Payment Options

Your MYOB Cover membership can be paid for in a variety of ways.

  • Monthly recurring subscription
  • Annual recurring subscription
  • Annual one-off payment

Once you have chosen which option above you wish to join, you also have a number of ways of paying each of the options.

You can pay by credit card or direct debit with any payment option. You also have the option to pay by EFT or cheque for Annual one-off payments.

What is subscription pricing?

Subscription pricing is a pay as you go pricing plan which payments are deducted monthly via direct debit or direct credit. Upon subscribing, a non-refundable monthly or annual payment for your MYOB Cover membership will be deducted. Payment will continue to be deducted monthly or annually unless MYOB is notified by the client in writing that they wish to cancel.

What are the benefits of subscription pricing over a one-off Annual payment?

  • Peace of mind - Payments are made automatically so bills are never forgotten or late and you don’t need to worry about lost or stolen mail
  • Continuous Support - Ensures you are never without access to MYOB expert help and support
  • Spreads the cost - Paying monthly allows you to spread the cost over 12 months making it easier for your cash flow
  • Saves you time - Takes away the hassle associated with paying bills, logging in to online payments or calling to make a payment.  You’ll find it easier to stay on top of your bills and you’ll know exactly how much money is going out, on which date, each month
  • Stay up to date - You’ll always be on the latest product, receive compliance updates (if included in product) and receive notifications of any updates or changes to software, pricing or payment dates
  • You’re helping the environment - By reducing paper and ink usage, you continue to help the environment and reduce your carbon footprint

Are there fees for using direct debit?

If you direct debit from a savings or cheque account, no fees will be charged.
If you direct debit from a credit, charge or debit card you will incur a 1% (including GST) payment processing fee on the total amount of each transaction. This fee will appear on the next invoice after the payment has been processed.

Is there a minimum contract period?

As per our Terms and Conditions for MYOB Cover, the minimum term for any membership plan is 12 months. If the membership is cancelled and then restarted, another minimum term of 12 months begins.

Will I be charged a cancellation fee if I leave?

If you wish to cancel your membership or subscription, you must notify us by phoning our customer service team on 1300 555 151 (option 4) to opt out of future payments. If you wish to cancel an Annual one-off payment or annual subscription, no refunds will be made for any unexpired portion of your subscription.  If you are wishing to cancel your subscription inside your 12 month period, you will be required to pay the balance of the 12 month period

Notice period for cancellations

If you want to cancel your subscription, a notice period applies. The length of the notice period required depends on which product you use:

  • MYOB AccountRight: 14 days
  • MYOB Essentials: 20 days