Direct Debit is one of the latest methods of collecting and making payments and people all over the UK as well as internationally has been highly appreciating the services of the system. Many institutions including various banks are now offering these services, but with the increasing popularity the numbers of organisations that are involve in fraud have also increased. Thus it is important to be careful before you enter into a contract. The setup is fairly simple and you will be assisted throughout the process of setup. Proper installation is necessary to avoid any future complications and chance of losses.
Administrative Costs and Direct Debits
With Direct Debits, you will be in a position to save a lot on your administrative overheads. Administrative costs will be reduced because all the payments and collection related activities would be handled by the service providers. This would also result in a lot of time being saved in your day-to-day activities, giving you the chance of saving more time in formulating better organisational strategies.
Saving Money with Direct Debits
Any kind of organisation can save a lot of money by using the services of Direct Debit. The basic requirement of the setup is a bank account because all the future transactions and transfers would take place via that account only. The next essential requirement is the existence of SUN (Service User Number), this would be your identification number that would appear on the bank statement of your clients. In case you do not have this number then you would be assisted in gaining one, which might take a few days. The complete process of setting up would kick start only after the attainment of this identification number.
Direct Debits Being Eco-Friendly
With Direct Debits, you will have the option of going eco-friendly by opting to use paperless methods of entering into contract with clients. The transactions can be done via Internet and phone as well, thus eliminating the extra stationary and also the extra time that would be needed for collecting payments.
You would be provided with monthly reports of Direct Debits for reviewing all the activities. Under situations when the payer does not send the money on the specified date, you would be immediately informed about it via a message.
Direct Debits for a Simpler Performance