Technological advancements have been on a very fast pace be it in scientific world or in business world. People have been trying to discover and invent the most convenient ways of receiving and making payments in business at minimum costs, but most of the already popular ones are expensive like receiving payments via credit or debit cards because it involves the fees of merchant banking, receiving or making payments via checks involves bank charges, and cash will be delayed in general. Hence it became necessary to introduce such methods that can ensure regular flow of income on pre-determined dates, thus came the concept of Direct Debits. Organisations that started using this concept could notice an improvement in the flow of cash along with smoother flow of business.
The Direct Debit Dependability
Receiving payments via Direct Debits is completely dependable, especially for the non-profit organisations. Because these organisations serve people without any expectation of profits, their business highly depends on receiving of donations and membership fees from their donors and members respectively. Once you register the donors and members under this service, without bothering both the parties the payment would be made and received on regular basis unless there is some kind of default on the part of donor. This ensures the regular flow of cash that would avoid any kind of hindrance on the activities of the non-profit organisations.
Making it Easy
Signing up new members will never be a tedious or time consuming task because with Direct Debits all you need to do is encourage your customers to sign up on your website and make payments directly online. This would relieve both the sides from all kinds of tensions of making timely payments and receiving them as well. In non-profit organisations, it is essential to have continuous cash flow for better flow of business activities. With the services of Direct Debit, you will exactly know when you would receive the payment and how much amount it would be. This will let you be assured about the way you can progress depending on the available resources.
The Quality of Service
Banks offer limited services when it comes to Direct Debits and because a non-profit organisation cannot show huge turnover, it would be difficult to get the approval from banks. These kinds of problems do not come in the private sector and you will be provided with the best possible services at minimum transaction costs, which is mostly flat rate no matter what the size of the transaction is.
Running a Non-Profit Organisation? Try Using Direct Debits