It would be fair to say that ever since the SEPA deadline extension to August 2014 was announced, there has been a little uncertainty…
The European Central Bank (ECB) themselves have said that the proposed regulation has, “given rise to confusion in the markets on the deadline for migration.”
2013 has been a record-breaking year for Bacs, with their recently published figures being nothing short of spectacular.
The most eye-catching statistics are around the enduring popularity of Direct Debits, with more than 3.5 billion transactions being made in 2013 (equating to a total value of £1.1 trillion).
The Payments Council also reported in 2013 that Direct Debit payments had overtaken cash payments for the first time in 2012,
We never expected to hear anyone complain about Direct Debits being cheaper, but that’s pretty much what has happened with this piece of news.
The issue is around the fact that customers who pay their energy bills by Direct Debit can save around £114 a year (according to the Department of Energy and Climate Change).