Direct debit
A standing authorisation given to a creditor (utility provider, telecom operator, landlord) to directly pull due amounts from the debtor's account. Unlike a standing order, the creditor initiates each payment and the amount can vary at every due date depending on the invoice.
Why It Matters
Handy to avoid forgetting bills, but must be monitored: a direct debit lets the creditor pull whatever amount they decide. In Belgium (SEPA Direct Debit Core), the payer can dispute and claim a refund within 8 weeks. Ankora flags atypical amounts.
Concrete Example
Variable electricity bill 60-180 € depending on the season → direct debit pulls the actual amount each month. 8-week refund window.