Is Direct Debit Right for Me?

Direct Debit is right for any company, organisation, charity or sole trader that makes regular collections from their payers. The greatest strength of Direct Debit is the ability to vary the amount being collected and the date of collection. With FastPay you can do either of these as often as you choose at no extra cost. Furthermore, the reporting facility ensures that you are always “in the know” and you can be proactive when one of your payers fails to maintain their commitment to you. The table below provides a few examples of organisations that would gain from Direct Debit, but there are many, many more.
 

Type of Business
Collecting what?
...and the Benefits

Property Management and Estate Agents

Rents (commercial or residential), insurance, maintenance and service charges, ground rents

Collect on specific dates. Reduce administration time and costs. Adjust payments as necessary.

Member Organisations, Health Clubs and Golf Clubs

Annual subscription fees, rents, site fees, and service charges

Automatic renewal reduces member lapse rates and costs. When your fees rise, payments can be adjusted automatically.

Milkmen and Window Cleaners

Regular collections for Products and Services.

Avoid the tedium of going from door to door, and collect monies effortlessly weekly or monthly.

Nursing Homes, Hospices, and Charitable Organisations

Donations and chargeable fees

Continuous and predictable cash flow or revenue stream.

Independent Schools, Nurseries and Crèches

Tuition Fees, Subscription Fees, Hourly Billings, Boarding Fees

Eliminate late fees, make payments easier for parents.

IT and Communications Service Providers

Invoice Billings, Service Charges

Prompt and reliable payment. Adjust amounts monthly.

Accountants

Annual Fees, Service Charges.

Spread the cost for your clients and ease cash flow


 

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