Direct Debits

[Rachelle]

Just looking through my bank statements online I'm slightly worried about the amount of direct debits that have been set up and that are now just sitting there idle. What's to stop any of the companies taking money out of my account (apart from the law of course!) without me really paying any attention. Isn't there any way I can delete this from file as it were or have I left all of the control with the companies who I was paying money out to?

[Snippa]

Don't understand what you mean by 'sitting there idle'? Does this mean that you are not using the service or product you paid for?

If that is the case, cancel them. And you need to get a hold of your finances. Direct debits can bleed your account dry...

[homara]

I know just what you mean, Rachelle. Even though you've cancelled these Direct Debits with both the receivers and the bank, they sit idle on your bank account records. No money is debited any longer, but still the record remains on your account. I too dislike this. Whilst its highly unlikely that the Direct Debit will suddenly become active once again, it doesn't make for easy record keeping or monitoring of ones own account. I can't undertand why the cancelled Direct Debit record is not simply removed as soon as the administrative process has been completed.

Ps: How's the saving plan coming along? Remember...cutting back on all but the neccesities? Hope you're doing well. I'm not doing too badly, although still room for improvement. Have cut down all the lunchtime cappucinos, lattes, snacks etc and am definately at least £200 per month better off. Have just booked a weekend cottage mini-break with this months savings. Rural cottage, log fire, chill out time for ourselves. Beats throwing the £200 away on coffees and ciabattas!!

[Rachelle]

Homara that's brilliant! Well done! Erm, my finances are doing quite badly. I'm trying really hard but there have been a list of things on my shopping list for quite a while. Now they've come up in the sale I have bought them. My coffee outings etc have definitely been cut down and I think mentally there has been an enormous change in me. I now take a long time to think about whether or not to buy something. And although I still may purchase it, it's not glibly like before. But, there's always room for improvement.

I don't seem to be able to cancel direct debits. I'm not allowed to do it. So, it looks like direct debits are controlled completely by the other person and they can, at any moment, access your account and take money out. That's right isn't it? Terrifying.