Any questions about our Direct Debit service?
Here are the answers to your most Frequently Asked Questions.
What is a Direct Debit?
The Direct Debit service is the most popular way of paying bills in the UK, probably because it's both an easy and safe way to pay.
A Direct Debit is an instruction that a customer gives to an organisation, giving it the go-ahead to collect variable amounts from the customer's Account to pay for goods or services. The money is paid automatically, making it a time-saving, highly convenient way to pay bills:
- Ideal for paying variable amounts on variable dates
- Can also pay the same amount on the same date
- Takes care of everything from utility bills to mortgage instalments
Once Direct Debits are set up, your Cashplus Account needs to be kept topped up with enough money to cover payments – that way a payment will never be missed again!
Can paying bills by Direct Debit save money?
Absolutely! Customers can get discounts from everything from gas and electricity suppliers to phone companies. Plus further money can be saved by not getting fined for late payments.
What's so special about the Cashplus Direct Debit service?
We believe that our Direct Debit service is without doubt the very best Direct Debit service offered in the UK right now:
- Insufficient funds alerts – If a Direct Debit looks like it's going to bounce, we alert you before the payment's due, giving you time to top up your Cashplus Account if needed
- Debit Protect™† – as a Cashplus customer you can be automatically approved for an instant loan of up to £1,000, guaranteed to cover a Direct Debit payment if you're short. Check the Members' Area to see if you're already approved or look out for a text or email from us
- No penalty fees – If a Direct Debit payment bounces, we don't charge a penalty fee, saving you as much as £25 per unpaid Direct Debit
What's the difference between a Direct Debit and a Standing Order?
Both are great ways to pay – but there are subtle differences:
- A customer sets up a Direct Debit directly with the organisation that they want to pay. Direct Debits can pay any amount on any date, or a fixed amount on a fixed date – they're very flexible.
- A Standing Order is set up directly with Cashplus. Standing Orders pay a fixed amount on a pre-set date.
Are Direct Debits free?
Direct Debits are free unless otherwise communicated in your terms and conditions.
How are Direct Debits set up to be paid from a Cashplus Account?
It's simple:
- Just call, email or visit the websites of the organisations that you want to pay, and ask to pay bills by Direct Debit from your Cashplus Account
- Or you can just complete and return the Direct Debate Mandate that many organisations provide
The following details are needed:
- The unique Cashplus Account Number (existing customers will find this in the Members' Area, under 'Account details'. If you're about to apply for a Cashplus card, once the Account's set up we'll send the Account details out via an email
- The Cashplus Sort Code: (08-71-99)
- For 'Bank name', put: APS Financial Ltd
- For 'Bank address', put: PO Box 52768, London, EC3P 3WR
Once a Direct Debit is set up, a confirmation email is sent to confirm that everything's ready. Then you can relax – as long as there's enough money in your Cashplus Account to cover the bill, it will automatically be paid.
What is the Direct Debit Guarantee?
For complete peace of mind, all customers are covered by the Direct Debit Guarantee scheme.
So if an error is made in the payment of a Direct Debit by the organisation that the customer wanted to pay, or by Cashplus, a full and immediate refund will be made. What's more, customers are also protected by:
- Notice that a payment amount or date needs to change
- The right to cancel a Direct Debit at any time
Please note that if you're given a refund that you're not entitled to, it must be repaid.
Can I cancel a Direct Debit?
Yes! You just:
- Visit the Members' Area, sign in and then select 'Payments & Transfers'
- Choose 'Direct Debits' and select the one that needs to be stopped, and 'click on' cancel
It's also very wise to contact the organisation involved and let them know that that their Direct Debit is about to be cancelled.
How much notice do you need to cancel a Direct Debit?
Cancel an unwanted Direct Debit as soon as possible! At the very latest, a Direct Debit should be cancelled the day before the payment is due. See the question above for details.
Have a further question?
If you can't find the answer to your query about Direct Debits here, please call us on 0845 401 0204♦, Mon to Fri: 9am to 5pm.
♦Calls are charged at a local rate from BT landlines and may be recorded. Call charges from other networks and outside the UK may vary. We're open Monday-Friday, 9am-5pm.