Benefits

Here we share with you the advantages of taking payments via Direct Debit and why outsourcing your management and collection processes to Rapidata will benefit both you and your payers.

How your organisation benefits from taking payments by Direct Debit

It’s cost effective

Direct Debits are cheaper to process than cheques or other payment methods.

It’s time saving

Your administration and workload is reduced, and you won’t spend time reconciling payments or chasing late payers.

It’s known and trusted

Direct Debit is the United Kingdom’s preferred method for making regular payments.

It’s flexible

Direct Debit enables you to collect variable amounts on regular or irregular dates.

It’s accurate

Reduced instances of errors mean less rejects or refused payments.

It’s efficient

You control the payment dates, amounts and frequency of payments. Any changes are controlled by you so you won’t be held up waiting for your payer to contact their bank.

It’s reliable

You set the date of the collection and therefore the date cleared funds will be deposited into your account. These regular and predictable payments mean you can forecast and manage cash flow more accurately.

It keeps you informed

Detailed reporting keeps you fully informed on the status of all payments.

It’s secure

Data transactions are processed according to the highest security specifications, and online services provide additional security and accuracy for you and your payers.

It helps reduce attrition

Direct Debits are easy and convenient for your payers, helping to build their trust and reducing the risk of them moving to another organisation.

How your payers benefit from Direct Debit

It spreads their costs

Paying by Direct Debit allows your payers to spread the cost of their purchases by paying monthly, quarterly, half-yearly or annually.

It’s a trusted payment method

Direct Debit is well established and trusted so your payers will feel confident using this method of payment.

It provides protection

Under the terms of the Direct Debit Guarantee, the payer is protected in the event of a collection error and will receive a full and immediate refund from the payer’s bank.

It’s easy and convenient to set up

Direct Debits are easier to set up or amend than other payment methods.