How Direct Debit is Different from Standing Order




Missing to pay a bill within the deadline can create a hassle. Instant payment methods like standing orders and Direct Debit are the best ways to ensure that your bills are paid automatically on time. While these methods have many things in common, you might not know what is the difference between Direct Debit and standing order?

Automatic Payment Methods with Different Characteristics 

A Direct Debit works as an automated payment system that is set up between you and your bank to make payments to other organizations or people. It is authorized by a customer and controlled by an organization. This means an organization sets up a Direct Debit and manages the amount and frequency.

A standing order follows the same method but it allows the customer to control the frequency and control. It works as an instruction that your customers give to their bank to send you a fixed amount of payment at regular intervals, such as weekly, monthly, or yearly.
With Debit Direct, on the other hand, your customers authorize you to take payment from their bank account at the due time. These payments can be different in terms of frequency and amount.

Different Scenario of Control 

When it comes to a standing order, your customers can set up it to initiate automatic payment. They will decide how much and how often you can take the payment from them. Your customers can also change or control it without needing to notify you.

In contrast, a Direct Debit gives you full control over the payments taken through the method. You can choose the frequency and amount to collect from your customer. A Direct Debit will also allow you to change the amount and frequency of payment collection without any further authorization from your customer. Accordingly, they get automatic notifications of any failures or cancellation by the Direct Debit system.

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