What are Direct Debits?
Customer point of view
A direct debit is an automated Direct Debit is a payment method authorising where a business to collect automatically collects funds directly from your bank account on an agreed date . The authorisation is given by you through after you authorize the payment with a direct debit mandate agreement.
Your bank will release the funds on the permitted dates directly to the business , requiring no on the scheduled dates without requiring any further action from you.
The amount business can be variable depending on how much you owe the businesstake variable and one-off amounts through the mandate. However, the company must inform you of the fee prior to you being transaction before you are charged.
Direct debits are convenient for subscriptionsa convenient way to handle recurring transactions, regular bills, and recurring transactionssubscriptions.
Why pay through Direct Debits?
Saves time and effort | Protected and secure | Flexible |
|---|---|---|
Payments are automatic, so you never have to worry about forgetting or missing payments. | Direct debit is the safest form of |
payment as there is a legal agreement between you and the business. |
Instead of paying in one lump sum, it allows for the option to spread the cost. |
How to set up a Direct Debit:
