The benefits of Direct Debit
It spreads the costs
Paying your regular bills by Direct Debit allows you to spread costs over a period that you agree with the organisation you are paying.
It's guaranteed
Direct Debit payments 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.
It can save you money
Businesses find Direct Debit just as convenient and efficient as consumers. For this reason, many offer discounts in return for you paying by Direct Debit.
Discounts vary, but overall Direct Debit savings on household bills can add up to a substantial amount each year.
For an idea of how much you could save visit Direct Debit savings.
It gives you peace of mind
Direct Debit is one of the safest and most reassuring ways of paying your bills:
- Payments are made automatically, so bills are never forgotten, lost in the post or delayed by postal problems and there's no risk of late payment charges
- Organisations using the Direct Debit scheme have to pass a careful vetting process, and are closely monitored by the banking industry
- The Direct Debit Guarantee protects you and your money. It's offered by all banks and building societies that take part in the scheme.
It saves you time
Modern life is hectic – but Direct Debit helps. It takes away much of the hassle associated with paying bills, and puts an end to queuing at the bank and filling out cheques. You’ll find it easier to stay on top of your bills, and you’ll know exactly how much money is going out each month.
Direct Debit adds up to less worry, and more time to yourself.