On what day will Southern Steer initiate EFT withdrawals for fees payable for the preceding week?

According to Southern Steer's 2025 Franchise Disclosure Document, EFT withdrawals will be initiated on Wednesday of each week for fees payable for the preceding week. Alternatively, Southern Steer may initiate EFT withdrawals on the first of each month for fees payable for the preceding month. Southern Steer also reserves the right to designate another day following the end of a payment period for these withdrawals.

This means that as a Southern Steer franchisee, you should expect the company to electronically withdraw funds from your account on a weekly or monthly basis to cover franchise fees. The withdrawals will typically occur on Wednesdays for the prior week's fees, but could also be on the first of the month, or another designated day.

It is important to maintain sufficient funds in the designated bank account to avoid any issues with the EFT withdrawals. If a franchisee fails to provide reports of gross revenues, Southern Steer has the right to estimate the amount of fees payable and withdraw that estimated amount. Franchisees should stay aware of the specific day Southern Steer uses for withdrawals to ensure that their account is properly funded and to avoid any penalties or disruptions.