What is a Direct Debit?

A Direct Debit is where a person (Payer) authorises a business to withdraw funds from their bank or card account. Typically used for recurring or subscription payments such as gym memberships and utility bills, they usually occur at set intervals, but may be for varying sums of money.

If you are looking to set up a Direct Debit payment on your Beyond Bank loan please see our loan repayment options here.