If your business has a significant turnover and a long trading history, you would normally be able to apply for your own Service User Number which would be sponsored by your bank. You can then choose between handling your own Direct Debit collections and Direct Credits (Bacs payments) in house, or outsourcing them to a Commercial Bacs Bureau such as FastPay.
FastPay Bureau Service Is Hidden From Your Customers
While using your bank to handle your processing can be costly, a commercial bureau service will normally work out considerably more economical than handling the processing on your own. Furthermore, with the FastPay Bureau Service the collected funds will pass directly from your customers’ accounts into yours, with FastPay remaining completely invisible to your customers. They will see only your name on their bank statements and Direct Debit mandate.
Our Bureau rates are even cheaper than our already competitive Managed Service rates from just 3p per collection! There are no minimum monthly or annual fees for our services and you will not be tied into a long-term contract of any kind. Find out more about our Bureau Service
The FastPay Commercial Bureau Service will save you the initial outlay on expensive Bacs software and the often overlooked on-going support, licensing and upgrade fees. You will also avoid having to pay staff who are dedicated to the complex task of managing your Bacs processing and who would have to undergo regular Bacs training to ensure that they are up to date with all the latest legislation.
FastPay can offer you a cost effective solution providing you with complete peace of mind to pursue your other business activities.