How to Cancel a Direct Debit

February 10, 2020. In view of the large number of queries received by the BCRA, here are the options available to financial services users who would like to cancel a direct debit quickly and easily.

You can instruct your bank to cancel a direct debit, without reporting your decision to the payee or the payee's bank. This is even the case for direct debits that were set up by using a single banking code known as CBU. You do not have to explain the reason for cancellation: your bank has to follow your instruction at your sole request.

In other words, you can definitively cancel a direct debit through the financial institution where you hold the account (Consolidated Text on the National Payment System - Direct Debit, paragraph 3.1.3 ii)).

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