A Direct debit is a method of Bill payment where your account is literally Debited Direct by the company you are paying.
A Direct transfer is literally a transfer Directly from one of your accounts into another of your accounts. Usually same day and pretty much instantaneously. (if between accounts held at same bank/branch)
2007-01-20 05:11:38
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answer #1
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answered by angie 5
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Direct debit happens when a bank withdraws money directly from your account,with your previous express permission.
Direct transfer happens when money is directly transferred into an account, either online (with an an 'online' account), or you walk into a bank /post office/Bsociety/ with your money,fill in a transfer form and hand both over the counter.
2007-01-20 05:55:15
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answer #2
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answered by Anonymous
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Direct debit gives the new provider the right to take the money.
Direct transfer means you are choosing to send the money.
2007-01-21 12:41:29
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answer #3
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answered by Anonymous
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Direct debits give company access to your account so they can then take whatever they want, I guess direct transfer you set the amount.
Is your account an internet account? It seems they are saying you can't pay money in over the counter.
2007-01-20 05:45:50
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answer #4
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answered by chippyspie 1
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I think direct transfer is where money goes from your account to another this is known as bacs and is directed by you through the bank ,direct debit is where the company take money from your account on agreement from a form that you have signed ,this is your given permission.,to them i.e.to pay a monthly bill (phone/gas.)etc.
2007-01-20 07:08:12
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answer #5
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answered by Lindsay Jane 6
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Direct Deits are initiated by the SELLER or service provider; direct transfers by the account holder. NOT THE SAME
2007-01-20 05:48:35
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answer #6
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answered by Anonymous
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"Direct Debit" is when the amount is directly deducted from your account balance.
"Direct Transfer" is when you make a deposit, it is directly added to your account balance.
2007-01-20 05:42:49
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answer #7
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answered by Dr Dee 7
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