How to Cancel Direct Debit HSBC: All You Need to Know

Direct debit is an instruction from you to your bank, authorizing or giving consent to a business or organization to collect a particular amount of money from your account once they are due for payment. Authorization is being accomplished by filling a Direct Debit Mandate form. This form varies; it can be filled out on paper or on a webpage online.

HSBC, or Hong Kong and Shanghai Banking Corporation Limited, is a local bank that was born to serve international needs. They are in the business of serving their customers with commercial banking. HSBC offers unlimited free deposits in the account. You can also automatically transfer extra savings from your savings account to a fixed deposit.

You can set up an account on Direct Debit HSBC, and you can also cancel. In today’s article, we’re going to take a look at vital information concerning Direct Debit HSBC.

What is Direct Debit HSBC?

The direct debit system was introduced by Alastair Houston, a British banker and math graduate, who discovered that the traditional banking methods of paying in cheques were very costly. He had to find a way of putting an end to it, so he sought permission from customers to take payment directly from their bank account. It took six years of campaigning before the high-street banks finally agreed in 1964.

HSBC is one of the world’s leading banking and finance organizations, whose customers range from investors to individual savers. You can also set up an HSBC account and sign in for a direct debit. This happens when you have a current account with them.

Like we have established already, a direct debit comes with authorization; without the payer authorizing the bank to honor payment, it cannot happen. There are two methods in which authorization takes place:

  • One involves only the payer and the payee. Here, the payer authorizes the payee to collect funds from his/her account when payment is due. On some occasions, the payer might instruct the bank to return any direct debit; the payer might give out the instructions with or without reason. In a situation like this, the payee will have to pay all the fees for the transaction, if this occurs too often, the payer might lose his or her ability to initiate direct debits.
  • The second method implies that the payer will instruct the bank to honor direct debit notes from the payee. Before the payee goes ahead to initiate direct debits, the payee must first receive or get notified that he or she has been authorized to initiate direct debit transfer from the payer.

How to Create a Direct Debit HSBC Account

To create a direct debit (HSBC),

  • First, you’ll need to put your details together. Your name, address, and bank’s account number.
  • Next, fill out a Direct Debit instruction form that permits the company to take money from your account. Depending on how the organization operates, this form can be filled online or over the phone.
  • The company will finalize the setup by arranging the direct debit details you’ve issued out.
  • On the agreed-upon date, the first payment will leave your account, this will continue until the direct debit is canceled.

How to Cancel a Direct Debit HSBC

There are several ways one can cancel a direct debit account, it can be through the telephone or online. There are also other ways, but those are the basics.

To cancel Direct Debit HSBC through phone, here are the procedures:

  • Reach out to HSBC customer services on 0345 740 4404. Customer Care representatives are available from 8am to 10 p.m. every day, except for special days like Christmas day, boxing day, new year Day, etc
  • Enter the 16-digit card number or your branch sort code.
  • Explain to the person, when you finally get to them, what you want to do. There are two ways to do it: they can help you immediately or transfer you to the appropriate department responsible for it.
  • Remember that security checks will be run on you, especially the Direct Debit HSBC details. This is why it’s important that you have your details handy with you.
  • HSBC must be contacted the last 3 days before the due date of payment, to avoid the payment going through.

How to Cancel a Direct Debit HSBC Online

To cancel your direct debit online, you need to register first, and at the point of registration, you must input a digital secure key, If you don’t have one, you can opt for a physical secure key. This key is necessary because you will need it to log in anytime you want to use the banking app.

So when canceling your Direct Debit HSBC online, you will also need to log in with your details, username, and secure key.

To cancel:

  • After successfully logging in, your dashboard will pop out on your screen, On the left-hand side of  your phone is a list of bank accounts, Select the account that comes with the Direct Debit.
  • Click the “Manage” button in the right section, On the drop-down menu, “Direct Debit” will be shown to you; click on it.
  • This click will usher you to the list of Direct Debits for that account. The active ones and the previously canceled ones will be displayed, along with the expired ones.
  • It is now up to you to know what to do with the Direct Debit, You have the option of changing the direct debit to another account or completely canceling it. Click on the ‘Cancel Direct Debit’ button if you’re sure you want to do away with it.

Other Ways to Cancel Direct Debit HSBC

Aside from shopping online and through telephoning, one can still decide to visit a local branch in person. You can also write a letter to HSBC UK requesting the cancellation of the direct debit. You don’t have to panic if they respond when you write; as long as you allow enough time before the next due date, your written request will be received and processed.

Whichever method of cancellation you choose to use, always remember to monitor your account to be certain that the exact amount is still being collected if it’s an amendment; if it’s for cancellation, also be on the lookout so further payment will not be made from your account.

If HSBC does otherwise, you can issue or request for a refund immediately.

How to Amend a  Direct Debit HSBC Standing Order

Sometimes, people might have a change of mind about the amount they render for payment; in cases like this, they might decide to change or rather amend the amount.

To do this, it is quickest if you do it in online or mobile banking. To achieve this, you need to cancel at least 2 working days before your next payment is due, if this is not done, there is every possibility that the previous amount will still be taken from your account.

Benefits of Direct Debit HSBC

At this point, we all can unanimously agree that Direct Debit HSBC comes with so many amazing benefits. Let’s delve into some of them.

  • This pattern of making payments is also flexible, and that’s an added advantage; the payer might decide to decrease or increase the amount of money fixed for payment, good news is that you can amend all of this without much administrative hassle.
  • It reduces admin time. Since it has been automated, it doesn’t need to be managed, as it will deliver immediately at the set time it should.
  • Direct Debit HSBC overtime has proved to be cheaper than card payments. Card networks usually cost 3–5% per transaction; with this pattern of cardless payment, it saves money.
  • Failure rates in Direct Debit HSBC are so insignificant, that is, it hardly happens; there’s no issue of expiration just like the card payments or cancellation.
  • It is convenient, time-saving and accurate once it’s been automated properly.

As much as Direct Debit HSBC is beneficial, there are still a few disadvantages with it.

  • At the time of payment, the payer might have an insufficient balance and this won’t permit the payment to sail through.
  • The payer preference should also be taken into consideration, some customers might prefer to make payments manually. Compelling your customers to pay using Direct Debit HSBC may discourage them and take them away
  • Since the Direct Debit HSBC has a set time it’s been processed, the payee or the receiver will have to wait till the due date and time before he or she will be issued payments.


Direct Debit HSBC is a sure way of paying bills and making payments only on the authorization of the payer to the payee, and this is actualized through filling a form either online or on paper.

Direct Debit HSBC comes with so many beautiful benefits which can’t even be overemphasized. This ensures that you do not make late payments as the payer, and the payee has his/her advantage too; there will be no need to chase customers up and down for payment whenever they are due because you’re in charge now.

With Direct Debit HSBC, cancellation doesn’t cost an arm or a leg to do so. It doesn’t stress. All you have to do is ensure that you get them notified 3 working days before the due date. Moreover, you can still choose which way to go about it, either by phone, online, written request or even by visiting a branch.


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