Direct Debit

When it comes to financial technology, choosing the right payment processing solution is crucial for your business. Two major players in the payment platform industry are Access PaySuite and GoCardless. In this blog, we will compare these platforms to help you make an informed decision that suits your business needs.

When it comes to managing your business's finances, accounts receivables (AR) play a crucial role in ensuring your company's financial stability. One of the most common and effective methods of collecting payments is through Direct Debit payments. In this blog post, we will explore the benefits and drawbacks of Direct Debit payments and whether they can improve your accounts receivables.

With 9 out of 10 households with at least 1 Direct Debit, Direct Debit is one of the cheapest and most popular types of payment in UK. Direct Debit is used by different sized organisations, from SMEs to enterprises who use it to collect regular or recurring payments including utility payments, mobile phone bills, membership subscriptions, regular giving and business invoicing.

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If you’re a business looking to drive cashflow, it’s worth considering how to set up Direct Debit for  your customers. There are several ways to do this – but first, you’ll need access to the Direct Debit Scheme. You can do this by speaking to your bank or via a Direct Debit provider – what you decide will depend on the size of your business and the number of transactions or payments you collect.

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A Direct Debit Instruction (DDI) is authorisation by a payer to their bank for funds to be withdrawn from their account to pay a service user (a business, or rarely an individual).

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In this helpful guide, we share the different ways an organisation can collect payments by Direct Debit and the mechanisms which make them work

ARUDD (Automated Return of Unpaid Direct Debit) reports detail any Direct Debit not paid by the Paying Bank and each one has a unique reason code.

AUDDIS (Automated Direct Debit Instruction Service) is the Bacs service enabling organisations to set-up new Direct Debit Instructions electronically.

AUDDIS (Automated Direct Debit Instruction Service) is the Bacs service enabling organisations to set-up new Direct Debit Instructions electronically.

A useful guide to help you understand the terms and acronyms associated with the Direct Debit collection process and related activities.

ISO 20022 will be adopted to improve flexibility with data formats, domestic interoperability and international harmonisation, particularly regarding credit messaging standards.

Paperless Direct Debit (PDD) is a service that allows an organisation to collect their payments by Direct Debit without customers having to fill out and sign paper mandates.

If you're considering processing your own Direct Debit collections rather than using a bureau, here are 4 things you may wish to consider

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SmartDebit explores what the addition of 'Confirmation of Payee' in payment authorisation may mean for Direct Debit.

Whether you're already collecting payments by DD or looking at it as a payment method for the first time, you may wish to become a Direct Debit originator.

Bacs, the Direct Debit system operator, has recently communicated to all service users to reiterate the rules surrounding advance notice.

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How do you encourage customers to pay via your preferred recurring payment method? We explore 5 tips to sign up customers successfully to Direct Debit.

If you collect Direct Debit payments, get some tips on ways to store your customer Direct Debit Instructions and advice on how long you should keep them for

The Payment Services Directive (PSD2) aims to improve security and fraud prevention, but also to “foster innovation and competition”.

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Offering donors multiple ways they can donate is always a good idea. One of these should be Direct Debits and within this blog we highlight the reasons why.

If you are collecting recurring payments by Direct Debit, you should always expect to have your name on your customers’ bank statements.

Can Direct Debit be used for variable payments? Can Direct Debit be used for one-off payments? This blog post answers those questions.

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PSD2 is the legislation that will be applied across the EU and its Member States by 13 January 2018. It is an update from the original directive (PSD) adopted in 2007. The PSD created a single market for payments and the foundation for a Single Euro Payments Area (SEPA).

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UK banks are introducing a new way to combat financial fraud. It’s called Confirmation of Payee (or CoP for short) and you’ll notice the changes when you make or receive payments from your bank account.

The Direct Debit Guarantee is provided by all banks and building societies that accept instructions to pay by Direct Debit. It is one of the main factors contributing to the success of the Direct Debit Scheme because it provides assurance to the payer that any monies taken in error by the Direct Debit Service User will be refunded immediately by the payer’s bank.

