Here are some questions frequently asked by people approaching retirement age. More common questions and answers on Direct Debit can be found by clicking on Did you know?
How can Direct Debit help me manage my pension?
As you have a regular income, it is sensible to plan your outgoings accordingly to avoid any worry. Set up Direct Debits for your regular outgoings, choosing a date when you know your pension payment will have arrived, that way it's all taken care of.
Can older people benefit from discounts thanks to Direct Debit?
Many major companies offer discounts to all their customers who pay by Direct Debit - over the course of a year and across major bills including electricity, gas and phone, this could be up to £235 - a major saving when you're living on a pension.
Bereavement is a fact of life, how can I prepare for it financially?
Read our dedicated hints and tips, but most importantly share information now. Make a will and list all your financial arrangements in a single place so that, should the worse happen, your partner knows what needs to be done.
I struggle to meet the cost of winter bills, can Direct Debit help?
Heating and electricity bills can be a real shock after a cold winter. Many utility providers can arrange for you to spread your bills equally over the course of a year by Direct Debit.
I want to be free to enjoy my retirement, can Direct Debit help with this?
Enjoy a hassle free retirement knowing that your day to day bills are taken care of with Direct Debit. That way, whether you are spending time with grandchildren, or sunning yourself on the beach, you know that you are in control of your finances.
How does switching bank accounts affect my Direct Debit payments?
Visit our account switching FAQs to learn more.
What is the Direct Debit Guarantee?
- The Guarantee is offered by all banks and building societies that accept instruction to pay Direct Debits.
- If there are any changes to the amount, date or frequency of your Direct Debit the organisation will notify you (normally 10 working days) in advance of your account being debited or as otherwise agreed. If you request the organisation 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 the organisation 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 the organisation 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 the organisation.
How do I get back any money paid in error?
If any payment is made in error, you should contact your bank or building society who are responsible for giving you a full and immediate refund - even if the original error was made by the organisation collecting the payment. For full details of your rights see the Direct Debit Guarantee.
