Debit Direct (www.debitdirect.co.uk)

Job:  new web copy for a direct debit collection company

Challenge: to simplify direct debit and keep the tone friendly yet professional

 

Direct Debit is the most efficient payment option available. At Debit Direct ltd, we help you get the most out of it.

 

Why use Direct Debit:

Never chase a customer again

As a business owner, you have better things to do with your time than running after payments. With direct debit, payments are taken from your customer’s account automatically following your schedule. Whether it’s weekly, monthly or yearly, the transaction will go ahead without any intervention from you.

More certainty

Credit card payments put you at the mercy of your customer, who decide when and how much to pay you. Direct Debit puts you in the driving seat. You get to control the frequency and value of the payment, with the agreement of the customer.

Keep your cashflow going

There’s nothing more headache-inducing than not having a steady stream of cash coming in monthly. With direct debit, you can ensure a continuous flow, giving you the headspace to focus on other things.

Higher chances of successful payment

On average, 3-5% of all card payments fail each month, due to card changes and other details. On the other hand, 99% of direct debit payments are successful. With such good chances of success, direct debit agreements leave you with one less thing to worry about.

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Why Debit Direct ltd?l

No hidden extras

All that you need to pay us is a monthly fee and a flat rate per transaction. You’ll know exactly what you’re paying every month, without any hidden extras.

Stay in control

With our easy-to-use portal, you can adjust the frequency and value as and when necessary, with the client’s agreement. No more being at the whim of your customer.

Complete control

With our online portal, you can manage your account easily anywhere anytime.

 

Here when you need us

With a dedicated account manager just a phone call away, you’ll always have somewhere to turn to with your questions and issues. We’re here for you so that you can be there for your business.

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How it works:

Your first step towards stress free payments is applying online here. We’ll then carry out credit checks in line with FCA regulations.

Once we have accepted your application, you will be given access to an easy-to-use portal. This will be the gateway you can use to manage your account. But first, your client will need to register their account details through it. This can be done online easily on any device using a separate link you can send them.

We can then use that information to make a Direct Debit request to BACS (Bankers Automated Clearing Service). This instructs them to remove money from your client’s account.

Once the instruction is live, you can use the portal to manage payment dates and the amounts debited.

You must send an Advanced Notice to your customer detailing all payment amounts and dates prior to debiting any payments from their account.

Remember, you must send a client 48 hours’ notice before a payment is taken.

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FAQS

 

Why can’t I get a Direct Debit facility direct from my Bank?

For a bank to run a Direct Debit Scheme, it must comply fully with Bacs Service Rules, or risk incurring losses. However, the software and manpower needed for this are difficult to implement and costly to run. Therefore, banks will only issue Direct Debits to companies with whom they have a long and positive trading history.

 

I have just started a new business – Can I use your Direct Debit collection service?

We are generally happy to service new businesses as long as you are not classed as high-risk. With each application, we will complete credit checks and KYC (Know Your Customer) checks on all companies, their directors and shareholders.

 

Do you require any security for your Direct debit collection service?

In some cases, we may require a security deposit, or hold onto a percentage of the funds we collect for you. This can happen if your business is deemed as being high risk.

What documents will you need from me?

For compliance and checking purposes, we will require certified copies of a passport and proof of address for each director and shareholder. We will also need a copy of the company bank statement to comply with Anti Money Laundering regulations.

 

 

Do my Customers have to sign a paper Direct Debit mandate?

No. Your customers can provide these details online using designated sign-up pages. Alternatively, they can give them to you over the phone.

 

How else can I collect payments?

You can set up recurring schedules or collect ad-hoc payments. Both can be done using the portal.

 

I have many customers details stored on my accounting software. Do I have to re-enter the data manually?

Thankfully (almost always) not! Most accounting software packages enable you to automatically create Direct Debit files, or export data in a format compatible with our software. We can assist you with the necessary template format.

What happens if my customer doesn’t have enough funds in their bank account?

If funds are returned unpaid (bounced), you will be notified within 24 hours of collection. You will also be given a clear explanation as to why this happened.

 

When will the funds collected appear in my account?

Your funds will clear in your account on the 5th working day after collection. We can send funds by same-day CHAPS transfer for a small fee.

 

Are you regulated by a recognised authority?

Yes. We are regulated by the FCA (Financial Conduct Authority).

 

What is the Direct Debit guarantee?

Your customers are guaranteed a full and immediate refund of any funds collected mistakenly from their account by Direct Debit.

 

What are the most important rules I need to know about the guarantee?

 

  • Advance Notice

The main direct debit regulations that you must know about are changes to the amount being taken and changes in frequency or date.

If you are not given the correct notice period, you can reclaim a full refund.

 

  • Immediate refunds

A claim for a full refund, or an “indemnity claim”, can be made from your bank for payments taken in error.

 

  • Instant Cancellations

You may cancel a direct debit any time before the payment is due for collection. If funds are still taken after cancellation, you are entitled to an immediate refund.

 

How do my customers claim a refund under the direct debit guarantee?

  1. They can contact their bank on the phone or in writing and simply ask for a refund.
  2. If this fails, they can write to a Customer Service Manager or Branch Manager and refer directly to the direct debit guarantee.

 

How long does the process take?

This depends. Once we have received your application, we need to send certified documents to the bank. Once we have received them back, the account is usually active within 48 hours.

 

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