Becoming a Direct Debit originator - startup

[MisterMusty]

Hi I'm a startup and want to be able to take payments from users of my site by direct debit.

After making preliminary calls to a couple of banks I get the impression this isn't too popular with them as it involves me having some level of trust with them, so as a startup they can't offer it.

Has anyone else set up DD with their business and would they mind sharing how they managed it?

Thanks in advance

 

[Frankus]

Before allowing DDs to be set up in favour of a company, said companu needs a fairly long track record and substantial financial history.

Very very difficult for a start-up, if not impossible.

Best way is to get your customers to set up standing orders if you're going down the regular payment route.

 

[johndon68]

In a previous life, I helped set up the software to handle direct debits for what was a very large multi-national company - even then, the 'manual' that the bank sent that detailed everything that was necessary for us to be able to take direct debits was over an inch thick!!

John

 

[a1isp]

Someone like eazipay will act as the originator and pass on payments to you. You have to pay a setup fee £700ish then around 40p/transaction and £1.50 setup per payee.

 

[louby lou]

Have you tried First Capital Cashflow plc ?
I used them to set up DD's for my small business. I had a requirement for a company that could provide me with a SUN (as the banks said NO!) they did everything for me at a good price