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Is Direct Debit Right for Me?

Direct Debit is right for any company, organisation, charity or sole trader that makes regular collections from their payers. The greatest strength of Direct Debit is the ability to vary the amount being collected and the date of collection.

With FastPay you can do either of these as often as you choose at no extra cost. Furthermore, our reporting facility ensures that you are always “in the know” and you can be proactive when one of your payers fails to maintain their commitment to you. The table on the right provides a few examples of organisations that would gain from Direct Debit, but there are many, many more.

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TYPE OF BUSINESS

COLLECTING WHAT

THE BENEFITS

Communications Service Providers, IT and Web Design

Invoice Billings, Service Charges.

Prompt and reliable payment. Adjust amounts monthly.

Member Organisations, Health Clubs and Golf Clubs

Annual subscription fees, rents, site fees, and service charges.

Automatic renewal reduces member lapse rates and costs. When your fees rise, payments can be adjusted automatically.

Accountants, Bookkeepers and Payroll Providers

Annual Fees, Service Charges.

Spread the cost for your clients and ease cash flow.

Milkmen, Window Cleaners and Newspaper Subscriptions

Regular collections for Products and Services.

Avoid the tedium of going from door to door, and collect monies effortlessly weekly or monthly.

Independent Schools, Nurseries and Crèches

Tuition Fees, Subscription Fees, Hourly Billings, Boarding Fees.

Eliminate late fees, make payments easier for parents.

Nursing Homes, Hospices, and Charitable Organisations

Donations and chargeable fees.

Continuous and predictable cash flow or revenue stream.

Property Management, Estate Agents and Storage Units

Rents (commercial or residential), insurance, maintenance and service charges, ground rents.

Collect on specific dates. Reduce administration time and costs. Adjust payments as necessary.

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