Direct Debit definition

Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Direct Debit means a payment service for debiting a payer's payment account, where a payment transaction is initiated by the payee on the basis of the payer's consent given to the payee, to the payee's payment service provider or to the payer's own payment service provider;

Direct Debit means a national or cross-border payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent;

Examples of Direct Debit in a sentence

• If PayPal resubmits any SEPA Direct Debit payment request due to reversal of the original payment, there will be no (additional) information given on the amount and the time frame ahead of the resubmission.

• We will keep any information (including your account details) in your Direct Debit Request confidential.

• If you use a SEPA Direct Debit mandate for the continuous authority: • You can access the mandate and the mandate reference number (MRN) in your PayPal account profile at any time and cancel or change the mandate for future transactions.

• Please note – A freeze period does not affect the Minimum No. of Direct Debit Payments you are due to make and any payments remaining at the time of the freeze will remain due and recommence on a monthly basis once the freeze period has completed.

• You should refer to the Direct Debit Request and this agreement for the terms of the arrangement between us and you.

More Definitions of Direct Debit

Direct Debit means the payment services for debiting a Payer payment account where a payment account is initiated by the Payee on the basis of the Payer’s consent given to: • the Payee or • the Payee payment services provider or the Payer payment services provider.

Direct Debit means a payment transaction initiated by the payee and debited to the Client’s myPOS Account where the amount of the payment is specified by the payee.

Direct Debit means a transaction originated by the beneficiary, as authorised by you so the amount can vary each time if necessary.

Direct Debit means a written instruction of an Obligor authorising its bank to honour a request of VWFS to debit a sum of money on specified dates from the account of the Obligor for credit to an account of VWFS.

Direct Debit means a service for making payments from the payer’s account which are initiated by the payee on the basis of the payer’s consent (whether given by the payer to the payer’s bank or to the payee or to the payee’s bank).

Direct Debit means a payment made pursuant to the Direct Debiting Scheme;

Direct Debit an automated payment method set up between you and us to send payments to organisations in accordance with a direct debit mandate given by you to the organisation which manages the frequency and amount of each payment; “E-money” monetary value issued by us to your Account on receipt of funds on your behalf in our Customer Funds Account, equal to the amount of funds received; “European Economic