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Direct Debit Service

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  • 10-07-2012 9:31pm
    #1
    chillywilly
    Registered Users Posts: 2,793 ✭✭✭


    Hi,

    We are losing potential customers as we don't have a Direct Debit facility in place which is very frustrating when you are just about to close a sale!

    Can anyone recommend a company that offers a direct debit service which would allow our customers to pay monthly?


Comments

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    #2
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    Any bank should allow direct debits?


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    #3
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    You can also use a standing order. This thread might help http://www.boards.ie/vbulletin/showthread.php?p=64398511

    PayPal and most Credit Card handling serviices offer recurring billing facilities, weekly, monthly, quarterly etc.

    There was another boards.ie thread recently which I can't locate at the moment regarding bank reluctance with direct debits.. Try searching here yourself. I think the issue was you must undertake to repay the bank if the accountholder defaults!

    Hope this helps and good luck

    Peter


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    #4
    geeky
    Registered Users Posts: 2,380 ✭✭✭geeky


    We were told (by BOI) that we needed a substantial turnover (€1m or so IIRC) before they will set up a direct debit facility. Pain in the backside, but you can see why they want to be sure someone isn't shady. Standing order is less secure but the way to do.


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    #5
    chillywilly
    Registered Users Posts: 2,793 ✭✭✭chillywilly


    TheCostumeShop.ie: Ronan wrote: »
    Any bank should allow direct debits?

    The bank has a lot of red tape regarding the setting up of direct debits (originators, us being liable for missed payments etc).

    We were also looking for a company which chases up missed payments and that also allows us to make a commission off of the DD payment.

    We have managed to find what we are looking for with this crowd, but only after changing from partnership to ltd company and providing accounts/projections etc

    http://www.closepf.com


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    #6
    EamonOSullivan
    Registered Users Posts: 101 ✭✭EamonOSullivan


    chillywilly wrote: »
    The bank has a lot of red tape regarding the setting up of direct debits (originators, us being liable for missed payments etc).

    We were also looking for a company which chases up missed payments and that also allows us to make a commission off of the DD payment.

    We have managed to find what we are looking for with this crowd, but only after changing from partnership to ltd company and providing accounts/projections etc

    http://www.closepf.com
    The last time I looed at this, Direct Debit was quite hard to get. The bank put a lot of obstacles in the way, because once you have Direct Debit, it's a licence to deduct money from someone else's account, therefore the bank has to be very sure of your background.

    Standing order is very easy to set up, the only stumbling block is that the customer can cancel at any time.


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    #7
    ICCM
    Closed Accounts Posts: 45 ✭ICCM


    EamonOSullivan wrote: »
    Standing order is very easy to set up, the only stumbling block is that the customer can cancel at any time.


    Direct debits can also be cancelled by the customer at any time so there is no real difference there, the main problem would be if your prices change regularly, you would need the customer to go to their bank branch to update the standing order each time whereas with a direct debit you would be able to adjust the fee on your end


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    #8
    Herbalist
    Registered Users Posts: 149 ✭✭Herbalist


    That's correct there is nothing to stop a customer cancelling a Direct Debit at their end at any time.

    If you are offering ongoing services/products for customers on a regular DD or allowing someone to pay by DD over time for one sale it would be important both to set out terms and conditions and also to track the outcome of direct debits so you can ensure you are being paid and can follow up if you are not.


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