Not for profit organisations need a way that can give them assured source of income. These organisations work only on the financial assistance received by donors, and fees paid by the members of the organisation. These sources are recurring and need to be received on a regular basis on the right time and date. Sometimes, the donors might forget to make the donations and sometimes the members might just skip making the payment of fees. To avoid such untoward circumstances, the process of direct debit is now being used in not for profit organisations as well. The services of Direct Debits UK have been adopted by almost all the not for profit organisations to both make as well as receive payments.
The person making a donation with Direct Debits UK into a not for profit organisation will have to bear the charges of transferring money. The charges are flat rate, and no matter how much they donate they will have to pay the same amount of fees. This flat fee structure would encourage the donors to make higher donations and help the not for profit organisations with their donations. This is unlike the process of working of debit and credit card transactions where the fees is decided depending on the size of the transaction made, this method is much more encouraging and easier as well as faster.
With the introduction of Direct Debits UK, you can make it simpler for your donors as well as members to make online payments. Once you enter into a contract with your clients, the money will be directly transferred from their account into your account and on the pre-decided dates. This will let you be assured that a certain sum of money will be received on a date every month or any other regular interval.
The services of Direct Debits UK are provided by many providers, and one of the most successful organisations is SmartDebit. The organisation takes complete care to protect your personal information and will not even let it be misused. The organisation will also provide you with the information regarding each and every transaction that takes place. This information will keep you updated about your bank account details. Both the parties will mutually agree to get into the process and if they want they can even discontinue being in it. There are a few weaknesses that need to be taken care of while entering into the direct debits contract.
Direct Debits UK-Beneficial for Not for Profit Organisations