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Direct Debit Guarantee
The Direct Debit Guarantee applies to all Direct Debit payments. It protects you in the rare event there’s an error in the set up or collection of your Direct Debit, for instance, if a payment is taken on the incorrect date, or it’s for the wrong amount.
On this page, you will find:
Direct Debit Guarantee
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This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits
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If there are any changes to the amount, date or frequency of your Direct Debit Lowell Portfolio | Ltd will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request Lowell Portfolio | Ltd to collect a payment, confirmation of the amount and date will be given to you at the time of the request
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If an error is made in the payment of your Direct Debit, by Lowell Portfolio | Ltd or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society
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If you receive a refund you are not entitled to, you must pay it back when Lowell Portfolio | Ltd asks you to
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You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.
For more information, visit Direct Debit Guarantee scheme.
Direct Debit Guarantee explained in simple terms
In simple terms, the Direct Debit Guarantee applies to every single Direct Debit, protecting you just in case someone makes a mistake, like collecting your money on the wrong day, or taking the wrong amount.
The banks are responsible for money being refunded if things go wrong.
When does the Direct Debit Guarantee apply?
We know that financial terminology can sometimes be confusing. That’s why we want to make it easier to understand when the Direct Debit Guarantee does and doesn’t apply.
Here are some scenarios where you might be able to claim a refund under the Direct Debit Guarantee:
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You weren’t given enough notice about a change of amount or date or frequency relating to your Direct Debit
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The payment was taken on a different date than agreed
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A different amount than agreed was taken from your account
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The payment was taken in error
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The payment was taken after you cancelled your Direct Debit
If you’ve used another payment method or you have any queries about your outstanding balance, the Direct Debt Guarantee won’t apply. Other examples where a refund won’t apply include forgetting to cancel the Direct Debit, returning the goods/services, and not receiving the goods/services.
How can I claim a Direct Debit refund from Lowell?
If you notice something wrong with your Direct Debit payment related to your Lowell account, you should first contact your bank or building society. This is because they are responsible for giving you a refund.
Please also get in touch with our team so we can investigate further.
