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Direct Debit Explained
The Advantages of Direct Debit
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Improved Cashflow
When your customers sign up for Direct Debityou know what your income will be and when you can expect to receive cleared funds in your bank account making cashflow issues a thing of the past.

Save time and money
How much time and money does your accounts department spend mailing reminders and chasing errant payers? With BACS reports you can see who hasn't paid at a glance.

Streamline your banking
With Direct Debits you know what amounts are due from your customers and on what date to expect them. Only errors and non-payments will be notified to you. So you can carry out reconciliation by exception.

Automatic represent service
At your request, we will write to your client and automatically represent an unpaid Direct Debit. At 90% success rate this is a cost-effective way of keeping business going.

Improved security and lower risks
With Direct Debit your money is secure. Built in safeguards protect both you and your customer. The Direct Debit vastly reduces the risks of fraud.

Customer loyalty
When everything is ticking over happily customers rarely cancel their Direct Debit instruction. Research has shown an increase in customer loyalty. Instead of looking for new suppliers, many people find it easier to simply continue paying by Direct Debit.

Clear arrears
The flexibility of Direct Debit allows you to offer your customers easy ways to spread the cost of their payments over an extended period of time. At any time you can alter the date or the amount of the next collection.

Go Paperless
Converting your collection method to Direct Debit will dramatically cut down the amount of paper lying around
your office.

 

Peace of mind
Customers have busy lives and many commitments. Your customers have the peace of mind knowing their bills are being paid automatically on their behalf and they will never miss a payment.

An easy life
Direct Debit gives your customer an easy life. Once a Direct Debit has been signed, regular payments happen smoothly on schedule.

The amount that needs to be paid can also be adjusted by customer request. Direct Debit is convenient and saves time. Your customers can forget about writing and posting cheques.

Security and confidence
Direct Debit is widely known as the most secure form of payment and instances of fraud are virtually unheard of.

Budgeting made easy
With a Direct Debit, customers can control their budget and prioritise your payment.

Customers paying by Direct Debit can be given a choice of payment dates, giving them the convenience of choosing the date that suits them best. By offering them a payment plan, your customers can budget their bills more effectively by spreading the cost.

Customers trust Direct Debit
The Direct Debit Guarantee gives your customer the complete reassurance of knowing they are protected by a number of safeguards.

Direct Debit is the only payment scheme guaranteed by banks and building societies who monitor and manage it. Customers are informed of any changes to their collection in writing at least ten days in advance and if an error is made they will be refunded immediately.

A Direct Debit can be cancelled in writing at any time by
either party.


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