What is a Direct Debit?
A A
A direct debit is an instruction from a customer to their bank or building society, authorising an organisation (known as an originator) to collect variable or fixed amounts from their account, as long as the customer is given advance notice of the collection amounts and dates.
The payer authorises the originator to collect the payment from the payer’s bank account by completing a Direct Debit Instruction (DDI), by giving the instruction over the phone or on-line. Once the payer has returned the instruction to the originator, the payer need take no further action. If the instruction is given over the phone the originator must confirm the details in writing to the payer.
The payment is collected by the originator’s bank which submits a direct debit collection file to the bank of the payer for processing.
For further information on direct debits please click on the menu to the left.
 |
|
Company Registration Number: 267239
Copyright IPSO ©