Direct Debits

I thought I?d write an opinion on the dreaded phrase in our office for the past 18 months ? DDs. Now, before I go on I think Direct Debits are an excellent solution to paying bills in modern day life but I will be happy if I never hear the words again. The company I work for sets 4 ?business targets? every January and for each one we achieve we get a 1% bonus each February of the following year. Of course, you don?t need to be a mathematical genius to work out that if we achieve all 4, that?s a 4% bonus in our pay packets early next year. It?s not going to enable me to retire but it is going to ...

A large part of my job involves sorting out the troubles customers get themselves into when they “forget” to pay their store card bills, and at least 5 times a shift I can be heard to mutter the immortal words “Well why don’t you set up a Direct Debit?” I’ve got a few of the lovely DD things – one for my rent, another for my credit card and a third for my staff card, but just what are they? 1. What is Direct Debit? Direct Debit is a simple and safe method of paying bills and subscriptions automatically from your current account. You and the company in question agree the amount to be collected and the date on ...

A word or two of warning about direct debits for those of you who do or are considering paying your bills by this method:- There is an indemnity scheme whereby if a direct debit has been taken incorrectly your bank will pay you back the money and then get the money back from the takers bank however this does not work if the taker has gone bust unless they took the money in error and will admit it. The direct debit form that you sign does not have the details of the debit on it so it can be used to set up more than one direct debit on your account so check your bank statement properly every month. If you need to stop the direct debit, eg you ...