Direct Debit Guide - What is Direct Debit | Direct Debit
 

What is Direct Debit?

A Direct Debit is an instruction from a customer to their bank that authorises a business or another individual to collect money from their account.

The authorisation does not state how much is to be taken, or when and how regularly the payments are to be made.

The details can be changed by the collector, provided they have informed the customer first. Direct Debit payments also come with a guarantee so you're automatically protected by three important safeguards:

  • An immediate money back guarantee from your bank in the event of an error
  • Advance notice if the date or amount changes
  • The right to cancel at any time.

Read The Direct Debit Guarantee in full.

Direct Debit is easy, reliable and secure.  Over 80 per cent of adults in the UK have at least one Direct Debit and it is an extremely widely used payment method for businesses and individuals. As such, it is a format which the vast majority of the UK is comfortable using.

Eazipay Limited are authorised and regulated by the Financial Conduct Authority, number 615816 under the Payment Services Regulations 2009 for the provision of payment services. www.fca.org.uk
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

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