You are being debited

A creditor must inform you of the amount they intend to debit, and the date of the transaction, 14 days before the money goes out of your account. You may also agree a shorter or longer period. You will usually receive this prior notice in the form of an invoice, but it can also be sent by email or text message. If you pay a monthly advance payment by direct debit (your energy bill, for example), the prior notice of the amounts and the due dates will appear on the previous year’s annual settlement. This is where you’ll find the direct debits already sent to us by creditors and ready to be debited from your account. You can also see them on Internet Banking, in the ‘Future’ overview, or in Access Online in the ‘Scheduled direct debits’ overview.

If you don’t have enough money in your account on the day that a direct debit is due, the amount will not be debited from your account. The direct debit will be rejected immediately or given the ‘in progress’ status. You’ll be able to see this on Internet Banking or Access Online. Direct debits given the ‘in progress’ status will be taken out of your account as soon as you provide sufficient funds. This must be within no more than four working days (for a SEPA core direct debit) or one working day (for a SEPA business-to-business direct debit) of the original scheduled date. Otherwise, the direct debit will be rejected automatically.

Creditors can correct a SEPA direct debit transaction if they make a mistake, for example. They may do this up to five working days after the direct debit has been taken from your account. The correction entry, which is also called a reversal, will appear among the transactions in your account. The interest date of an amount credited will be the same as the interest date of the amount deducted, so you will not lose any interest.

You can enter various direct debit settings for your payment account. The standard setting for direct debits on a payment account is: ‘Allow direct debits for your account. But you can restrict or refuse certain direct debits’. This setting applies to all SEPA core direct debits.

You can block direct debits submitted by a specific creditor and/or for specific mandates. Or you can set a limit for a direct debit, such as a maximum amount per debit or a maximum number of direct debits per calendar year. You can only do this if ABN AMRO has previously received a direct debit transaction from this creditor.

You can also change the standard setting for direct debits on your account to: ‘Refuse direct debits for your account. Allow certain (limited) direct debits.’ This is known as setting up a direct debit approval list. You give explicit instructions about which direct debits may be taken from your account. You can also enter limits for these direct debits, such as a maximum amount per debit or a maximum number of direct debits per calendar year. This is only possible if ABN AMRO has previously received a direct debit transaction from this creditor.

If you decide on this standard setting, we’d advise you to check your rejected direct debits carefully. If you forget to approve a direct debit, it could be rejected unintentionally.

You can manage your direct debit settings on Internet Banking, under the heading ‘Manage’, or contact us if you’d prefer.

Please note: these direct debit settings don’t apply to SEPA business-to-business direct debits. You must always register the details of a mandate for a SEPA business-to-business direct debit. If you want to withdraw authorisation for a specific SEPA business-to-business direct debit from your account, you should cancel the mandate registration for that SEPA business-to-business direct debit.