Collection Direct Debits

[thetiger2015]

Does anyone have any experience of collecting direct debits?

My company deal with monthly property maintenance. At the moment, we send invoices to everyone and then have to chase them up which costs a considerable amount.

Some of our clients have asked if they can set up a Direct Debit, so they know they're going to get charged a set amount on a set day.

Looking online, it appears that doing this through our bank may be prohibitively expensive and we also need a unique transaction number?

Does anyone deal with this kind of service? The monthly transactions range between £1,000 and £3,000 per month, so not many companies are interested in dealing with that amount of risk apparently.

 

[@aiteoconsulting]

Try looking at GoCardless.
https://www.gocardless.com/

 

[kevin.doran]

We use GoCardless, it's fantastic. Each customer comes with a £5k limit I believe which should be more than sufficient.

 

[Alan]

up vote for GoCardless, we use it linked to the accounting system ( KashFlow ) invoices created automatically, DD collects the money via GoCardless, transaction automatically recorded in accounts. No chasing, no admin, costs trivial (1% up to a max of £2 per transaction, KashFlow £10 a month - valid discount codes exist too http://badlywired.com/2015/01/kashflow-discount-code/ )