Direct debits from a bank account are useful for paying regular fixed amounts, such as housing, utilities or other recurring payments. A direct debit is an authority given by an account holder to a third party to take money from a nominated account or credit card account.
Account holders can also schedule regular fixed amounts to be paid to a provider from their bank account. This process is controlled by the account holder and can be cancelled or amended at any time.
Some financial institutions may charge a fee to process a direct debit.
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