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A direct debit is a payment taken from your account by a third party, once you have given them written permission. You might pay bills such as your mortgage, telephone bill or services such as your gas or electricity by direct debit.
You may, for example give the ESB permission to withdraw variable amounts of money to pay your electricity bill every two months.
To stop a direct debit you must first contact the third-party supplier - in this example, the ESB - in order to cancel the permission you originally signed. You should also make sure to contact your bank in writing to let them know you want to cancel the direct debit.
Most banks charge a penalty if there is not enough money in your account to meet the direct debt. See our personal current account cost comparison to compare fees and charges.
You can find out more about the direct debit scheme in Ireland, by visiting the Irish Payment Services Organisation (IPSO) website.
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