‘No Questions Asked’ refund applies to authorised debits for eight weeks after the debit date and up to 13 months for unauthorised debits. Claims for ‘No Questions Asked’ refunds must be honoured by the creditor.”
This clause in the new regulation from Feb 2014 –seems to allow the customer to revoke the direct debit up to 2 months after it has been processed. Part of the reason for moving to direct debit was to ensure timely payment!. In the event of a receiver been appointed to a business they would immediately run a NQA for the previous 8 weeks.
Isnt this a retrograde step !