Money Saving Expert Martin Lewis has issued a word of warning to anybody with a UK bank account.
According to Martin, many of us could be having money taken out of our accounts every month without us even realising it.
According to Birmingham Live, Martin made the revelation on Thursday's instalment of the Martin Lewis Money show - which is currently on ITV every week.
Speaking to viewers, he warned of the difference between a Direct Debit and recurring payment - and why you should check your bank statement for them.
He asked co-host Angellica Bell: "Have you heard of this, Angellica?"
When his co-host shook her head, the Money Saving Expert founder proceeded to explain.
He said: "It is called a recurring payment. Have you heard of it?"
"I have, yes, but some people think it is the same as Direct Debits..." his co-presenter replied.
"No," said Martin.
He added: "A direct debit is when you give your sort code and your account number and they take the money each month.
"A standing order is when you set it up yourself to make a regular payment each month, quarterly or whatever.
"A recurring payment - this is crucial - is when you give the long number on your card. A credit card or a debit card.
"Then they can take money from you each month. You have far less rights with that one. You used to not be able to cancel it without contacting the company.
"You can cancel it now. So, if you want to get in touch and cancel it, contact your bank. If they say they cannot cancel it, they CAN.
"And they owe you the money. You can go to the Ombudsman."
The Martin Lewis Money Show continues to air each Thursday night at 8.30pm on ITV1.
It is also available to catch up with via the ITV Hub.
