All 'Time to Pay' instalments are processed on a monthly basis, at 3am (AEST) on the 16th of the month. This includes months where the 16th falls on a Sunday or Public Holiday.
Payments will be debited from the credit/debit card used for the original booking. Unfortunately you cannot link a bank account to your 'Time to Pay' plan.
Further information can be found in the event Terms and Conditions.