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> Further, the US is one of the only countries where you can pull funds from a bank account. Huh? You can do this in the UK, Eurozone, Sweden, Australia, South
by afarrell 9y ago
> Further, the US is one of the only countries where you can pull funds from a bank account.
Huh? You can do this in the UK, Eurozone, Sweden, Australia, South Africa, Canada, and lots of other countries.
https://gocardless.com/direct-debit/introduction/ https://gocardless.com/direct-debit/introduction/
- AnssiH 9y agoCorrect. However, at least in Finland this (SEPA direct debit) is not really used. It is not free for end user (~1€/payment) and banks have it disabled by default for security reasons. For domestic recurring payments we normally use "e-invoice" which requires the user to authorize payments per-invoicer on the bank web service, or if one prefers, just a traditional invoice paid manually with a traditional bank transfer. Both are normally free for the end user.
- pbreit 9y ago12 out of 200 is not a lot. https://en.wikipedia.org/wiki/Direct_debit https://en.wikipedia.org/wiki/Direct_debit
- kwhitefoot 9y agoIn Norway we have a similar system called AvtaleGiro but the bank gives me a lot more control over it than a UK direct debit. For instance I can specify the maximum amount that each recipient can demand and I normally set that to as near the expected amount as possible. If the creditor demands more the payment is refused and I get an email so that I can investigate and, usually, just increase the limit and re-enable the transaction. This doesn't cost me anything. In the UK the banks will pay the direct debit even if you don't have any money and then charge you a fee for the unauthorized overdraft and another fee for the letter telling you about it.