Direct Debit definition

Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;
Direct Debit means a payment service for debiting a payer's payment account, where a payment transaction is initiated by the payee on the basis of the payer's consent given to the payee, to the payee's payment service provider or to the payer's own payment service provider;
Direct Debit means a national or cross-border payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent;

Examples of Direct Debit in a sentence

  • Direct debit rejected (due to invalid bank account for instance).

  • This fee covers you from the point of joining until your first Direct debit is received and is non-refundable.

  • Direct debit participants are entitled to suspend their enrolment for a 4-week period per calendar year.

  • Paperless Direct Debit You can set up a paperless Direct debit by contacting us on 01709 336009.

  • Direct debit allows the Merchant to debit recurring payments (e.g. monthly subscriptions, regular online services etc.) via the Tide Card you have provided.


More Definitions of Direct Debit

Direct Debit means the payment services for debiting a Payer payment account where a payment account is initiated by the Payee on the basis of the Payer’s consent given to: • the Payee or • the Payee payment services provider or the Payer payment services provider.
Direct Debit means a transaction originated by the beneficiary, as authorised by you so the amount can vary each time if necessary.
Direct Debit means a written instruction of an Obligor authorising its bank to honour a request of VWFS to debit a sum of money on specified dates from the account of the Obligor for credit to an account of VWFS.
Direct Debit means a payment transaction initiated by the payee and debited to the Client’s myPOS Account where the amount of the payment is specified by the payee.
Direct Debit means a payment made pursuant to the Direct Debiting Scheme;
Direct Debit means a service for making payments from the payer’s account which are initiated by the payee on the basis of the payer’s consent (whether given by the payer to the payer’s bank or to the payee or to the payee’s bank).
Direct Debit an automated payment method set up between you and us to send payments to organisations in accordance with a direct debit mandate given by you to the organisation which manages the frequency and amount of each payment; “E-money” monetary value issued by us to your Account on receipt of funds on your behalf in our Customer Funds Account, equal to the amount of funds received; “European Economic