Direct debit

With a direct debit (Lastschrift), the recipient instructs that money be debited from your account. You give a SEPA direct debit mandate (direct debit authorisation) beforehand.

Typical uses: rent, electricity, gas, internet, insurance premiums, subscriptions (Netflix, Spotify), gym.

Your protection: you can have any SEPA direct debit reversed within 8 weeks without giving a reason (in online banking or at your bank). For unauthorised direct debits (without a mandate), even for 13 months.

Tip: check your bank statements regularly for unauthorised direct debits. Especially after cancellations (gym, magazines), some providers keep debiting anyway.