Any bank account that allows a scheduled cancellation of a direct debit?

PosterBoy77

I thought I would ask people here I anyone knows of any bank account that allows and end date to be set for direct debits, or to schedule a cancellation date?

I would find such a feature useful to automatically cancel direct debits for subscriptions and the like.

Any pointers would be gratefully received. 

Isthisforreal99

Not that I know off, whole point of a direct debit is that it's the merchant that sets it up and 'controls' it. Obviously you can cancel the DD at any point but that doesn't mean the contract or subscription is cancelled.

Rob5342

I've never seen that feature anywhere. Monzo and Starling don't have that feature so I can't imagine that any other banks do. 

vacheron

I can't really see a benefit and plenty of potential problems.

If this is instead of properly cancelling service with the organisation then it is likely to end up messy, plus if it is a contract cancelling the DD doesn't cancel the contract so you would still be liable for payments. Also if you end something like a phone contract, but there is just a few £ to pay in the next month, this could fail and you could end up with non-payments on your credit report.

Of course, if anything like this happened, customers would be quick to blame the banks for the situation, which is probably why none of them seem to want to touch it with a 10 foot pole!  

flaneurs_lobster

Isthisforreal99 said:

Not that I know off, whole point of a direct debit is that it's the merchant that sets it up and 'controls' it. Obviously you can cancel the DD at any point but that doesn't mean the contract or subscription is cancelled.

Exactly this, the merchant is the one who has control of the DD and has to abide by the DD rules around notification of when/how much will be debited each time. No point scheduling a cancellation if the agreement with the merchant is still in place.

HobgoblinBT

I am not aware of any bank that offers such facilities.  However, most smart telephones have a reminder function as part of the calendar function.  Why not set up a reminder for the relevant date n your telephone?

badmemory

Halifax used to allow you to put in a terminal date but I don't know if they still do. Last worked in April 2021 when I "should" have been able to stop paying my TV licence.

Barkin

badmemory said:

Halifax used to allow you to put in a terminal date but I don't know if they still do. Last worked in April 2021 when I "should" have been able to stop paying my TV licence.

Direct debits can't be set up online - it's done by the company that you're paying.

You can specify an end date for standing orders.

PosterBoy77

Thanks for all the replies. I was looking specifically to cancel direct debits for introductory offers for subscriptions and the like, where there is no ongoing contract. Given that all banks allow cancellations to be made, I am surprised none seem to allow a scheduled cancellation.

flaneurs_lobster

PosterBoy77 said:

Thanks for all the replies. I was looking specifically to cancel direct debits for introductory offers for subscriptions and the like, where there is no ongoing contract. Given that all banks allow cancellations to be made, I am surprised none seem to allow a scheduled cancellation.

Could you give an example of such an offer? Normally DDs are only instigated when there is an expectation of recurring payment(s) otherwise what's the point?

ColdIron

Are you confusing a DD with a CPA (Continuous Payment Authority)? Superficially they appear similar but subscriptions would typically use the latter

The easy way to tell the difference is that a DD requires your sort code and account number while a CPA would use your 16 digit debit card number