Direct Debit
Automate Your Mortgage Payments
Efficiency at your Fingertips
Our Automated Payment Setup streamlines your mortgage payments effortlessly.
Seamlessly authorize direct debits from any bank, saving you valuable time and preventing delays.
To proceed, simply gather your Mortgage Account Number, a bank statement verifying your account number, and a photo of your National Identification Card, Passport, or Driver’s Permit. Completing this form is your first step toward hassle-free payments.
Direct Debit FAQs
Direct Debit stands as a dynamic alternative to traditional Standing Order methods. It empowers TTMB to seamlessly gather funds electronically from customers’ accounts at any commercial bank, facilitating effortless mortgage payments.
New and existing customers when payment cannot be made via salary deduction.
- It is cost effective as it costs less than a standing order ($3 vs $8 approx for a standing order)
- Improved efficiency and timeliness in recording the customer’s payment on his/her account.
- Automatic cancellation of your deductions after your final payment.
- Email confirmation that the payment has been processed.
- Eliminate the need to carry cash and avoid the delays associated with clearing cheques.
- Complete the Direct Debit Authorisation Form.
- Existing Standing Order customers must liaise with TTMB staff to prepare cancellation forms to their bank. If the bank account is joint, both parties must authorize the cancellation of the Standing Order.
Direct Debit only cost $3.00 per transactions which is cheaper than a standing order charges/fees.
The transaction will be reflected on your bank statement as Electronic Debit from TTMB; you will also receive an email notification to the primary customer email address indicated on the Authorisation Form.
At present only monthly transactions are accommodated.
Direct Debit will automatically be cancelled on repayment of your loan.
Direct Debit Authorisation Form
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