A direct debit
is a regular payment agreement between
a buyer and a seller. Most, but not
all carry a direct debit guarantee.
This is a powerful safeguard for customers
in case of incorrect payments under
the direct debit scheme. You will find
the guarantee in detail on any printed
direct debit mandate you are asked to
complete.
The buyer agrees a regular payment direct from
the bank account to the seller. The seller requests the payment from
your bank account. Payments might vary depending on what you agreed
with the seller.
Example
You may have an arrangement to pay £16.50 per month to your Gas
Company. The transaction will be recorded on your bank statement
Activity: The bank statement will show:
Move your mouse pointer over items to find
out what each area means.
