Lloyds Direct Debits (Teledebit) - Painful

[itsupport]

Hi all,

We use Lloyds for our business banking and we are continuing to setup direct debits for customer payments but it is becoming more and more painful.

Their system would appear to be very legacy. e.g. you setup a DD and you must post them the original copy (2) to make an amendment to a existing DD, you must FAX the changes across. Ok for DD's which total does change but we have customers which DD amount changes monthly, so we are having to fax this across every month.Redicious.

Am I going to have to change banks or what? I want a system where I can setup a new DD online and change the amount going out if needed.

 

[StevensOnln1]

Go Cardless allow you to collect direct debits at a cost of 1% (capped at £2 per payment). Your customers signup online, no paper forms required. Go Cardless deduct their fee from payments they collect then pass the rest on to your bank account via BACS so it doesn't matter who you bank with.

 

[Berics Accounting]

I agree with StevensOnln1. Have been using GoCardless for sometime now and it really makes a difference. Furthermore, it can link with some accounting packages, (such as Xero,) so when you email a client their invoice, there is a payment link on their invoice so they may pay straight away. Really is a great system and not much cost to it

 

[itsupport]

Many thanks, we use QuickBooks.

Was the changeover relatively painless from your previous DD company? or will I need to setup all the DD's again.

 

[Berics Accounting]

Unfortunatley I dont think it links with Quickbooks. I use it with a client on Xero, but believe it can be connected to Sage, FreeAgent and Clearbooks also. And yes, unfotunatley you would need to setup the DD's again however this is incredibly easy to do. DM me if you are interested as I can refer you which means you will receive £50 credit towards any fees

Thanks