A Direct Debit mandate is an authorisation given by you to Kravings, allowing us to collect payments directly from your bank account through our payment service provider GoCardless. This authorisation is typically given through a form that includes the your bank account details and confirms their permission to the organisation to set up the Direct Debit.
Here's how a Direct Debit mandate works and what it includes:
Authorisation to Debit: The mandate provides us with permission to debit the your account on agreed dates for specified amounts. It also allows for adjustments if amounts change over time, as long as advance notice is given.
Bank Details: The mandate includes the your account number and sort code, which we need to set up the Direct Debit.
Direct Debit Guarantee: In the UK, Direct Debit mandates are covered by the Direct Debit Guarantee, which ensures that any incorrect or unauthorised payments are refunded immediately by the bank. This gives you added security and assurance.
Payment Amounts: These will be fixed payments debited from your account, the final payment may vary.
Direct Debit mandates provide a secure and convenient way to manage regular payments, and the process is regulated to ensure transparency and to protect the your rights.