The Direct Debit Guarantee Scheme protects you. These payments are covered by something called the Direct Debit Guarantee Scheme. What if the wrong amount is taken or taken at the wrong time?ĭirect Debits are safe and secure but occasionally something can go wrong. Downloading the Royal Bank of Scotland mobile app and/or signing up for payment alerts can help you better manage your money. The bank won't charge you for this but you may lose access to the company's goods and services. If you don't have enough money in your account, the bank won’t make the payment. This is most normally monthly but could be weekly, fortnightly, every 3 months or even once per year. You need to make sure that you have enough money in your account when the company requests it. Even if you cancel the agreement they might still look for you to pay for a full year’s membership. For example, a gym membership may charge you for a year’s membership but let you pay it with 12 monthly payments. You should also make sure you know what you’re expected to pay for the service overall. If you are under 16 or just need some help ask a parent or guardian before agreeing to make any payments. The agreement is between you and the company and the bank have nothing to do with that agreement. You should only be setting up Direct Debits with companies when you meet the criteria to use their products or services, for example, you meet their minimum age requirements. To learn more about how to set up, view or cancel a Direct Debit visit our Direct Debit page. An example of what one might look like is shown here with further information on what each part means. The form is called a Direct Debit Instruction or Direct Debit Mandate. They’ll let the Royal Bank of Scotland know. Usually, you fill in a form online or sometimes it could be in person or over the phone. The company, for example a gym collecting the payments will tell you what to do. How do I set up, view or cancel a Direct Debit?
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