Direct Debit Set Up

Direct Debit Set Up


If you have received a request for payment from us and wish to settle the amount due then please complete the following submission

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Direct Debit Details

To pay for a policy by Direct Debit the account holder must:

  • - Be named on the policy as the main or joint policyholder*


  • - Hold Power of Attorney over the policyholder
  • - Be an Executor of a deceased policyholder’s estate
  • - Be a Trustee of a trust if the policy is in the name of a trust

Please note that any policy set up in a company name MUST be set up on Direct Debit using a company bank account in the name of that company.

*This cannot be altered mid-term, whichever policy holder provides their bank details will be the policyholder named on the credit agreement.

Automatic Renewal

To help ensure that you continue to benefit from the cover provided, your insurance policy(ies) will automatically renew at the end of the current policy period. Ahead of your policy(ies) expiry date, we will provide you with a renewal quotation pack - upon receipt of this, you should check that the level of cover offered is appropriate for your needs.

You need to be aware that if you opt-out of automatic renewal and you do not provide your instructions to proceed with renewal upon expiry, all cover will cease at the end of the current period of insurance.

Instruction to your Bank or Building Society to pay by Direct Debit
Please note that the (+44) extension is already prefixed.
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Upon submission of the application for credit to Premium Credit Ltd, they will search the public information that a credit reference agency holds about the policyholder. The credit reference agency will then add details of the search to the records they hold about them, whether or not the policyholder proceeds with the application. This and other information may be used to make credit decisions about the policyholder, and undertake checks for the prevention and detection of money laundering.

If the application is successful, the policyholder will receive correspondence direct from Premium Credit, which will collect the instalments on our behalf.

Please note that all insurance companies who provide Direct Debit must adhere to these rules and carry out credit searches. By applying to pay the premium by Direct Debit, the policyholder consents to the search being made.

Billing Information

This should be the same as the details for your card.

If you are the Executor or have power of attorney please provide your full name, DOB and residential address in the further information box. If any further information or documents are required by Premium Credit we will contact you.