TLDR: Does you bank charge you a fee to setup a payment via direct debit?
So it has been a few years since I've arranged to pay bills via direct debit, opting instead to pay via credit card. However, with more companies adding surcharges for paying via credit card, I figured I would opt for direct debit as a payment method on my recent move to Electric Kiwi.
The process for setting up the Direct Debit was straight forward and all done online as part of the signup process for Electric Kiwi. Today I see my bank has charged me a $5 "Direct Debit Setup Fee".
I've been with my current bank for just over three years and haven't set up any new authorities in that time, they transferred existing authorities over when I moved. The fee does appear on the schedule of fees for my current bank, however I have no way of knowing if the charge is a recent thing. It doesn't, that I can see, appear on the schedule of my previous bank, nor was I ever charged such a fee by them.
Given the likelihood that I will be setting up more direct debits as a payment method in the future, getting hit for $5 each time is dissatisfying.
So, does anyone else get charged this by their bank?
Note: I haven't disclosed the names of any banks as I'm just interested to see if this is commonplace across all banks. If you love your bank, feel free to name them, though!