UK Direct Debit

UK Direct Debit allows bank account holders to authorise a third party, usually a merchant or biller, to collect money from their account. These payments can be one-off but usually they are recurring. The biller must give advance notice of collection dates and amounts.

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Type Bank transfer
Company behind LPM
Market share details Market share: 50%; used by more than 50% of UK bill payers; more than 4.3 bn direct debits were processed in 2018 – more than eight direct debits for every UK adult.
Market relevance High

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