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Overview

Payment group: Direct debit
Payment product id: 705

A Direct Debit is a way to collect an amount directly from a bank account. It is considered a pull payment method as the collection of the funds is initiated by you. The bank account details are provided to you together with a mandate for the debiting of the bank account. You instruct us to retrieve the amount due from the bank account at the desired date.

It is typically used to make recurring payments; such as utility bills and subscriptions. Unlike standing orders, which require the amounts to be fixed, Direct Debits can be used for varying amounts; the payee can simply indicate a different amount each time. Direct Debits can also be used for one-time payments in the mail order business or even at a point of sale. In the UK the GlobalCollect platform offers direct debits through the BACS scheme, also known as Bankers’ Automated Clearing Services. In this process we can help not only to process the direct debits, but also to register the mandates.


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