What is Direct Debit?
Direct debit is a popular form of payment where the customer gives you their bank account details along with permission to debit funds directly from his/her account. The rules that govern direct debit vary from country to country. Depending on where the customer lives and the type of permission given, direct debit can be used to pay an invoiced amount, to pre-pay an order or to arrange recurring payments.
Direct debit is the secure electronic transfer of an authorized payment from your donor’s checking or savings account into your account. Direct debit may also be referred to as electronic funds transfer (EFT), Automated Clearing House (ACH) transfer, direct payment, automatic bill payment, automated debit and electronic payment.
Direct debit is a secure electronic transfer of an authorized payment from your customer’s or donor’s checking or savings account into your account. Direct debit may also be referred to as electronic funds transfer (EFT), Automated Clearing House (ACH) transfer, direct payment, automatic bill payment, automatic debit and electronic payment.
(back to top) Direct Debit allows the IRS or State to withdraw money directly form you checking or saving account. With e-File, you can set the time of withdrawl at anytime before April 15th, even if you file early. If you file after April 15th, the withdrawl will be immediate upon e-File acceptance.
