Exceeding compliance requirements & meeting industry highest standards
Rightly so, the payment industry is heavily regulated and monitored. Eazy Collect take these obligations very seriously and have always raised the bar when it comes to maintaining the standards that the industry and our clients demand.
Direct Debit Accreditation - BACS Approved Bureau
Eazy Collect has satisfied the highest level of accreditation that can be designated by BACS, the governing body covering direct debit processing within the payment industry.
Conducting business in accordance with the Direct Debit Scheme Rules and the Payment Services Directive (PSD) is at the core of being a BACS Approved Bureau and passing the rigorous inspection process required by BACS.
The bureau inspector commented that "... our facility and setup exceeded that of 95% of the existing Bureau's in the UK (this includes banks, financial institutions and many international blue chip organisations)." Some may conclude that we went overboard with our setup, but in this day and age of data sensitivity, data handling and security we believe it is well worth the investment for the benefit of our clients. Eazy Collect will also shortly become a BACS Affiliate and serve on the panel of this key association body.
Approved FM Provider
We are a Bacs approved Facilities Management (FM) Provider for our direct debit activities.
Authorised Payment Institution
Authorised and regulated by the Financial Conduct Authority - Firm Reference Number: 730815
Listed below are our authorised payment services activities:
Services enabling cash to be placed on a payment account where the payment service provider also carries out all of the operations required for operating a payment account.
Services enabling cash withdrawals from a payment account where the payment service provider also carries out all of the operations required for operating a payment account.
The execution of the following types of payment transaction:
- direct debits, including one-off direct debits;
- payment transactions executed through a payment card or a similar device; and
- credit transfers, including standing orders
Money Laundering Regulations
Eazy Collect is registered as a Money Transmitter under the HMRC Money Laundering Regulations.
Money Laundering Regulations Registration Number: 12853809
Member - BACS Affiliate
BACS Affiliate membership consists of core industry players such as the major bank sponsors, BACS Payment Schemes Limited, VOCA Limited, bank industry associations and key suppliers such as BACS Approved Bureau and Bacstel-IP software providers.
As a member, Eazy Collect is able to participate in decision making that determines the direction and development of the payment industry while being kept abreast of leading edge technologies and BACS compliance requirements. Our membership also allows exclusive access to a range of BACS resources, useful reference materials and templates which we are able to supply to clients enabling them to make the best use of The Direct Debit Scheme.
Member - European Direct Debit Association
The European Direct Debit Association (EDDA) was established in 2005 to promote the views of the payments industry throughout Europe. EDDA provides a platform for its members to share their opinions, debate issues and influence the industry. The association currently boasts more than 17,000 members and expects this figure to exceed 20,000 during the next year. Members include individuals from businesses, banks, clearing and settlement mechanisms and the regulatory bodies that control the industry.
EDDA membership allows Eazy Collect to collaborate with major players and help shape the future of the payment industry through opinions, forums and webinars. Eazy Collect understands the importance of playing an active role within the payment sector to ensure that it's clients are well served and will receive the most up to date information and most recent technology.
Providing the highest levels of customer service to our clients is something that all of the staff here at Eazy Collect do every day. However with the rapid growth in our business, we felt it important to ensure that we have the right procedures in place to maintain those high standards. That's why we took the decision to look at all of our business processes to ensure that they were properly documented and improved wherever necessary.
As part of the process, we also put a "Quality Management Policy" in place which aims to regularly review customer suggestions and feedback in order to continually improve our business procedures and services.
Our work in this area has culminated in certification to the ISO9001:2008 standard; a standard of which we are very proud.
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