What is a Direct Debit?
- A Direct Debit is a secure and convenient way to pay regular bills automatically from your myPOS account.
- It allows an organisation or service provider to collect payments directly from your account once you have authorised a Direct Debit Mandate with them.
- Common examples include utility providers, telecom companies, accounting services or software subscriptions.
How does it work?
- When you choose to pay a company by Direct Debit, you will authorise a Direct Debit Mandate directly with that company.
- You’ll provide them with your myPOS sort code and account number.
- The company’s bank will process this Mandate through the UK Bacs payment scheme.
- On the collection date agreed with your service provider, your payment will be debited from your myPOS account and will appear under “Transactions”.
Where can I find my sort code and account number?
- You can find your account details in the myPOS app or Web Dashboard under GBP Account > Account details. These are the details you share with your service provider to authorise a Direct Debit.
How can I see my Direct Debit payments?
- Once a Mandate has been created by the company you’re paying, each payment will appear in your transaction feed showing the merchant's name, date, amount, and status.
Can I set up or cancel a Direct Debit?
- You don’t set up a Direct Debit in myPOS. You authorise it directly with the company you’re paying, using your myPOS UK sort code and account number.
- To cancel a Direct Debit, open the myPOS app and go to your merchant account. Then navigate to “Payments”, select the Direct Debit you want to cancel, and tap Cancel Direct Debit (red button) to confirm.
If a payment is already due in the next few days, it may still be collected before the cancellation takes effect. - If you need help stopping an upcoming payment, contact myPOS Support at least two Business Days before the payment is due.
When will payments appear on myPOS?
- Once your Direct Debit Mandate has been set up by the company you’re paying, it will appear in your myPOS account. The payment itself will be shown on the date it’s taken, usually the date you agreed with the company.
Is there a fee for using Direct Debit?
- No. Setting up and paying by Direct Debit is free for all UK myPOS Business Accounts.
Is this feature available in other countries?
- This Direct Debit service is currently available only for myPOS accounts in GBP registered in the United Kingdom. myPOS also supports SEPA Direct Debit for EUR accounts across eligible European countries.
How secure is Direct Debit?
- Direct Debit is a well-established payment method managed through the UK Bacs scheme.
Each payment is processed securely and covered by the Direct Debit Guarantee provided through the company collecting the payment and their bank.
This means that if a payment is taken in error, you can request a refund from the company that collected the Direct Debit.