A direct debit is an automatic transaction that transfers money from your account to another, in this case the OnMarket holding account. Direct debits can be a fixed amount or a variable amount. You only have to fill out the simple online form once, your bank details will not be shared with anyone, see https://www.onmarket.com.au/help-faq/security/
Direct Debits will be actioned by OnMarket at 5.45pm on the day your application is made, or the next business day if after this time. Please note that Direct Debit payments may take 24 to 72 hours to be received by OnMarket, and that your application will not be accepted until full payment has been received.
The full Direct Debit Service Agreement is clearly stated on the OnMarket direct debit payments page on each offer and needs to be acknowledged by the member prior to proceeding to payment.