How Direct Debit works

"Direct Debit is one of the most popular payment methods for businesses and individuals alike."

A Direct Debit is an instruction from a customer to their bank that authorises a business or another individual to collect money from their account.

The authorisation does not state how much is to be taken, or when and how regularly the payments are to be made.

The details can be changed by the collector, provided they have informed the customer first.

Direct Debit is easy, reliable and secure.  Over 80 per cent of adults in the UK have at least one Direct Debit and it is one of the most popular payment methods for businesses and individuals.

Direct Debit with Eazipay

With over 20 years experience in the Direct Debit collections industry, Eazipay is perfectly placed to help you improve your business’s cash flow management processes and help you save time and money by establishing regular payment collection via Direct Debit.

The Direct Debit process is incredibly simple; it’s our prime objective, however, to make this process even easier! Setting up Direct Debits online with Eazipay, or adding a new payer for the first time, takes a few simple steps:

  • First, you just need to send us the information about your new payer.
  • We’ll then give the bank five days notice that there is to be a new Direct Debit
  • On day ten, we’ll then debit the payer’s account and the funds will be credited directly into the unique client holding account which we personalise in your company name
  • Cleared funds are then transferred to your account on day twelve.

Simple!

Once your clients are on our system the payments go through automatically at the frequency you specify – monthly or as infrequently as once a year.

Direct Debit through Eazipay, also gives you greater control. If a Direct Debit bounces, we will inform you by email within 24 hours. You can then approach your customer professionally and efficiently to discuss the situation.

A bounced Direct Debit can be re-presented within days, provided the customer has been informed in writing. And all the customer has to do is ensure there are sufficient funds in their account

Direct Debit’s have become a household name. They are recognised, respected and trusted the world over. If you increase or decrease your Direct Debit charges, we will inform your customers five days in advance and he change will be implemented automatically

If an error is made with a Direct Debit, banks and building societies will refund the money immediately into your customers account. Additionally, a Direct Debit can be cancelled in writing at any time by either party.