Why are some institutions reluctant to accept Standing Orders?

Question

I've never paid any of my bills by Direct Debit as I don't believe in giving people ready access to my bank account and my money, I've just tried to set up a new Standing Order and I earn a very good salary but yet they still seem reluctant to accept my Standing Order. I like to be in control of who is getting my money and when, they say that it's not "common practice" to accept them. All my other monthly bills are paid by Standing Order and yet the one I've just tried to set up says they don't accept them,

Why is that?

Which in your opinion is a better and safer way of paying, Direct Debit or Standing Order?

Thanks for your help.

Answer 1

I agree with you.  You should NEVER give anyone else control over YOUR money.  So what you can do is set up through your bank, online banking which is very safe.  You control who you pay and when you pay them.  Just be very diligent about it.  A very good resource on how to get debt free on your own and succeed is the book The Total Money Makeover, by Dave Ramsey.  If do not like to read he has a radio show that is broadcast online free you can access it by clicking http://www.daveramsey.com  this changed my life.  I am debt free after years and years of living check by check and now I am in the process of purchasing a home.

Answer 2

Direct Debit gives the company the right to alter the amount whenever they want to.

Standing Orders require you to cancel and issue another.

Companies love direct debits because they hope you will not notice any increases.

Standing Orders are always safer because they are in the customers favour

Answer 3

A direct debit is easier to control and execute for your banker to perform a service to you with modern technology.  A standing order is difficult to control and implement especially when it have to be manually done and monitor. Oversight often occur due to the heavy work schedules of the person in change of your standing order. A service charge will be charge on your standing order. If you are agreeable talk to your banker.