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RBA Glossary definition for direct debit

direct debit – A pre-authorised debit on the payer's bank account initiated by the recipient (payee).

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Topic: Payments

11 Sep 2018 Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/payments/

Cheques and the Payments System

10 Oct 1996 Bulletin – October 1996
in contrast, direct debit payments continued to account for only 4 per cent of non-cash payments. ... There are signs that this is changing as banks begin to promote the use of direct debit to pay utility accounts, insurance premia and the like.
https://www.rba.gov.au/publications/bulletin/1996/oct/2.html

The Ongoing Decline of the Cheque System

15 Jun 2017 Bulletin – June 2017
Ed Tellez
Cheque use in Australia has declined significantly over the past few decades and currently represents only a small share of non-cash payments. This decline reflects changes in the payments market as a result of technological change and customer
https://www.rba.gov.au/publications/bulletin/2017/jun/7.html

Banking Fees in Australia

24 Jun 2013 Bulletin – June 2013
Jessica Pratten
The Reserve Bank has conducted a survey on bank fees each year since 1997. The results of the most recent survey suggest that banks' fee income from households continued to decline in 2012, but fee income from businesses increased substantially.
https://www.rba.gov.au/publications/bulletin/2013/jun/5.html

Developments in the Buy Now, Pay Later Market

18 Mar 2021 Bulletin – March 2021
Chay Fisher, Cara Holland and Tim West
The buy now, pay later (BNPL) sector is growing rapidly and new providers and business models are emerging.
https://www.rba.gov.au/publications/bulletin/2021/mar/developments-in-the-buy-now-pay-later-market.html

Bank Fees in Australia

18 Jun 2020 Bulletin – June 2020
Stephanie Crews and Michelle Lewis
The Reserve Bank’s 23rd annual bank fees survey shows that, overall, banks’ income from fees declined in 2019.
https://www.rba.gov.au/publications/bulletin/2020/jun/bank-fees-in-australia.html

Two Years of Fast Payments in Australia

19 Mar 2020 Bulletin – March 2020
Emilie Fitzgerald and Alexandra Rush
It has been two years since the public launch of the New Payments Platform (NPP) and the Fast Settlement Service (FSS).
https://www.rba.gov.au/publications/bulletin/2020/mar/two-years-of-fast-payments-in-australia.html

A Guide to the Card Payments System Reforms

10 Sep 2010 Bulletin – September 2010
Michele Bullock
the recipient's financial institution. Examples of payment systems in Australia include cheques, debit and credit cards, BPAY and direct credits and debits. ... The standards for EFTPOS and Visa debit interchange fees were introduced in 2006.
https://www.rba.gov.au/publications/bulletin/2010/sep/7.html

Property Settlement in RITS

18 Mar 2021 Bulletin – March 2021
Gabrielle De Freitas and Emilie Fitzgerald
Property transactions are among the largest and most significant financial undertakings that many Australians enter into.
https://www.rba.gov.au/publications/bulletin/2021/mar/property-settlement-in-rits.html

Banknote Quality in Australia

10 Jun 2012 Bulletin – June 2012
Arianna Cowling and Monica Howlett
There is also a ‘neutral’ Quality Score range, where no credit or debit is applied. ... This system of credits and debits was agreed between the Bank and the industry, and reflects agreed minimum quality standards.
https://www.rba.gov.au/publications/bulletin/2012/jun/8.html