An Introduction to our
Commercial Bureau Service
The Commercial Bacs Bureau Service is aimed predominantly at the Corporate sector. If your business has a significant turnover and a long trading history, you would normally be able to apply for your own SUN which would be sponsored by your bank. You can then choose between handling your own Direct Debit collections and Direct Credits (Bacs payments) in house, or outsourcing them to a Commercial Bacs Bureau such as FastPay.
Whilst using your bank to handle your processing can be costly, a Commercial Bureau service will normally work out considerably more economical than handling the processing on your own. Furthermore, the bureau service will remain completely invisible to your customer who will see only your name on their bank statements.
The FastPay Commercial Bureau Service will save you the initial outlay on expensive Bacs software and the often overlooked on-going support, licensing and upgrade fees. You will also avoid having to pay staff who are dedicated to the complex task of managing your Bacs processing and who would have to undergo regular Bacs training to ensure that they are up to date with all the latest legislation.
In other words, we can offer you a cost effective solution providing you with complete peace of mind to pursue your other business activities.
And the best news is that our Bureau rates are even cheaper than our already competitive Facilities Management rates from just 5p per collection! There are no minimum monthly or annual fees for our services and you will not be tied into a long-term contract of any kind.
How Does This All Work?
|1.||We will import and prepare all your Bacs AUDDIS or Collection and Payment files, large or small, and instruct Bacs to process them on the day of your choosing.|
|2.||Collected funds are transferred directly from your customer’s bank account into your business account on the day of collection.|
|3.||A proactive Bacs reporting service will keep you updated at all times with regard to any bounces, cancellations etc.|
|4.||Our fees will be invoiced once a month and a detailed breakdown of our charges will be provided.|
Our Comprehensive Bureau Service Also Includes The Following:
|•||A professionally designed and personalised Bacs approved Direct Debit Mandate is provided utilising your own Service User Number.|
|•||Fully integrated, professionally designed and Bacs approved Paperless signup pages can be provided should you wish to accept Direct Debit instructions via your website.|
|•||If you prefer to accept your Direct Debit instructions over the phone, guidance notes and a Bacs approved phone script will be provided.|
|•||Full, comprehensive and easy-to-read instructions are provided in plain English to ease your transition to Direct Debit or Direct Credit with minimum disruption to your work schedule.|
|•||Our cutting edge, market leading software is always kept up to date with any changes to Bacs or banking legislation. We are also ready to join SEPA as soon as the European Direct Debit service goes live.|
|•||Our friendly and knowledgeable staff are always on hand to deal with any queries and free lifetime email and phone support is available at all times.|
|•||Full access to your Bacs reports directly from the Bacs website using your unique username and password.|
|•||Full database management with reports available on almost every aspect of your collections history.|
|•||We can write to your customers on your behalf with regard to any Direct Debit or Direct Credit issues using professionally written Bacs approved letters on your own letterheads.|
|•||An automated and managed collection service is available.|