Monthly debit orders, also known as recurring payments or automatic payments, are arrangements where a specified amount of money is deducted from your bank account automatically on a regular basis, usually monthly.
To set up a monthly debit order, you typically provide authorization to a company or organization to deduct funds from your bank account on a recurring basis. This can usually be done by completing a mandate form or providing your banking details online.
If you wish to cancel a monthly debit order, you can typically do so by contacting the recipient or your bank and providing written instruction to stop the payments. Be sure to cancel the debit order well in advance of the next scheduled payment date to avoid any additional deductions.