What are Direct Debits?
A direct debit is an automated payment method authorising a business to collect funds directly from your bank account on an agreed date. The authorisation is given by you through a direct debit mandate agreement.
Your bank will release the funds on the permitted dates directly to the business, requiring no further action from you.
The amount can be variable depending on how much you owe the business. However, the company must inform you of the fee prior to you being charged.
Direct debits are convenient for subscriptions, regular bills, and recurring transactions.
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 transacting as there is a legal agreement between you and the business | It provides the option of spreading the cost rather than paying in one lump sum |
How to set up a Direct Debit:
