5 Fun Facts About Direct Debit
You may have noticed that we’ve recently switched to Direct Debit, which means paying for your child’s swimming lessons just got a whole lot easier!
But did you know that this easy payment method is all due to everyone’s favourite treat - ice cream? Find out why below, along with some other interesting facts about Direct Debit:
1. Direct debit was invented in the UK - Alistair Hanton introduced the idea in 1964.
2. It was all because of ice cream! - Alistair worked at Unilever (who owns brands like PG Tips and Marmite) at the time and saw a need for regular, trouble-free payments from thousands of Ice Cream vendors.
3. Direct Debit is the third most popular payment method in the UK - Credit card and cash scoop the top spots.
4. A massive 9 out of 10 adults have at least one standing order – So it’s likely that you already have a standing order, and we’re happy to join that crew!
5. In 2017, there were nearly £5 trillion worth of transactions via Direct Debit! – This wasn’t the only record breaking figure for 2017 as there were over 111 million payments in a single day in June – That’s the highest ever recorded!
Thanks to Direct Debit, making regular payments can now be simple and stress free, so the next time you breeze through your banking, remember to thank the humble ice cream!