Collecting payments from your customers can often be an overwhelming task. Like most businesses, you might also have been receiving these payments either through cheques or bank transfers up till now. Why not opting for a scheme that can efficiently help payment collection to be done on time and without a hassle?
Setting up Direct Debit brings you lots of life-saving benefits. Let’s find out here how you can sign up for this valuable scheme in three simple steps.
- Select a Direct Debit Provider
This is perhaps the most important aspect to get the most out of a Direct Debit scheme. You should consider those options recommended by those people you can trust. Besides referrals, it is also a good idea to research the market and compare the services and benefits of different Direct Debit services providers. Ideally, choosing providers associated with your accounting software company can be fruitful in several ways.
- Invite Your Customers
After you have chosen a Debit Direct provider, invite your customers to pay you through Direct Debit. This can be done by emailing them the request form or including a link on your official website or invoice. Once you get the authorization from your customers, it becomes a hassle-free task to receive payments on time.
- Request Payments
The Direct Debit collection allows you to set up a payment schedule and notify your customers about the due dates in advance. This helps them make sure they have adequate funds in their bank accounts to make payments. The best part of such a process is that your service provider handles Direct Debit collection on your behalf. Eventually, you can save on time and energy that is otherwise not possible with traditional payment collection methods.
Direct Debit is very popular because of the strong protection it offers against frauds. However, it is vital to decide on the right service provider to handle Direct Debit collection from your customers. Make sure they are efficient and reliable so you are paid as soon as possible without having to pay lots of money for the same.