Setting up Direct Debit with Capital One

Expert1_2

Is it possible to set up direct debit with capital one when the the name of the account holders (Bank and CC) is different? Normally, a paper DD mandate request with the signature of the holder of the originating account should be sufficient.Is that a correct assumption?

[Deleted User]

Should be fine.

Expert1_2

Deleted_User wrote: »

Should be fine.

How do I do it? The online form lets me enter "name." It makes me wonder what's stopping someone else using my details to set up a DD payment? :huh:

codeX

Expert1 wrote: »

It makes me wonder what's stopping someone else using my details to set up a DD payment? :huh:

There is nothing preventing from someone doing it. I got direct debits setup to my current account for credit cards and gas/electricity accounts in my OH's name.

It's a bit insecure if you ask me. :huh:

SuperHan

The Direct Debit guarantee is what stops it.

You can set up a DD with just account number and sort code, but if a DD is taken from your bank without your authorisation, you can ring your bank and have the amount refunded immediately.

Expert1_2

SuperHan wrote: »

The Direct Debit guarantee is what stops it.

You can set up a DD with just account number and sort code, but if a DD is taken from your bank without your authorisation, you can ring your bank and have the amount refunded immediately.

It would still be a huge risk for someone who does not check his/her bank statements very often. There has to be a better way of stopping someone from taking money from my account and causing a hassle!

Anyways, I want to setup a DD from a parent's account (obviously with their consent). All I have to do is submit their details online and ask them not to dispute the mandate with the bank. Sound incredibly easy to me.

Buzby

And that's the carp system we have in place! As the debit can be disputed, it would be pointless setting it up without permission - in the hope the payee wouldn't notice!

SuperHan

Given that I've not made any real concerted effort to hide my bank details from others, and I've been paying for almost everything applicable by DD for getting on 10 years, I've not had a single issue with a DD. To me it's a system that works.

While the system does seem easy to trick, there's only a limited incentive to, and checking your account once in a while isn't the most onerous task. You should be doing it anyway, as there's a much greater risk of your card details being compromised and money being taken that way, and that can be more of a burden to fix if left for too long.