Advantages: Quick and simple to set up; Never get into arrears with bill payments Disadvantages: Might be difficult to budget for if you are not paid monthly
...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.
My company 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 ... ...up on a fixed monthly direct debit – 7000 a week would ensure we reached our target by the end of the year.
And I’ll explain my title later.
WHAT IS A DIRECT DEBIT?
A direct debit is a monthly payment that goes straight out of your bank account and pays the company with which you have set up the agreement. Most of my bills are paid in this way, for example council tax, mortgage, gas and electric, water… the list is almost endless. With each of ...
AnitaM 08.12.2003
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Ciao members have rated this review on average: very helpful Review of Direct Debit Card/Payment Services
Advantages: Saves you time and effort, free to set up, leaves the money in your account to the last possible moment Disadvantages: If you're no careful you can lose track of spending, mistakes have been known to happen
...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 which this will happen, and then ... ...do I set up a Direct Debit? There are 2 main methods: you can either (a) complete a Direct Debit Instruction, obtained from the organisation you wish to pay, and return it to them or (b) set up Direct Debits over the telephone or via the Internet. The organisation in question will then forward your instructions onto your Bank authorising them to make payments from your account to them. 3. What information do I need to set up a Direct Debit? Name ...
zoe_page 23.01.2003
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Ciao members have rated this review on average: very helpful Review of Direct Debit Card/Payment Services
Advantages: Decrease in fraudulent activity, more efficient customer service Disadvantages: forgetting your PIN!
...Although it doesn’t come under Direct Debits, it does come under payment services, perhaps a general heading in this category would be useful; anyway that is why I have added it here! For the sake of argument we’ll call it blurring the line!
Chip and PIN is a new initiative being pioneered by the banking sector and a number of major retailers. Chip and PIN will be a revolutionary change for consumers in the way in which the complete card transactions ... ...what is it?
Chip is an intelligent piece of microchip technology that will be added to all plastic payment cards including debit cards (E.g. Switch) and credit cards (E.g. Visa and MasterCard) this chip will store the cardholder’s personal details. Pin is a personal identification number- this will contain four-digits which will be assigned or chosen by the cardholder. The cardholder only knows the pin and this will significantly reduce card fraud. ...
redpen 01.07.2003 (03.07.2003)
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Ciao members have rated this review on average: very helpful Review of Direct Debit Card/Payment Services
Advantages: Provide Easy payment methods Disadvantages: You loose some control to banks and companies
Standing Orders & Direct Debits.
I work in the finance industry and know how these payments work. I am aware not everyone is though.
Without going into boring detail, I will try to give you basic understanding of the 2. For those interested you can either drop me a line or visit; (http://www.apacs.org.uk/about_apacs/htm_files/bacs.htm - Company that controls these payments)
(http://www.apacs.org.uk/about_apacs/htm_files/debits.htm - Direct Debits)
... ...etc) that will take funds direct from your account. It is used by companies that are registered with the company that controls direct debits (called BACS).
A standing order is an agreement between you and your bank to send a certain amount of money to another account on a regular basis. It offers two benefits over the direct debit system. You have more control over the payment going to the company/individual, not the other way round. You can set ...
Charliebuoy 07.02.2003
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Ciao members have rated this review on average: helpful Review of Direct Debit Card/Payment Services
Advantages: easy to set up Disadvantages: hard to know what they take out and when
the direct debit. it is suppose to be hassle free. easy to maintain. dont know if its just me but direct debit from my know how is a great pain.
i set up a direct debit for n.t.l for 17.99 a month. great i thought dont need to worry about that.
but when i got my statments. guess what? £53 taken out. i asked the bank why they say over the past three months they have failed to take the money out. why i ask i have money ready. dont know she replyed. ... ...have the right to the direct debit conditions which say you can stop a direct debit if you have to. if more companys worked a bit more with their customers then this will be the best way in paying bills
if your the person that worries about "strangers" taking money out then pay at the local trusty post office. the addvantage of paying there
* confidence in knowing you have paid in person (not some computer)
*see what you are paying for
open untill ...
thompson500 22.04.2004
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Ciao members have rated this review on average: somewhat helpful Review of Direct Debit Card/Payment Services
1-5 of 5 reviews
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