The direct entry system carries the majority of consumer payments by value.
Direct entry is a convenient, safe and reliable way to send and receive payments.
The system is commonly used by businesses to make recurring, automated payments to and from everyday transaction accounts. These include salary and welfare payments (direct credits), insurance premiums and utility bills (direct debits), and internet (Pay Anyone) banking services.
To make and collect payments, a business needs to be approved as a direct entry user by a financial institution. To set-up direct debit arrangements, customers complete a Direct Debit Request (DDR) authority with the business that will be collecting payments from their account.
We coordinate the rules and processes for direct entry payments through the Bulk Electronic Clearing System (BECS).
Same-day settlement was introduced in November 2013 to reduce risk and improve efficiencies.
acting on any request to stop, cancel or amend a direct debit arrangement
taking steps to ensure no further direct debits are made to the account once the arrangement is cancelled
working with the collecting business’s financial institution to resolve any disputes around direct debit payments.