direct debit

Definition

› BANKING an instruction to your bank to allow someone else to take money from your account, usually as part of a regular arrangement: Many utility and service companies will allow you to authorize a direct debit from your checking account for the amount due each month. I pay most of my bills by direct debitset up/cancel a direct debit Don't forget to cancel the direct debit if you want to stop subscribing to the magazine.

(Definition of direct debit noun from the Cambridge Business English Dictionary © Cambridge University Press)