Direct debits and standing orders
LSV+ direct debits are ideal for automatically recurring payments. In contrast to standing orders, you grant the person sending the bill authorisation to debit your account. This means the financial institution of the billing party can book the amount they are owed directly from your account at the agreed frequency. You are able to contest any debits within a period of 30 days. You can of course withdraw the authorisation to debit your account at any time.
For recurring payments with the same amount, recipient and frequency, the best option is a standing order or to use eBill.
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