Wombat <None@given> wrote:
There is *no such thing* as a "Direct Debit Card"


There are Debit Cards which allow you to perform transactions which
debit your bank account immediately, they often also allow you to
withdraw cash and other such things. These Debit Cards may also be
Visa marked which means they are accepted for Visa payments but they
are still acting as Debit Cards.


Then there are Direct Debits which are a means of allowing a business
to take money from your bank account directly, automatically and very
cheaply. Businesses that do this have to comply with all sorts of
rules before they are allowed to do it and there are all sorts of
guarantees in place to prevent it being abused. You can always cancel
a Direct Debit authority and then there is no way the company can take
further money from your account (unless something goes wrong of
course, nothing is perfect). A Direct Debit isn't a card at all,
normally it can only be instigated by filling out and signing a form
which must be sent to your bank. However it does seem that it is now
possible to create a Direct Debit on line.


Debit Cards have no connection whatsoever with Direct Debits except
that they are bot associated with a bank account.

--
Chris Green

Agreed should have re read ment "Debit Card" or "Switch Card"

tinnews@isbd.co.uk wrote:

On Fri, 3 Nov 2006 10:46:32 UTC, Wombat <None@given> wrote:

"Switch" is now "Maestro" !

--
[ 7'ism - a condition by which the sufferer experiences an inability
to give concise answers, express reasoned argument or opinion.
Usually accompanied by silly noises and gestures - incurable, early
euthanasia recommended. ]

Graham wrote:

Nope. I have never accounted that way when running my company
and I have never heard of such accounting practice.



That is fair if it were the case.
However, I have no reason to believe it was the case.

[snip]
Some small companies can choose the "cash accounting" option. The VAT
literature I have seen says that this is only possible after some time
(possibly years) operating the more conventional system I describe. You
issue the invoice, but you don't have to pay VAT until you receive the
payment from your customer.

I doubt very much that Demon falls into the "small company" category - see:
http://www.businesslink.gov.uk/bdotg...mId=1073790844


--
Graham

Graham <graham@nospam.demon.co.uk> wrote:
below which you can operate Cash Accounting. The "good behaviour"
period *is* required to move to Annual Accounting though.

--
Chris Green