By Daniel Hunter

Based on volume data from Halifax, the average current account holder now makes more than five Direct Debit transactions every month.

Figures from Halifax show the most widespread use of Direct Debits is to pay for financial services, with the largest monthly payment made by Direct Debit usually a mortgage, followed by card payments and insurance.

However, the most common uses for Direct Debits are to pay for insurance transactions,followed by mobile phone contracts, TV & Broadband packages, and energy bills.

"The simplicity and security afforded by Direct Debits has helped the volume of transactions to increase significantly in recent years," Anthony Warrington, director of Halifax Current Accounts, said.

"Most customers appreciate the convenience and understand that paying regular bills by Direct Debit means it is easy for them to see what disposable income is left to spend after all other commitments have been met."

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