FACTSHEET
A Beginner's Guide to Direct Debit
Advantages
Almost half of UK bill payers prefer Direct Debit because it has so many advantages. So what exactly is Direct Debit? It's a simple way to pay regular and occasional bills and it's all done automatically, so you don't have to worry. And not only is it convenient for you, it's also really simple and safe! All you have to do is set up a Direct Debit Instruction with the organisation you wish to pay, agreeing the amount and date the payment will be collected from your bank or building society. Once that's done, the money is deducted regularly. But don't worry - they can only take the amount you've agreed, and if they want to change the amount or date of collection they have to agree it with you first.
It gives you peace of mind
Direct Debit is one of the safest and most reassuring ways of paying your bills:
• Payments are made automatically, so bills are never forgotten or lost in the post and there's no risk of late payment charges
• Organisations using the Direct Debit Scheme have to pass a careful vetting process, and are closely monitored by the banking industry
• The Direct Debit Guarantee protects you and your money. It's offered by all banks and building societies that take part in the Scheme.
It spreads your costs
Paying by Direct Debit allows payers to spread the cost of their purchases by paying monthly, quarterly, half-yearly or annually.
It’s a trusted payment method
Direct Debit is well established and trusted so you should feel confident using this method of payment.
It provides protection
Direct Debit payments come with a guarantee so you're protected by three important safeguards:
• An immediate money back guarantee from your bank in the event of an error
• Advance notice if the date or amount changes
• The right to cancel at any time.
It’s easy and convenient to set up
Direct Debits are easier to set up or amend than other payment methods.
It can save you money
Many organisations offer you financial incentives for paying by Direct Debit. In fact, you could save hundreds of pounds per year by using this method for all your bills. Landmark Designs currently offers interest free credit for users of the scheme.
It saves you time
You know how much you are paying in advance and Direct Debit does take the time and hassle out of your bills. You can forget queuing at the bank or filling out cheques and posting them. Instead, you can enjoy more time to yourself!
If you feel that you need more information, please check out the Direct Debit scheme with your bank or financial advisor.
Interested?
All you need to do to qualify for interest free credit with Landmark Designs is to simply
register your basic contact details here
Please note that registration is totally free and does not commit you to enter any arrangement. You may de-register at any time you wish.