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How do I cancel a direct debit?

How do I cancel a direct debit?

You can cancel a direct debit online up to 8pm (UK time) on the day the payment is due to be taken from your account.

Before you cancel a direct debit you should usually let the payee know that you're about to do this.

 

Cancelling a direct debit online

 

  • Log in to Online banking at www.onlinebanking.iombank.com (opens in a new window)
  • Select 'Payments and transfers' from the main menu
  • Select 'Direct debits' tab, select 'Manage direct debits'
  • Select the appropriate direct debit from your 'Direct debits' list
  • Select 'Cancel direct debit' and follow the instructions on screen.

It may take up to 24 hours for the balance of your account to be adjusted.

If you cancel your direct debit at or after 8pm (UK time) on the day the payment is due future payments will have been cancelled. However, the payment due on that day will already have been taken and we will not have been able to retrieve it.

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