Direct Debits

Direct Debits are instructions from people to their bank or building society that authorises Eazipay or another organisation to collect money from their accounts.

The first time you add a new payer:

1. You send Eazipay the information of your new payer.
2. Eazipay gives the bank five days notice that there is a new Direct Debits
3. On day ten Eazipay debits the payer’s account and moves the money into a client holding account.
4. Cleared funds are transferred to your account on day twelve.

Once your client is on the Eazipay system, the payments go thought automatically in the frequency you specify – monthly or as infrequently as annually.

Direct Debits are trustworthy because of the Direct Debit Guarantee:

• If you increase or decrease your charges, Eazipay will inform your customers 5 days in advance. The increase is implemented automatically
• If an error is made the Banks and Building Societies will refund the money immediately to their account holders
• Direct Debits can be cancelled in writing at any time by either party

The Direct Debit Guarantee is supported by all banks and building societies that offer Direct Debits.