5 direct debits to cancel to save on your budget

Simplify your daily expenses. Direct debit allows you to pay an invoice without writing a check or giving a transfer order to your bank. Very easy to use, it takes money from one bank account to transfer it to another without going through the payment method box, whether it is a bank card or a check for example. . Punctual or automatic, it is mainly used to pay regular bills or service subscriptions.

There is a big difference between one-time direct debit and direct debit. As the Ministry of the Interior explains, “you can permanently authorize a creditor to have the sums due deducted from your account, as and when the payment deadlines arrive”.

“This type of payment is often used to repay a loan (consumer loan or mortgage) or to pay bills (telephone, internet, etc.)”, notes the official website of the public service. To set it up, simply complete the direct debit order provided by your creditor, and attach your bank account details (RIB). “A mandate for which no SEPA direct debit order has been presented for 36 months can no longer be used. If the creditor: Person to whom money is owed or the provision of a service wishes to use it again, he will have to make you sign a new direct debit mandate”, specifies the government site.

If it is also very simple to set up, is the process for canceling it just as easy? On this subject, the Beauvau site explains that “you can cancel the order without having to justify your decision, by sending a letter to the bank and your creditor”. Attention, you must send the two letters by registered mail, with request for acknowledgment of receipt.

While many French people have opted for direct debit, some have decided to put an end to it because it had too great an impact on their budget. This is the case, for example, of Paul, a thirty-year-old single who decided to keep it for the most important payments, but to delete it for others. Delivery application, subscription to the gym, to video on demand services… On the 10th of the month, he had already lost three quarters of his salary, without really knowing where his money had gone.

Unlike many young people who swear by bank cards, Paul has decided to pay by check when possible, or by one-off transfer once the invoice has been received. A good way for him to count his real expenses and save money after eliminating some of the direct debits. Discover below the areas of expenditure for which you can forget the direct debit, in order to save money.