Eazipay direct debit provider

[ABCStudio]

Has anyone any experience of using Eazipay to provide direct debit to your clients?

They seem to do everything we need and for 40p per debit it seems too good to be true.

http://www.eazipay.co.uk/

 

[FE]

Sorry i can not give feedback but am very interested if someone else has go any or alternative suppliers for this service

FE

 

[richardys]

No mention of a setup fee, would be interested to know how much that is.

 

[Jheath]

It's not hard to set up your own direct debits. You need an agreement with your bank for a surety based on the volumes you will be doing. There are loads of systems out there but we use a basic manual system at a low fixed monthly fee. Ask your bank for details, but I'm sure it only costs us about £20 per month I dont think there is a charge per transaction although I may be wrong. PM me if you'd like me to dig out the details.

 

[ABCStudio]

I spoke to them at length and have been given a full break down of charges:

Setup fee is £600

Each new client inc required letter £1.50

Debit run £3.00
individual debits £0.40

So to debit 10 clients would costs £7.00

 

[ABCStudio]

It's not hard to set up your own direct debits. You need an agreement with your bank for a surety based on the volumes you will be doing. There are loads of systems out there but we use a basic manual system at a low fixed monthly fee. Ask your bank for details, but I'm sure it only costs us about £20 per month I dont think there is a charge per transaction although I may be wrong. PM me if you'd like me to dig out the details.

My understanding is for a company to get dd you need to be well established or at least cash rich, at the moment we are neither and don't particularly fancy going down the personal guarantees route.

 

[business123]

My HSBC Commercial Manager said recently that they now only require one years trading/account to set us up a DD originator.

 

[FE]

Has legislation regardng DD changed recently? My understanding was turnover in excess of £2M, everal years trading and a procedure audit of your accounts team.

The above was due to (or so we were advised) because of the DD gurantee e.g. if you took £100K from a client then there was a dispute and you could not pay it back the bank would have to refund.

As cashflow is a mjor issue for many DD would help and also many clients wish to pay via DD due to the reduced administration for them. In fact we found it as a bit of a barrier not being able to offer to collect their invoices DD

Does anyone know if anything has changed?

FE

 

[FE]

Sorry not legislation thats the wrong word i meant the entry level for banks to issue this service?

FE

 

[richardys]

I believe you either need to provide the guarantee or find a sponsor (bank) to provide it on your behalf.

Lloyd's have a couple of services:

http://www.lloydstsbbusiness.com/paymentservices/bacsdirect.asp
http://www.lloydstsbbusiness.com/paymentservices/teledebit.asp

But also look at the ppc listings on google.

http://www.google.co.uk/search?q=direct+debit

 

[garyk]

Yes as far as I know, and in my experience of operating DD setting up your own originators reference is far from easy, in fact nigh on impossible. Because its wide open to fraud you will find it very very hard as FE has pointed out.

As for bureau's, Ive used cashbacs not eazipay but they are pretty much the same and yes the figures you quote are about right. What cashbacs do is take a 10% deposit of your collection which gets paid the following month (and then they take 10% from the current month and so on) and it works very well.

One other thing to note is that even with paperless DD you still have to get customers to sign a paper copy of a DD mandate which you must keep on file.

Gary

 

[richardys]

One other thing to note is that even with paperless DD you still have to get customers to sign a paper copy of a DD mandate which you must keep on file.

Gary

I would imagine that is the case with the bureau's but the large cooperates no longer require a signed paper copy.

 

[billbateson]

We've been using Eazipay since 2003 and they are great. Fantastic customer service although we've never had a problem so I've only called them to ask questions. I couldn't run my business without them!
Bill

 

[billbateson]

Has anyone any experience of using Eazipay to provide direct debit to your clients?

They seem to do everything we need and for 40p per debit it seems too good to be true.

I've been using Eazipay since 2003 and they are great - never had a problem and they are always really helpful when I have questions. I coudldn't run my business without them!
Bill

 

[streetslocal]

That looks fishy does that last post

 

[billbateson]

That looks fishy does that last post

Sorry - my first time using this forum and the first post did not appear (or at least I couldn't see it!) so I did it again... I think I've got the hang of it now!
Bill

 

[HorizonTelecoms]

I have had a nightmare with most of the DD FM Providers- Telecoms is a high risk business- and the applications are not checked by humans all done by compauters. i am fighting to get DD in my business as most people expect to pay there mobile by DD. we are part of a large group and even they where refused DD Facitlities.
I have spoken with Eaziypay & going to try and sign up with them, Go Cardless are shocking