Direct debit – Jargon Buster

This is an instruction you give to Bank of Ireland to allow a company or organisation to ‘collect’ or take a payment from your bank account.

The amount of money can vary. You must be told the amounts and dates by the company or organisation before it happens.

Direct debits let you pay your bills automatically from your bank account. They’re great for regular payments. This way, you don’t have to remember to pay each bill yourself.