Direct Debit guarantee
The Direct Debit Guarantee is so important that it is worth a few paragraphs of its own.
The Guarantee is in place so that your customer’s payments are completely protected in the (rare) event that something goes awry. For example, the incorrect amount has been taken. Or some fraudulent activity has taken place.
It’s worth noting that organisations using the Direct Debit Scheme go through a careful vetting process before they're authorised, and are closely monitored by the banking industry. The efficiency and security of Direct Debit is monitored and protected by your customer’s own bank or building society.
The Guarantee only covers Direct Debit payments, however, it cannot be used to address contractual disputes between you and your customers.
The Guarantee also entitles customers to be informed of any changes to their Direct Debit, before they come into force, and allows them to cancel the Direct Debit at any time.
The Direct Debit Guarantee:
- The Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits
- If there are any changes to the amount, date or frequency of your Direct Debit, Eazipay Ltd will notify you 5 working days in advance of your account being debited or as otherwise agreed. If you request Eazipay Ltd to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
- If an error is made in the payment of your Direct Debit, by Eazipay Ltd or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society
- If you receive a refund you are not entitled to, you must pay it back when Eazipay Ltd re asks you to.
- You can cancel a Direct Debit at any time by simply contacting your Bank or Building Society. Written Confirmation may be required. Please also notify us.