Direct credit

Hi there little one! Today we're going to talk about direct credit. Direct credit is when someone puts money directly into your account without you having to go to the bank or do anything. It's like when your parents give you your allowance by putting it in your piggy bank at home.

So let's say your neighbor wants to pay you for mowing their lawn. They can give you cash, but they can also choose to do direct credit. They would need to know your bank account number and sort code. This is like giving someone your name, address and phone number so they can find you.

Once they have your bank details, they can go to their bank or use their online banking app to send the money directly into your account. This usually happens within a few hours, so you don't have to wait very long to get your money.

Direct credit is really handy because it means you don't have to go to the bank or wait for a cheque to clear. It's just like magic - the money appears in your account!

That's direct credit explained, I hope you found it helpful!