Direct Debit is an integral part of the UK economy.
Our figures show that almost nine out of ten British adults have at least one Direct Debit commitment, with 73% of household bills paid this way; on top of that, 62% of people in GB prefer to pay regular bills by Direct Debit, with 41% advocating it for all regular bills, while the number of people who feel positively towards Direct Debit stands at 77%.
While Direct Debit usage has never been higher, we are committed to ensuring that this trusted and market-leading product continues to meet the future needs of millions of consumers and thousands of businesses alike, remaining a payment method of choice.
It is for this reason that we are launching a public consultation into Direct Debit in October 2016. This process will help us understand the business challenges and customer needs today and in the future – establishing where Direct Debit is functioning flawlessly and where there is potential to adopt changes to enhance the product still further.
We will be publishing a link to our online consultation here, so please check back in October and have your say in the future of the UK’s leading automated payment method.
The findings from our review will be published in the first half of 2017.