TSB current account changes-direct debits

teddysmum

Kim_13 wrote: »

Just received the email this morning. This is the section:

Direct Debits.
You’re not able to set up Direct Debits on your savings account, although some older accounts do have them.
If you do have an existing Direct Debit on one
of these older accounts, we’ll keep it running. However, you won’t be able to make any changes to it, except to cancel it.
You can set up Direct Debits from any current account you have with us instead.

The bits in bold are what confused me.ie seemingly using on and from in the same context.


My thoughts :


1)Standing order.....you instruct your account to pay another party, so the transactions are set up on the paying account.


2)Direct debit.........You give another account ( could be another of your accounts) permission to ask your account for payment, as required, so it's set up from the receiving account, as it takes rather than paying.


From 2) I assumed, incorrectly, that I could tell my TSB current account to make debits from my Tesco account, as I read as 'transaction made from' rather than 'debit made from'.

polymaff

teddysmum wrote: »

The bits in bold are what confused me.ie seemingly using on and from in the same context.


My thoughts :


1)Standing order.....you instruct your account to pay another party, so the transactions are set up on the paying account.


2)Direct debit.........You give another account ( could be another of your accounts) permission to ask your account for payment, as required, so it's set up from the receiving account, as it takes rather than paying.


From 2) I assumed, incorrectly, that I could tell my TSB current account to make debits from my Tesco account, as I read as 'transaction made from' rather than 'debit made from'.

My rubric, FWIW:

SOs will pay out of the account being instructed.

DDs will pull in to the account being instructed.