Announcing Direct Debits for Euro Accounts
April 27, 2022
We are pleased to announce that our business and personal customers may now pay by direct debit from Fire euro accounts. Direct debit is a very common way to pay for utility bills, card acquirer charges, Revenue Commissioners taxes and other regular payments, with the funds taken directly from your account automatically at a specified date. Direct debit payments have been available on Fire sterling accounts for some time, so with the addition of this new feature we hope that more customers will use Fire for more of their day to day payments.
All of your direct debit mandates – the permission you give billers to take funds from your account – are available to see and manage using the Fire online portal.
Managing direct debit payments with Fire
For a euro direct debit to be collected from your account, you will need to provide the direct debit collector with your account name, and your Fire IBAN.
IE IBANS – all your euro Fire account are issued with “IE” IBANs so there should be no issue with businesses collecting funds from your Fire accounts.
Disable DD collections – your euro Fire accounts are by default enabled for direct debit payments. You may disable the collection of direct debits for each account using the “Actions” menu.
Notifications – you will receive notifications in advance of any direct debit payments due from your account.
This gives you time to ensure you have the funds to cover the payment, and helps with cash flow planning. If you feel you shouldn’t be paying a certain direct debit, you can cancel the mandate easily to prevent funds being taken from your account (but be sure to let the biller know so they can correct the issue).
Fire already supports payment by direct debit from sterling accounts, so now, with Fire, you can pay by direct debit in both currencies. This new feature is available to all personal and business customers.
Moving from Ulster Bank or KBC?
Fire provides euro and sterling accounts, debit cards, and a range of payment and integration services – check out our full features page for more information. If you are an Ulster Bank or KBC business current account holder you may consider a Fire account as an alternative.
Once your Fire account is open, you will need to contact your billers to give them your new Fire IE IBANs and account details. Check out our Ulster Bank/KBC information page for more details.
We look forward to introducing more features to the Fire business account throughout 2022. If you have any feedback or queries on this feature release, please do get in touch by emailing email@example.com.
Owen is the Chief Product Officer at Fire and is responsible for the core propositions, design, roadmap and roll out of new product to personal and business customers, as well as embedded solutions for other Financial Institutions and platforms.