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How do I set up, view or cancel a Direct Debit?

The company, for example a gym collecting the payments will tell you what to do. Usually, you fill in a form online or sometimes it could be in person or over the phone. They’ll let Ponance Bank know.

The form is called a Direct Debit Instruction or Direct Debit Mandate. An example of what one might look like is shown here with further information on what each part means.

To learn more about how to set up, view or cancel a Direct Debit visit our Set Up and View your Direct Debits page. 

What you need to know and do?

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. The agreement is between you and the company and the bank have nothing to do with that agreement.

If you are under 16 or just need some help ask a parent or guardian before agreeing to make any payments.

You should also make sure you know what you’re expected to pay for the service overall. For example, a gym membership may charge you for a year’s membership but let you pay it with 12 monthly payments. Even if you cancel the agreement they might still look for you to pay for a full year’s membership.

You need to make sure that you have enough money in your account when the company requests it. This is most normally monthly but could be weekly, fortnightly, every 3 months or even once per year. If you don't have enough money in your account, the bank won’t make the payment. The bank won't charge you for this but you may lose access to the company's goods and services. Downloading the Ponance Bank mobile app and/or signing up for payment alerts can help you better manage your money.

What if the wrong amount is taken or taken at the wrong time?

Direct Debits are safe and secure but occasionally something can go wrong. These payments are covered by something called the Direct Debit Guarantee Scheme.

The Direct Debit Guarantee Scheme protects you. This means that if the bank or the organisation collecting the Direct Debit makes a mistake – such as taking the wrong amount – you can get a refund.

You can find out more by visiting the directdebit.co.uk website.

If this happens to you can contact us using the mobile app, online banking, phone or in branch. 

The bank will cancel a Direct Debit if you don’t leave enough money in your account to pay it 2 months in a row. 

How Do I Create, Amend or Cancel a Standing Order?

Visit our Standing Orders with our Mobile App page for details on how to do this. There’s a link on the page to a video if you prefer to learn that way. 

Setting up a standing order and any changes to them (amends or cancellations) require 2 working days notice.

Standing Orders are only available to those aged 16+. 

How can I cancel these payments?

If you are 16+ you can cancel or amend Direct Debits or Standing Orders on the Ponance Bank Mobile App. Alternatively you can use our online chat option, phone us or visit a branch.

If you are 11-15 you can cancel a Direct Debit by using our online chat option, phoning us or visiting a branch. Standing Orders are only available to those aged 16+.  

Setting up a standing order and any changes to them (amends or cancellations) require 2 working days notice.

When will we contact you about Direct Debits/Standing Orders?

• When a new company takes a Direct Debit payment from your account for the 1^st time we’ll let you know who the company is, the amount and the time you have to cancel the payment.
• We’ll contact you when you create, change or cancel a Standing Order.

Direct Debit Fraud & Scams

Criminals are always looking at ways to scam people for their money. They use lots of ways to try and do that. You’ll find some information here about what to look out for on Direct Debits and how you can avoid being tricked by the criminals.

Get-Rich-Quick and Refund Scams

Direct Debit Mandate Example

When you are setting up a Direct Debit, the company will ask for your bank details using a Direct Debit Mandate. This allows the company or online shop to take money from your account. Here is an example of what one might look like. 

Direct Debit Mandate Example