The benefits of Direct Debit
Whether using Direct Debit to pay your household bills or business costs the benefits are the same and worth the few minutes it takes to set up a Direct Debit.
We are beginning to phase out cheque payments and would encourage you to sign up to our new Direct Debit scheme. This helps to keep our costs down and means we can pass on savings to you too.
It spreads the costs
Paying your regular bills or business costs by Direct Debit allows you to spread costs over a period that you agree – if you find paying annually a bit of a burden, we are happy to move you to monthly or quarterly billing cycles instead – but note that paying annually via DD does save you a bit of money too.
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 in the payment of your Direct Debit
- Advance notice if the date or amount changes
- The right to cancel at any time.
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. For businesses paying by Direct Debit also means reduced workload and paperwork for your finance department.
You’ll be receiving requests for DD setup via email over the coming weeks. We hope you’ll take immediate action to enjoy the benefits this will bring.
For more information on Direct Debit, visit the official website.