Direct Debit
Direct Debit leads the way as a payment vehicle for the collection of payments. There is no better way to ensure regular payments are collected on time and reported in a timely manner.
At Rapidata we understand the benefits of Direct Debit and the importance they have on your business:
Cost Effective
Whether you collect subscriptions from members, donations from benefactors or regular charges from a customer, Direct Debit eliminates the time consuming tasks of handling mail, checking & banking cheques or collecting with standing orders.
It's a simple and efficient way of collecting payments that also allows up-to-date reports to be easily created for your finance, sales or marketing teams.
Direct Debit also gives you greater control & flexibility not offered by Standing Orders, allowing you to amend payer details quickly and efficiently.
More Predictable Cash Flow
As you are in control, collecting payments from your customer's bank account, rather than relying on them sending cash, cheques or authorising an inflexible standing order, it becomes easier to predict accurate cash flows.
And because there's no mail to be sorted, cheques to be handled or banking to be organised, it will save you time and money.
topIncreased Customer Retention & Loyalty
With the safe guards that are offered under the Direct Debit scheme and the ease with which you can change the customer details, this makes Direct Debit a preferred method of payment not only for your organisation but also for your customer.
For your organisation this means increased customer loyalty - by making Direct Debit available to your customers you are giving them what they want.
Reduced errors
The setup and collection process reduces errors and therefore eliminates the possibility of costly mistakes.
Rapidata is an approved BACS Bureau that enables us to transmit Direct Debits on your behalf. By using us to collect your Direct Debits, you not only save money in not requiring additional technology but you also benefit by not recruiting additional staff to manage the collections. We give you the peace of mind that your Direct Debits are processed on time, trouble free and managed by an experienced team.
topWhat Services do Rapidata offer?
If you're not currently a Direct Debit Originator we will help with setting you up.
- Submission of AUDDIS files setting up your Direct Debit Instruction
- Submission of your Direct Debit Payment file
- Posting of all unpaid items AUDDIS returns and ADDACS (Amendments & Cancellations) advices.
If bank statements are made available, Rapidata will reconcile the Direct Debits before reporting on the payments.
Rapidata will report all Direct Debits collected and returned unpaid in a format and frequency determined by you.
The file format will be tailored to meet your requirements so you are able to Import it directly into your database system. The file(s) will be transmitted and have the necessary security protocols as outlined by you.
Rapidata takes a very flexible approach to the file format and will do everything possible to ensure the minimum of effort is required by you.
Maximising the Potential of Direct Debit
Paperless Direct Debits
We understand the importance of quick communication with your client giving them the opportunity to reinstate their direct debit.
Reinstating Direct Debits
Having all the information about any Direct Debits that have been returned unpaid is all very well, but it may be that you don't have the time or resources to act on it. We are able to do that for you.
We can contact a payee on your behalf and give them the opportunity to reinstate their Direct Debit. This will not only help maintain your revenue stream, it also helps to improve your customer retention and build closer relationships with them.
top