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With the range of payment methods currently available for recurring transactions such as subscriptions, service fees, memberships, and regular donations, it’s beneficial for any organisation to be sure that they have the right method for their needs. Payment churn relates to the amount of money an organisation is owed versus the amount that it is actually receiving, and it should be a key consideration when deciding which payment method to use. SmartDebit customers enjoyed an industry-leading low payment churn of 0.39% overall in 2018, with a large number achieving 0.01%. Here we explore why this is important and how it can be achieved.

There are many benefits to you as a business when you provide customers with the option to pay via Direct Debit. As one of the UK’s leading Direct Debit bureaus, we’ve put together a guide explaining the benefits for businesses and their customers, and provided you with a few clever incentives to boost your Direct Debit sign ups!

The payments industry is constantly evolving and it can be hard to keep up with the plethora of new solutions entering the market. A good place to start is with a sound understanding of the two core methods of payment, known as push and pull payments. Here’s a look at the differences between these payment methods, to help you narrow your search and decide which one is better suited to the needs of your business.

One of the many benefits of Direct Debit is that payment failure tends to be lower than credit cards. In fact for SmartDebit customers, failed payments typically sit below 0.5%, whereas credit card decline rates can be as high as 15%. That being said, Direct Debit isn’t infallible and when payments do fail it can have a significant impact on your business, disrupting cashflow and tarnishing customer relationships. Here’s how to deal with a failed Direct Debit.

Direct Debits are an excellent way for customers to make recurring payments for goods, services and subscriptions. In this blog post we consider a question we are frequently asked by payers, namely whether a Direct Debit can be set up from any UK banking account or credit card.

There are occasions when as a payer you might need to reverse a Direct Debit payment if it has been taken in error or fraudulently. Alternatively, you may be an organisation collecting payments by Direct Debit, commonly referred to as a service user, and due to human error you face a situation where a payment has been collected incorrectly.

The trade association for financial institutions, Payments UK, has published its annual analysis of the payments market. The report reveals that there were 38.7 billion payments made in the UK during 2016. Of all these, 4.1 billion were made by Direct Debit, worth a total of £1,262 billion.

We are often asked why organisations should select Direct Debit to collect regular payments from their customers, members or donors, in preference to simply issuing recurring credit or debit card transactions. This article looks at why Direct Debit is preferable for consumers.

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Want to compare the best direct debit providers in the UK for 2023? We’ve researched products, features, service and pricing so that business owners like you can make an informed choice on your payment solution.

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Direct debit is a great way to take payments as a business but how do you get started and what should you know? Find out here.

A highly secure system such as Direct Debit has a series of rules you have to abide by as a user. Find out what they are here.

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Recurring payments are a superb option for businesses that are looking to expand. They help the business to collect cash and they make life easier for customers so it really is a “win-win” situation! So, what is a recurring payment and how can it help grow your business? Read on to find out!

For many companies, the key metric they look at is how many new subscribers they are bringing on board but this misses an important point about leaky buckets.The larger the hole, the more water you are going to need to put in to fill it, and if you stop filling then your bucket will empty very quickly indeed.

Direct Debit is a great way for businesses to take regular payments from their customers whether that is a standard monthly subscription or a variable amount. The payment method works well for companies and saves customers time and effort - a great example of a real ‘win-win’ situation! So what are the advantages of Direct debit? Read on and we’ll explain.

You may know that ARUDD (Automated Return of Unpaid Direct Debit) reports provide information on why any Direct Debits are returned unpaid.

ARUDD stands for Automated Return of Unpaid Direct Debit and gives details on why any Direct Debits are returned unpaid. Unpaid Direct Debit Reason Code 1 (or a’F21′), means ‘Instruction Cancelled’. What does this actually mean?

A Service User Number (or SUN) is a unique six-digit number which is given to an organisation or ‘Service User’ to take payments by Direct Debit.

AUDDIS stands for ‘Automated Direct Debit Instruction Service’ and was brought in to help reduce the time, paperwork and effort in setting up Direct Debit Instructions.

Once a donor has decided to cancel their Direct Debit, what can you do to win back these supporters?

Everything you need to know about Indemnity Claims and the Customers Direct Debit Guarantee.