
Direct Debit Authority (DDA)
A Direct Debit Authority (DDA), which is typically used for loan repayments, utility bills, and insurance premiums, is a signed authorization granted by a bank account holder that permits payments to be automatically deducted from their account on scheduled date. In the UAE, this is processed through the banking system under Central Bank of UAE regulations and requires the account holder's IBAN and written or electronic consent. It can be cancelled at any time by notifying the bank/ lender.
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