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;
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

  • Cancellation of any Direct Debit Authority does not affect your liability to pay the fees in full under the contract.

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

  • PWD, will keep a record of the Direct Debit Authorisation for 7 years from the last Direct Debit date, in accordance with APCA’s policies.

  • You authorise the first drawing under this Debit Arrangement will occur on the day nominated under the Direct Debit Request.

  • Cancellation of the Direct Debit Authority does not affect your liability to pay the fees in full under the contract and will require approval by authorised agents of the Supplier.


More Definitions of Direct Debit

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 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 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 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
Direct Debit means a transaction where the customer permits someone else (recipient) to instruct the Bank to transfer money from the Customer’s Account to that recipient, on a date or dates agreed by the Customer and the recipient. The amount may vary.
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.