Here are some questions frequently asked by students. More common questions and answers on Direct Debit can be found by clicking on Did you know?
Do student bank accounts give me access to Direct Debits?
Many include a Direct Debit facility within their standard package, but it is worth checking as you consider the options.
How can I use Direct Debits to manage my student finances?
Direct Debit is a great way to take control so you know on which date each month key payments will be made. It can also save you up to £230 a year when used across a range of regular bills.
Are there specific student discounts for using Direct Debits?
TV licence runs a system that can save students money. If you buy a licence at the start of the academic year (September) and pay by Direct Debit, you can claim back your final quarter over the following summer months when you return to live at home - saving you a quarter of your annual bill. Visit www.tvlicensing.co.uk/information/students.jsp for more details.
I need to pay household bills for a shared house with friends, what's the best way of organising this?
Set up a joint account, each pay in a fair share and then agree which bills the account will be used to fund. Arrange to pay them by Direct Debit and then sit back knowing they won't be forgotten.
Mum and dad help me with living expenses while I'm at university, how can we organise this?
Talk to them about how they would like to help. It may be that they fund certain living expenses such as rent and the major utilities. If so, ask them to pay the bills for you by Direct Debit. That way they will know you're not homeless and you might be able to benefit from one of the discounts offered to Direct Debit payers - which could mean more money for you in the long run!
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.
