Fintech
Direct Debit
A way for a business to collect varying amounts from a customer's bank account, with their one-off permission, protected by the Direct Debit Guarantee.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
Most subscriptions are paid by Direct Debit, so failed payments are rare.
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