Paper usage is being eliminated in each and every field because of the increased usage of gadgets. Even in Direct Debits it is now being made possible to sign up customers online directly without using paper of meeting personally. All these tasks involved in the set up can be done online itself making it easier and convenient for long term usage. The people or organisations who wish to receive money without any hassle and on time need to just sign up the customers, discuss the rules and regulations involved, and set the date and amount on mutual consent. The other payment means like credit or debit cards might be convenient as well but are on an expensive side, thus direct debit has been gaining popularity hugely all over UK on a fast pace. The number of transactions carried on under Bacs has now gone beyond 5 billion per year and still increasing. The conveniences offered by the service providers at low prices are the main reasons behind the increasing popularity of this service.
The Rules and Requirements
Existence of a bank account is mandatory before applying for Direct Debits service. Complete details regarding the bank account as well as valid email address which is active need to be provided. Rules and regulations of all the service providers differ depending on the services provided and the fees charged. Thus it is advised to properly go through all the rules before applying. In-house transactions as well as outsourcing of website are available, and depending on your needs choice can be made. Generally outsourcing is advised because it is low on maintenance, easy to understand and costs much lesser than in-house transactions. In-house is suitable for those who can afford to spend a lot on the set up as well as maintenance in future. Outsourcing is as safe as in-house transactions, and can in anytime in future be converted into in-house.
E-commerce and Direct Debits
E-commerce is possible with Direct Debits. Customers can make direct payments on your website. This would save their expenses as well as yours too. With the assurance of regular payments of decided amount, you can let your focus be just on formulating business strategies than being worried about how and when you would receive the payments. The setup of Direct Debits is simple and its working is also easy to understand. All the assistance would be provided throughout the time the services are being availed. When compared to all other methods of receiving payments, Direct Debit is the safest and the most convenient forms of receiving regular and recurring payments for long durations of time.
Direct Debits: Technology for Better Future