Direct Debits
With the introduction of the Single Euro Payments Area (SEPA) Regulation in 2012, consumers are able to make use of direct debits to initiate regular payments by signing an agreement ('mandate') to give consent to the beneficiary so that the latter can pull funds from the payer's bank account when a particular payment is due.
Direct debits are ideal for payments which are periodic in nature, such as recurring payments, subscriptions and payments of bills. Direct debits enables the payer to avoid late payment fees as it is the responsibility of the beneficiary to initiate the process to collect the payment.
Further information related to the SEPA Direct Debit Scheme may be requested from the Central Bank of Malta by sending an email here.