The Direct Debit Guarantee is one of the main reasons that the Direct Debit Scheme has been so successful. With payers completely protected from any errors that occur they can place their confidence in using Direct Debit as the safest and easiest way to pay regular bills, fees and donations. When you compare the instances of fraud in other areas such as credit and debit cards, Direct Debit compares very favourably.
Since January 2011, there is only one approved version of the Direct Debit Guarantee that should be used. A copy of this is below. It does not have to be sent as part of the Direct Debit Instruction, although it can be, however it must be provided to all customers who sign up to pay by Direct Debit. For more details about your responsibilities with regards to the Direct Debit Guarantee, please contact us.
The Direct Debit Guarantee – approved wording:
- This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits.
- If there are any changes to the amount, date or frequency of your Direct Debit the organisation will notify you (normally 10 working days) in advance of your account being debited or as otherwise agreed. If you request the organisation to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
- If an error is made in the payment of your Direct Debit, by the organisation or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
- If you receive a refund you are not entitled to, you must pay it back when the organisation asks you to.
- You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.