When you use Direct Debits to collect regular payments, it isn’t just your business that derives a benefit – your customers do too.
They have the security of knowing that their payments to you will be made on time, automatically without them doing anything. Eazipay’s Direct Debit processes are totally reliable and safe. No more invoices to search for. Much less administration. No more lost cheque books. No more embarrassment for you and your customer when you have to repeatedly chase for payment.
Also, costs for goods and services can be spread over a number of months – which helps your customers’ cash flow.
Once the Direct Debit has been set up, your customer can virtually forget about them. What’s more, any changes like alterations to the rate of VAT can be accommodated quickly and easily.
One of the major benefits of Direct Debits is that for most of us, they are a very familiar way of paying for goods and services and are extremely easy to set up for you and your customers. They are also very easy to amend, or even cancel.
Once the Direct Debit has been set up, that’s it. There is nothing else to do. The money you are owed will now be collected on time, in full on the day that you want it. If the amount needs to be amended, that’s simple too. And admin time together with invoice chasing time is dramatically reduced. So not only is your cash flow improved but you are saving money because of increased efficiencies.
By spreading costs over a twelve month period, you are making it much easier for customers to do business with you, rather than the inconvenience and pressure of having to find a single lump sum. You may even want to incentivise your customers by giving them a small discount if they sign up to paying by Direct Debit. Once the Direct Debit is set up, your customers can pretty much forget about them.
Creating Direct Debits to collect payments is not only good for your business; it is also good for your customers. You have the benefit of a guaranteed cash flow and, so long as your customers have the resources in their bank accounts at the time the Direct Debit is called for, we will collect it for you.
For your customers, Direct Debit helps them to budget each month. There are no hidden surprises. Direct Debit is regular and reliable.
We know that we achieve high levels of client satisfaction, year in, year out, because we ask them. Asking our customers for regular feedback is how we grow and develop. So when we say that our Direct Debit collection service will help your business, we know it will because our existing clients tell us so.
Naturally, with so much power in the hands of the merchant, the customer needs to be protected, and this comes in the form of the Direct Debit Guarantee.
This Guarantee protects customers in the event of the wrong amount being taken, whether in error or fraudulently. In these instances, the customer is entitled to a full and immediate refund from their bank.
The Guarantee also entitles customers to be informed of any changes to their Direct Debit, before they come into force, and allows them to cancel the Direct Debit at any time.
All of these protections are enforced by the banks and refunds and cancellations happen without any discussion with the merchant.