Direct debit

The debit by direct debit or direct debit is a type of transaction or banking operation for which the bank charges or debits a receipt in the bank account of a client without the intervention of the latter. The debit by direct debit is defined by the following parameters:

• They usually correspond to subscriptions for regular services or uses by the final consumer.
• They are payable to their presentation.
• The Customer Account Code (CCC)- IBAN, i.e., Office, Household, Control Facts and Account Number, although the lack of this requirement is correct.
• There is express prior authorization on the part of the holder of the charge account so that all debt orders of equal characteristics can be charged in unforeseen account.
• It does not imply funding or advance of funds for the Receiving Entity, nor does it imply a shift in valuation.

By using this method, permission is given to a normally service company (water, town hall, telephone, gas, etc.) to automatically charge the account without customer mediation. This method can also be used by a bank to deposit an amount of money from another bank at no cost. Once the debt has been collected, if it is less than €3,000, you have 30 calendar days + 2 business days to undo the collection.

Although the regulation allows it in some countries, direct debit normally does not entail expenses or commissions for the final consumer, but it does for the ordering entity. The entry into force of the Directive on the Single Euro Payments Area (Directive 2007/64/EC of November 13), on payment services in the internal market, implies a substantial modification of direct debit, both in as in installments.