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What is a direct debit?

A direct debit is an agreement or contract between a customer and a merchant (biller, supplier, service provider) which allows the supplier to debit the customer’s nominated bank account.

When, as a customer, you set up a direct debit you are setting up an agreement between yourself and the merchant. You give that supplier permission to electronically withdraw a nominated amount from your bank account on a date you request and at regular intervals. You will give your bank account details (BSB and account number) to the merchant to allow them to debit your bank account regularly to pay for the services they provide you.

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