A direct Debit is an instruction from a customer to their bank or Savings and Loans Company authorising an organisation to collect varying amounts from their account, as long as the customer has been given advance notice of the collection amounts and dates.
Direct Debit Payments include:
- Business-to-business payments
- Insurance Payments
- Utility Payments
- Mortgage Payments
- Loan Payments
- Rent Payments
- Subscriptions Based Payments.