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DIRECT DEBITING YOUR BANK ACCOUNT

This can be risky because of unauthorized withdrawals by unscrupulous companies you may knowingly do business with anytime you allow a company to automatically withdraw funds directly from your personal bank account, supposedly making it more convenient for you to do business with them.

Authorizing some company to tap into your personal bank account to direct debit funds you risk having your bank account drained or emptied. Moreover, if unauthorized withdrawals are made from your account the bank can in no way be held responsible if you indeed authorized the direct debiting of funds from your account. Direct debiting always increases your risk of becoming a victim of a direct debiting mugging, especially compared to using a credit card.

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