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Query about repaying student loan and banking.
busiscoming2
Posts: 4,461 Forumite
Not sure if this is on the right board.
My dd has a student loan she is paying off, she is living and working in Southern Ireland. She has been paying by sending a cheque each month from her UK based account. She now wants to pay by direct debit and the SLC has said
My dd has a student loan she is paying off, she is living and working in Southern Ireland. She has been paying by sending a cheque each month from her UK based account. She now wants to pay by direct debit and the SLC has said
it needs to be an account held at a British Clearing Bank. Does this mean a uk bank? Or a bank that would handle sterling?
Thanks
Thanks
0
Comments
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Direct Debits are run through BACS, which is a UK-based payments system that works in sterling. Aside from the currency, the bank would have to participate in the Direct Debit Scheme - i.e. be a UK-based bank.Anything I post is my opinion, so from time to time I may be wrong. I try to provide answers based in fact, however I don't know everything, so (like all posters on MSE), take what I say with a pinch of salt.0
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