A Direct Debit is an instruction that authorises a company to collect payments from your account when they are due. Once you give a business permission, they can take payments on agreed dates, though they must notify you in advance if the date or amount changes. 🤷🏼
How long does it take to set up?
Once a business has requested a Direct Debit, it usually takes up to five working days to become active. ⏳
When are payments taken?
The Direct Debit process begins at 08:00 every Monday to Friday. Please keep in mind that payments aren't processed on weekends or public bank holidays. ⏰
How much do Direct Debits cost?
There is a 30p fee for each Direct Debit transaction processed through your account. 💰
What if I don't have enough money in my account?
If you don’t have enough funds available when a Direct Debit is attempted, the payment will not go through. 📉
Note: We don't participate in the standard 14:00 retry process for Direct Debits. To make sure your bills are paid on time and to avoid potential late fees from the merchant, we recommend ensuring you have enough money in your account the day before a payment is due. ⚠️