' written notice is required to withdraw my/our child from the SIP Abacus Programme and cancel subsequent payments, regardless of whether I am on a monthly, six-monthly, or annual payment plan. All fees paid are non-refundable, including six-monthly and annual payer fees. If SIP Abacus is unable to start a batch as requested, the entire fee charged will be refunded in full.

If I am a six-monthly or annual payer, my term will continue until the end of my payment period. If I do not renew before my renewal date, I will automatically be moved to the fortnightly payment plan.

Dishonoured Payments — If a direct debit payment is dishonoured, SIP Abacus reserves the right to resubmit the direct debit within 5 business days without further notice.

Failed Payment Fee — A failed payment fee of $11.95 is charged by the direct debit provider and will be passed on to the account holder.

Late Payment Fee — A late payment fee of $20.00 will apply to any outstanding balances not settled by the due date.

Notice of Direct Debit — SIP Abacus will provide written notice of the amount and date of each direct debit no less than 2 business days before the date of the debit. If a dishonoured direct debit is resubmitted within 5 business days, a second notice will not be provided.

Consumer Protection — You are also protected by the Consumer Guarantees Act. You are also protected by the Consumer Guarantees Act.