Improved compliance and clarification regarding the storage of sensitive customer data, restrictions on use, deletion and full adherence to upcoming General Data Protection Act (GDPA) legislation.
The safeguarding of client funds is a key priority under FCA regulations to ensure customers are treated fairly and that BACS Approved Bureau are protected in the provision of Facility Managed direct debit services.
As Eazy Collect takes risk in the provision of a Service User Number (SUN) to the Company, our bank agreements and FCA compliance has dictated that contractual indemnity risk mitigation policies are strictly adhered to.
Eazy Collect has obligations to monitor DDIC and if excessive DDIC are received in the processing of direct debits for the Company, this may result in reserve funds being retained on client account or the withdrawal of the direct debit facility.
Mutual contractual liability updated in accordance with commercial contract law.
Updated in accordance with commercial contract law.
Updated in accordance with the Modern Slavery Act 2015.
Key Updates to Standard Terms (click tabs below to view details)