Direct debits not a hit with Britons

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Direct debits not a hit with Britons

New research from the Portman Building Society has shown that millions of pounds are wasted across the UK every year as people set up poor value direct debits.

Over half of those surveyed said that they consider direct debits to be bad value with magazine subscriptions found to be the least satisfying of all.

Gym memberships and life insurance policies are also considered to be bad investments by many.

Helen Shaw, group communications manager for Portman Building Society, said: "We would encourage Britons to think twice before signing up to a service or product you may regret a few months later."

"The best value direct debit would be one that goes directly into a savings account!"

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