English to Italian Bus/Financial Law: Contract(s)

Direct debits
The direct debit is a payment service whereby a Client pays on a one-off basis or automatically any invoices and claims of his choice by directly debiting his Payment Account. The relevant Client must authorise the relevant Payee, the Payment Service Provider of the Payee and/or the Bank to domicile the claims of the Payee to his Payment Account. The Payment Transaction(s) for the settlement of claims is then initiated by the Payee on the basis of the authorisation given to it by the Client