Direct Debit Instruction
By electronically agreeing to the Direct Debit Instruction (DDI) as part of the sign up for a Square Account, you authorise us to direct debit any Chargebacks or associated payments due to any Square Entity under the General Terms or any of the Additional Terms (as they may be modified or amended), from the pound sterling denominated bank account set up for Square Services and designated by you in the DDI. To verify your linked bank account, you authorise us to withdraw an amount of 0.01 GBP, which we shall then refund. Please make sure you have at least 1 GBP in your bank account to prevent your bank verification from failing due to insufficient funds.
You must ensure that (a) the financial institution specified in the DDI accepts and acts upon direct debits for the account specified in the DDI (banks and building institutions may not accept DDI for some types of accounts) and (b) the account details specified in the DDI are correct (for example, by comparing them with a recent statement from your financial institution or checking these directly with your financial institution).
It is your responsibility to ensure you have sufficient cleared funds available in the account to be debited on the direct debit collection date.
In the event that you do not have sufficient cleared funds and a direct debit to your account is returned unpaid, you will be notified that your payment has been returned unpaid and a request will be made for you to credit your bank account with additional funds, and we will reinitiate the direct debit and collect the direct debit without additional fees.
Notwithstanding anything to the contrary in the Direct Debit Guarantee, we may provide you with less than 10 days’ notice when initiating a direct debit from your account, but in any case will notify you at least two business days in advance of any direct debit from your account.
The Direct Debit Guarantee below will immediately follow the Direct Debit Section of the Payment Terms. The logo on the onboarding page will be directly hyperlinked to this location on the Payment Terms.
The Direct Debit Guarantee
- This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits.
- If there are any changes to the amount, date or frequency of your Direct Debit, Squareup Europe Limited will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request Squareup Europe Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
- If an error is made in the payment of your Direct Debit, by Squareup Europe Limited or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
- If you receive a refund to which you are not entitled, you must pay it back when Squareup Europe Limited asks you to.
- You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.