A direct debit is a convenient payment method where you authorise a merchant to automatically withdraw funds from your bank account at specified intervals. This is commonly used for recurring payments such as gym memberships, utility bills, or mortgage instalments.
You can pay for multiple direct debits, and there is no fee for this service at Tide. You review your direct debit scheduled for a payment in the SendMoney → Manage → Direct debits.
SEPA Direct debits can only be set up Euros through our SEPA Core direct debits scheme, which allows the collection of funds from your Business account. Currently, we do not support the SEPA B2B direct debit scheme, meaning you cannot collect funds from other accounts.
