Millions opt to pay vehicle tax by Direct Debit
October 28, 2016
New figures reveal that 16.5 million Direct Debits have been set up to pay for vehicle tax in the UK, two years since the option was first introduced by the Driving and Vehicle Licencing Agency (DVLA).
In fact, since the DVLA started offering the option in October 2014, the number of payments collected this way has now surpassed a staggering 134 million. To put this into context, on the final day of last month (30 September) alone, a record 7.2 million Direct Debits were processed for vehicle tax.
The growing popularity of the payment method among motorists was a contributing factor to yet another record breaking year for Direct Debit in 2015, with 3.9 billion transactions made this way in total, at a value of over £1.2 trillion.
Michael Chambers, CEO of Bacs Payment Schemes, the organisation behind Direct Debit in the UK, said: “Today’s figures once again illustrate the continued popularity of Direct Debit among consumers and billers alike and follow what was a record 2015 for Bacs.
“It’s particularly impressive that, just two years after the DVLA launched the payment method, 16.5 million Direct Debit Instructions have been set-up and over 134 million Direct Debit payments have been collected for vehicle tax.”
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