Direct Debit Guarantee

In short, the Direct Debit Guarantee is in place to provide assurance to a customer that any money taken in error will be immediately refunded. The Direct Debit Guarantee applies to every single Direct Debit.

On this page, you will find:

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 Lowell Portfolio | Ltd will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request Lowell Portfolio | Ltd 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 Lowell Portfolio | Ltd 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 you are not entitled to, you must pay it back when Lowell Portfolio | Ltd 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. 

For more information, visit Direct Debit Guarantee scheme.

Direct Debit Guarantee explained in simple terms

To put it in simple terms, the Direct Debit Guarantee is there to protect you from incorrect Direct Debit payments. That’s what makes Direct Debit a safe, and appealing, payment method option.

The responsibility of issuing a refund lies with the relevant bank or building society, not necessarily the organisation who made the original error.

When does the Direct Debit Guarantee apply ?

We know that financial terminology can sometimes be confusing. That’s why we want to make it easier to understand for when the Direct Debit Guarantee does and doesn’t apply.

Here are some scenarios where you might be able to claim a refund under the Direct Debit Guarantee:

  • You weren’t given enough notice about a change of amount or date or frequency relating to your Direct Debit
  • The payment was taken on a different date than agreed
  • A different amount than agreed was taken from your account
  • The payment was taken in error
  • The payment was taken after you cancelled your Direct Debit

If you’ve used another payment method or you have any queries regarding your outstanding balance, the Direct Debt Guarantee won’t apply. Other instances where a refund won’t apply include forgetting to cancel the Direct Debit, returning the goods/services, and not receiving the goods/services.

How can I claim a Direct Debit refund from Lowell?

If you notice something wrong with your Direct Debit payment related to your Lowell account, you should first contact your bank or building society. This is because they are the ones responsible for giving you a refund.

Please also get in touch with our team. Once you let us know, we can investigate further and, if you’re entitled, offer you a full and immediate Direct Debit Guarantee refund.

We want to make it as easy as possible for you to make payments and become debt-free with Lowell. That’s why we offer various ways to pay so that you can find the method that best suits you.

This can include setting up a payment plan via Direct Debit, or use your debit card to make a quick one-off payments if your circumstances have changed. Alternatively, if you find that you’d prefer to change payment methods later on, that’s also possible too.