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Sep 12
2011
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If you're a business that collects regular payments from your customers, then you could be missing a trick if you're not using direct debits to collect payments.
A few stats below may give you some comfort:
- 87% of Direct Debit users cite that it is a convenient way to pay bills
- 79% believe that Direct Debit is a hassle-free payment method
- 82% of Direct Debit users believe they save you time
- 84% believe that Direct Debit is a safe and reliable way to make bills
- 73% of Direct Debit users say that they can help to make your life easier
- 65% believe that using Direct Debit saves them money
Data Source: Bacs Family Finance Tracker 2010 (January-June)
So it may not be as difficult as you think to migrate customer payments over to direct debit. A few propositions could be for example:
- Promoting a choice of payment dates to coincide as much as possible when your customer has available funds in their account
- Promoting more frequent Direct Debit collections e.g.weekly or fortnightly, to fit in with the budget cycle for those paid more regularly
- Offering appropriate advance notice for the collection frequency, and generally offering as much notice as possible and in as visible a manner as possible
- Offering additional or irregular Direct Debit collections if appropriate for the product/service being offered
And, most importantly, there are a whole host of benefits for your business too:
- Average 98% Payment Success Rate
- Consistently Get Paid On Time
- Amend your pricing without the need for additional paperwork
- Minimal Administration with a user-friendly, web-based interface
- Set payments up either face to face, over the phone, or via the web
Eazy Collect is a BACS Approved Bureau who can help you get the most from direct debit processing.
