What is a Direct Debit
Direct Debit is an automatic way for you to pay your bills from your bank. The bank ensures your payments are made regularly and on time without you needing to remember to pay them yourself.
Not only is paying your rent by Direct Debit convenient, it’s also simple, safe and reliable.
Why pay your rent by Direct Debit?
If you have a bank account, Direct Debit is Stonewater’s preferred method of payment as it’s the safest and easiest way to pay your rent on time - every time.
How do I set up a Direct Debit to pay my rent?
To set up a Direct Debit all you have to do is:
- Ring 01202 319119 and advise us you wish to pay your rent by Direct Debit.
Note: You will need your bank details to hand during this call (ie; your sort code and account number)
- Agree with our income team how much you want to pay and the preferred frequency of your payments.
- We will then send you confirmation of the Direct Debit together with the Direct Debit guarantee, which protects your future payments from mistakes by your bank.
How often do I pay by Direct Debit?
A Direct Debit can be paid; weekly, fortnightly, four weekly or monthly depending on what suits you best.
We suggest you set it up so it comes out of your bank account on the day you get paid or your benefits go into your bank account to ensure money is available to meet the payment. Although many banks are removing charges for unpaid Direct Debits.
How much should I pay?
The amount you pay depends on how much rent you pay and how often you pay it. Our income team will be able to advise and help you work out the amount you should pay.
What if circumstances change?
We will give you 10 days notice of any change to the amount we are going to collect and you will always have the ability to cancel or change a Direct Debit at any time. If you need to change the amount or cancel the Direct Debit, from 11 December 2017, we need to have 5 working days notice to make the change.
Why should I pay by Direct Debit?
Paying by Direct Debit is the easiest way for you to stay in control of paying your rent. It’s totally secure and you’ll have peace of mind, knowing that you are protected by the Direct Debit Guarantee. That means, in the unlikely event your bank or building society makes a mistake, you will get a full and immediate refund.