A Direct Debit lets your bank or building society know that businesses and services can take money from your account on a set date.
People use Direct Debits to pay monthly bills and make one-off payments. They’re a simple way to manage regular payments, such as:
- Utility bills
- Gym memberships
- Mobile phone contracts
- Monthly subscriptions
A Direct Debit is different to a standing order. With a standing order, you set up the payment for the exact amount. With a Direct Debit, the payment is set up by an organisation and the exact amount you pay can go down or up.
In this article
- What is a Direct Debit?
- How to set up a Direct Debit
- How to cancel a Direct Debit
- Pros and cons of Direct Debits
