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Direct Debit in the UK does this. You can cancel any instruction at any time, usually through your online banking where all instructions and charges are listed.

• smsm42 12y ago
  In Israel, the same arrangement exists. I was very surprised when I learned that in the US you give to the company your account number and they basically can initiate money pulls any time they like and the bank does not have a list where you say who is approved and who is not. That seems to be kind of backwards and insecure. I know there are probably ample reasons for that but I'd feel much better if it was arranged like that. Paypal and Amazon Payments and other systems like this provide partial solutions but why banks wouldn't do that? Looks like something that belongs there.
• icebraining 12y ago
  Same here in Portugal. And we also have free virtual CCs with predefined limits.