A payment instrument for the debiting of a payer’s payment account whereby a payment transaction is initiated by the payee on the basis of authorisation given by the payer.

Upper case.

A procedure under which an organisation to whom a payment is due claims the amount directly from the bank account of its debtor.

Regular electronic debiting of payments from a customer's nominated bank/building society cheque or savings account.

An instruction to your bank account to pay an amount of money to a specific person or organisation to pay your bills, such as a landlord. The company you owe will request the money directly from the b [..]

Regular electronic debiting of payments from a customer’s nominated bank/building society cheque or savings account.

an amount debited to a specified account of a customer with the customer’s financial institution, as requested and authorised in writing by that customer, to and in favour of a debit user (or to a third party in its capacity as agent for that named debit user) which is processed through the Bulk Electronic Clearing System.

A payment collection method that allows loan or service providers to draw money from your bank account on a regular basis.

Direct Debit is the method of payments collection by automated clearing houses used where the debtor gives authorization to debit his/her account upon the receipt of an entry issued by a creditor. In [..]

A way to make regular payments by giving a company permission to take funds from your account

A pre-authorised debit on the payer's bank account initiated by the recipient (payee).

Direct debits are payments that are taken from your bank account when your bill is due. Suppliers usually offer discounts for customers who choose to pay using this option. These discounts can be substantial, making paying by direct debit one of the cheapest ways to pay for your gas and electricity.

Direct debits are regular payments taken directly from your bank account. Because they save on administration costs and ensure bills are paid on time, energy suppliers offer discounts to customers who [..]

This is a payment method whereby money is taken directly out of your bank to cover your energy bills. This could be on a monthly or quarterly basis. Direct debits with energy companies can either be fixed or variable- a fixed one will take the same amount out each time, which could lead to either you owing money, or to you paying too much and build [..]

 A customer may instruct his or her bank to authorize an organization (such as a publisher) to collect regular or occasional payments from that customer's bank account as long as the customer has been provided with advance notice of the collection amounts and dates. Common in Europe; still uncommon in the U.S.  

A payment collection method that allows loan or service providers to draw money from your bank account on a regular basis.

An amount of money taken from a bank account, set up by the recipient and can vary in amount and exact time that it is taken from an account. Mortgages are usually direct debits.

A service that can be set up on your bank account to automatically make regular payments such as mortgage payments, insurance premiums, or credit card payments.

is an amount of money you authorise a merchant, such as a retailer or a service provider, to deduct from your deposit account or credit or debit card, to pay for goods or services. A credit or debit card will have a scheme logo on the card, such as Visa or MasterCard. You can set up a direct debit to:

A direct debit is a transfer of funds from your St.George account drawn under a direct debit request you have given a third party.

A system for electronic payment, without receipt, of payment orders initiated by the invoicer (debit transfer). Prerequisites are a direct debit authorization from the account holder and the fulfilmen [..]

An arrangement between a person and Medibank where the person authorises Medibank to automatically debit money from their nominated bank account or credit card subject to agreed terms, governed by Med [..]

A means of authorizing recurring payments (e.g., loan payment s, insurance premiums) to be drawn on an account.

A direct debit is a transfer of funds from your BankSA account drawn under a direct debit request you have given a third party.

An EFT that is initiated by the recipient of the payment. The recipient sends the instructions to the account from which the payment is withdrawn. Pre-authorized instructions must be provided on the a [..]

A method of ACH collection used where the debtor gives authorization to debit his or her account upon the receipt of an entry issued by a creditor.