The first fundamental change to the way Direct Debits can be set up and managed in 40 years has been launched today. The new service offered by Cashplus® provides consumers with a cheaper, transparent and easier to manage alternative to traditional banking. Cashplus® could save customers more than £400million a year as it doesn’t charge penalties if Direct Debit payments would send the account into overdraft. Cashplus’ new Direct Debit service has a number of unique benefits, including:

- Low balance alerts – If it looks like a Direct Debit is going to bounce, Cashplus® will alert you by SMS and email before the payment is due
- Instant loans for just 50p a day – If you don’t have the money, Cashplus® offer a loan up to £1,000 to guarantee your bill is paid on time.
- No penalty fees (Debit Protect) – If a Direct Debit can’t go through Cashplus® won’t hurt your pockets further by imposing a penalty

Read more here---: CCR Magazine - New Cheaper and Easier Alternative to ‘Free’ Banking