Direct Debit: Analyses, Advantages and Disadvantages

Direct debit as an article topic

The term "direct debit" is usually applied in financial institutions. It is used frequently by banks and insurance companies. Also, other companies still make use of the term. Sometimes people mistake direct debit with standing oder but they are quite different. Though the two terms require debits from bank accounts, direct debit is initiated by companies to banks while standing orders are initiated by banks to individuals account numbers.