Direct debit security concerns

CROSS-border direct debits are not secure in the way they are being set up by the banks, the European consumers’ organisation, BEUC, has warned.

They have been backed up by the European Parliament’s Economic Affairs committee that said it too was concerned about the risks to this element of the Single European Payments Area (SEPA).

The scheme to eliminate all banking borders within the eurozone came into effect last year but take-up particularly of the direct debit elements has been slow.