Direct Debits

Ballard

I've never worked for a clearer but I don't see how banks can earn money from dds other than the standard transaction charges to one or both parties.

From an agency (i.e. non-clearer) point of view they can be a pain in the 'arris sometimes. We once had an erroneous direct debit come through for a customer for £8m. It took us about a week to get the money back and that was when rates were 5-6% so it cost us a few grand.

I think that I read somewhere on the Santander website that the cashback comes out of their p&l.