Direct debits (Quickbooks Online)

[Tigris]

Hi,

I'm looking to setup a pay monthly service for some of my current clients.

Not sure the best way to setup the direct debit payments?

Can anyone advise?

Thank you

 

[StevensOnln1]

GoCardless give you a link you can send out to customers to setup a direct debit mandate which you can then use to collect recurring or one-off payments from them. Can also be integrated with various accounting, CRM or other systems. Fees start at 1% + 20p a transaction.

 

[JEREMY HAWKE]

I dont take Co Cardless but the van rental company take DDs on two vans every Friday and our Virtual Office in Truro use it and as a customer I would say it works very well

So I would recommend it as your customers would be happy

 

[Deleted member 356896]

I’ve used Go Cardless before. Very reliable service in collecting money and they’ll notify you if someone cancels their DD.

However be aware they may freeze your accounts and not allow you access to funds.

I had to jump through several hoops to get access to my funds.

I did get my money back eventually. Fortunately I wasn’t reliant on it for cash flow as I only used it for a proportion of my customers.

For this reason I’ve since stopped using them.

 

[MyAccountantOnline]

Hi,

I'm looking to setup a pay monthly service for some of my current clients.

Not sure the best way to setup the direct debit payments?

Can anyone advise?

Thank you

Is standing order an option? It's what I use for pay monthly fees I have no issues with it.

 

[StevensOnln1]

Standing order relies on the customer to set it up with their bank and adjust it if prices change. You also won't know if it's been cancelled until the payment fails to arrive.

 

[numbersrule]

I’ve used Go Cardless before. Very reliable service in collecting money and they’ll notify you if someone cancels their DD.

However be aware they may freeze your accounts and not allow you access to funds.

I had to jump through several hoops to get access to my funds.

I did get my money back eventually. Fortunately I wasn’t reliant on it for cash flow as I only used it for a proportion of my customers.

For this reason I’ve since stopped using them.

Hi SSAS
Can you clarify? Are you saying if someone cancels their DD, then GoCardless may freeze your accounts?
Which accounts?
I have registered with Go Cardless but have not signed up any Clients to DDs yet and your post is putting me off. What you describe sounds totally unsatisfactory.

 

[Deleted member 356896]

Sorry if I wasn't clear.

All the customers that I had using direct debit had the money taken from their accounts successfully.

Go Cardless normally hold on to the funds for a short period before passing on to your bank account.

I'd used Go Cardless for sometime without issue.

However they froze access to my funds. I could see they'd received money on my dashboard but they wouldn't release the funds to my bank account.

This was in 2021. I've dug out the initial email they sent me. I read the initial email thinking this would only take a couple of days before they'd release the funds but from memory it took nearly 2 months to resolve. Luckily I wasn't reliant on the funds for cashflow.

I've not used them since.

I've removed any personal details from the email:

------------
We are getting in touch from GoCardless as your account has been highlighted for a review.

What does this mean?
As a regulated Authorised Payment Institution, part of our commitment to our regulatory and compliance requirements includes reviewing all GoCardless accounts on a regular basis.

Part of this review requires us to ask some additional questions that will help us to gain a better understanding of your account.

While your account is under review you will not be able to add customers, create payments or receive payouts to your bank account.

In a reply to this email, please provide us with:

A detailed description of your business, specifically what you are using GoCardless to collect payments for

A description of how you are adding new customers on GoCardless

A link to your website or other online presence

The average and maximum transaction value you anticipate collecting via GoCardless

If you have any questions or need any help, please just reply to this email. We require a written audit of all matters relating to the review of accounts, meaning you will need to reply to this email directly. Unfortunately, our Support Team won't be able to complete any checks on your account over the phone.

We aim to respond to all emails within two working days, though unfortunately during periods of high demand we may take slightly longer.

We apologise for the inconvenience caused by this review and endeavour to complete this as quickly as possible to minimise any disruption.

Kind regards,

Account Review Team
GoCardless

 

[numbersrule]

Thanks SSAS
Oh I see. Sounds like a routine review. Shame it took so long to resolve though. Thanks for the comprehensive coverage of the communication.

 

[MyAccountantOnline]

Standing order relies on the customer to set it up with their bank and adjust it if prices change. You also won't know if it's been cancelled until the payment fails to arrive.

It does but I've never had a problem with standing orders. It depends on your clients.

 

[Tigris]

Thanks everyone.

Will try GoCardless I think.

The service I am offering I hope to roll out to a few clients at a time so ile make sure things are working well.

 

[macScot]

We use Stripe to take card payments but do not use other features as most of our clients pay by bank transfer.

Stripe do offer a recurring billing feature so worth comparing : https://stripe.com/ie/billing