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What is the difference between a direct debit and a recurring payment?
A direct debit is a regular automated payment to transfer funds from your bank account, using your BSB and account number. When a direct debit is set up, you are giving permission to a merchant or service provider to debit your account regularly to pay for the services they provide you.
A recurring payment is a regular automated payment set up from your Bank of Sydney debit card. This is done by providing the merchant or service provider your card number, expiry date and 3-digit CVV number on the back of your card. This enables the merchant or service provider to charge your card regularly for the services they provide you.