Direct Debit Instruction, a financial transaction in which Citibank will automatically debit your account based on your instruction, to make a payment to another bank account. It is perfect for making recurring payments, such as credit card and utility bills, wherein the amounts vary from one payment to another.
Once you place a Direct Debit Instruction, you will be responsible to ensure that your Citibank account is sufficiently funded at all times in order to satisfy your liabilities to the beneficiary. If there are more than one Direct Debit Requests on your account, the Direct Debit Requests from the Originator will be processed on a first-in first-out basis. This may result in one or more Direct Debit Requests being dishonored if there are insufficient funds in your account to meet all payments. The Direct Debit will be returned without referral by Citibank in case of insufficient funds. In the event of any shortfall, you will be liable for any costs, fees, penalties and charges levied by Citibank. Please also note that partial payment of any Direct Debit Instruction will not be executed.
The below pricing structure pertaining to Direct Debit Instructions on your Banking Account will be applicable effective March 12, 2014:
|Direct Debit||Setup||Stop Payment||Return Due to Insufficient Funds*|
|Banking Account||Free||Free||AED 25|
*Charges of AED 25 is applicable for every return of Direct Debit Instruction due to 'insufficient funds'.
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