Direct Debit has been an excellent way of automating monthly payments for businesses and customers. People with a direct debit account know that they do not need to worry about forgetting the due dates for their monthly bills. Since this innovative payment method helps you ensure automatic bill payments, you will never miss a due date or receive late payment penalties.
- Save Your Time
As a business owner, you can help your customers get rid of the hassle of posting a cheque or paying by card. You can ask them to switch to direct debit from traditional payment methods and save plenty of time every month.
Direct debit can assure you the most secure form of payment with almost zero chances of fraud. This payment method also helps your accounts department spend less time since they wouldn’t need to send reminders or run after your customers for unpaid invoices.
Debit direct allows you to set a due date for all of the payments. You can also change these due dates at any time for you as well as for your customers. It can be handy in keeping your business running smoothly since the representation of an unpaid direct debit comes with a 90 percent success rate.
- Easy Banking
Direct debit allows you to streamline your banking accounts. Your banks will notify you of the payments and non-payments with their pro-active reporting systems. With these systems, you can benefit from flexible collection dates and collect payments on your preferred banking day.
You can also help your patrons and clients to benefit from direct debit by setting them one. For this, you can research using keywords on “how to set up direct debit for my customers” in Google and follow the simple steps given to get an account for them.