Direct Debit Authorisation
Avoid delays, Save time.
You will need your Mortgage Account Number, proof of your bank account number (e.g. bank statement) and a photo of your National Identification Card / Passport / Driver’s Permit to successfully complete this form.
Frequently Asked Questions
- What is Direct Debit?
- Who should use Direct Debit?
- What are the advantages of using Direct Debit?
- How do I sign up?
Direct Debit is an alternative to Standing Order processing that allows TTMF to collect funds electronically from the customer’s account at any commercial bank toward their mortgage payment.
The service is provided in partnership with Citibank Trinidad and Tobago Limited.
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 TTMF staff to prepare cancellation forms to their bank. If the bank account is joint, both parties must authorize the cancellation of the Standing Order.
- What will it cost?
- How will I know the mortgage instalment was deducted?
- How often can transactions be processed?
- Can I cancel Direct Debit?
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 TTMF; you will also receive an email notification to the primary customer email address indicated on the Authorisation Form.
Direct Debit will automatically be cancelled on repayment of your loan.