Direct Debit

Payment by Direct Debit is an inexpensive and efficient way of collecting periodic payments from your various customers in respect of e.g. subscriptions, insurance policies.

Payment by Direct Debit improves your cash flow as you will have full control over payments due from your customers.

• You will be able to collect payment from your customers’ account on the date when payment is due, instead of waiting for your customer to initiate payment
• Funds are credited to your account in bulk on the date specified by you
• You submit debit instructions electronically from your office via file transfer. You can subsequently reconcile the bulk credit on your account against the file total
• You will need to obtain a mandate from your customers to debit their account
• We will provide you with specifications for the file transfer
• We will discuss with you the agreement that you will need to sign prior to taking up service
• You will require a modem to transfer files electronically
• Files must contain 10 or more payments
• Manual instructions are accepted (10 or more payments)