Direct Debit & Standing Order
An authorization that lets a company collect variable or recurring payments directly from your account.
A direct debit, and the related standing order, automates recurring payments such as utilities, rent, loan instalments, or subscriptions. With a direct debit the payee pulls the amount, which can vary like an electricity bill, while a standing order sends a fixed amount you set yourself. Automation prevents missed payments and late fees, but it also makes it easy to keep paying for things you no longer use. Reviewing your direct debits regularly is one of the fastest ways to cut wasted spending. Assetli detects recurring payments automatically and flags your subscriptions.
Example
Your electricity provider collects a $90 direct debit on the 15th of each month, adjusting the amount up or down based on your actual usage.
Try in Assetli
Read more
Related terms
Recurring Transactions
Transactions that repeat at regular intervals — subscriptions, loan payments, salary deposits — essential for predicting future cash flow.
Bank Synchronization
The automated process of importing transactions from bank accounts into a financial management tool, either through API connections or file imports.
Cash Flow
The net amount of money moving in and out of your accounts over a given period — positive when income exceeds expenses, negative when it doesn't.
Explore more terms
Transaction Categorization
The process of classifying financial transactions into categories like groceries, rent, or entertainment to analyze spending patterns.
APR (Annual Percentage Rate)
The annualized cost of borrowing expressed as a percentage, including interest and mandatory fees, used to compare loan products.
Interest Rate
The percentage charged on borrowed money or earned on deposited/invested money, expressed as an annual rate.
IBAN
International Bank Account Number, a standardized format for identifying bank accounts across borders.
Overdraft
A credit facility that lets you spend more than your account balance, up to an agreed limit, for a fee or interest.
Creditworthiness
A lender's assessment of how likely you are to repay borrowed money, based on income, debts, and payment history.