There are two types of Direct Debit available to members:
- Direct Debit Outbound
Setting up an outbound Direct Debit is a great way to ensure your bills are paid on time. A Direct Debit can be set up with any service provider. This is a simple and reliable way of making repayments, ideal for monthly or quarterly bills. To set up a Direct Debit quote your IBAN and BIC to any service provider. Ideal for electricity, gas, oil or other bills.
- Direct Debit Inbound
An inbound Direct Debit can be set up over the phone or by calling into one of our offices. A member of staff will assist you in completing a Direct Debit Mandate form authorising the Credit Union to deduct a specific amount from your bank account on a regular basis and pay this into your Credit Union account. You can set up the Direct Debit to pay your loan or to make savings.
Fees and Charges
First South Credit Union does not impose any fees and transactions charges for Direct Debits.