Concept Vehicle Leasing are a multi-award winning vehicle leasing and fleet management provider, based in Surrey and operating on a UK Nationwide basis. We provide our services to a diverse portfolio of clients ranging from large corporate customers. Small and medium size businesses and also consumers. Some of our services require regular monthly or frequent billing, such as our business daily car and van rental service, and our fixed cost vehicle maintenance provision. We’re pleased to provide service to hundreds of satisfied customers, for whom we provide a single monthly consolidated invoice.
It’s absolutely vital that we’re able to collect payment from our customers on time each and every month in order to manage our credit risk exposure and to ensure we can provide service continuity to our clients with minimal hassle.
Direct Debit enables us to collect payment of our regular and monthly invoices quickly, securely and without any time or effort on behalf of our client. This robust collection method enables us to effectively manage customer credit and keeps the time and effort involved in payment collection to a minimum, enabling us to provide the best possible pricing to our customers.
We found the implementation process for enabling Direct Debit collections with FastPay to be very simple and hassle free. FastPay have streamline procedures in place to ensure the implementation process is smooth, and the knowledgeable and professional team at FastPay meant that the whole process was practically effortless. We had originally investigated establishing the facility to collect Direct Debits through our bank, but found that FastPay’s process was much less onerous and meant that we could be up and running with Direct Debit collection more efficiently.
Concept Vehicle Leasing have found that using Direct Debit is a perfect solution if your business needs to collect regular small amounts from customers with minimal fuss and inconvenience. We honestly couldn’t collect our customer payments in any other way – it would be simply too time consuming and would tie up valuable resources which can otherwise be focussed on growing our business. We would not hesitate to recommend Direct Debit and collection using FastPay to our friends and business associates.
As a telecoms provider it is essential to have a Direct Debiting facility to be able to invoice multiple customers varying sums on a monthly basis. Without it, chasing payment would involve costly resource and negatively impact on our cash flow. Having never required this facility before, when I set up the bank account for UK Telecom Solutions in January of 2012, I wrongly assumed the bank would provide it. However when I met with the bank manager he explained the risks involved and that banks never offer this facility to new businesses.
I contacted FastPay on the recommendation of one of our suppliers. I was expecting a painful, complicated process, but was very pleased to be proved wrong!
The set up was fast and the process was very straightforward. They provided me with simple to follow instructions that covered everything I needed to know. I send over one spread sheet each month with the information they require and the rest happens like clockwork. In the two years I have used FastPay they have never made a mistake and all charges have been exactly as they promised.
FastPay has enabled UK Telecom Solutions to offer a professional Direct Debiting service to our customers. Their attention to detail and professionalism has helped us concentrate on our core business and build a successful company.
I regularly hear other business owners talking about the problems they are having as a result of people not paying on time and I never hesitate in recommending FastPay as the way to eliminate these issues.
Wigan St Patricks Amateur Rugby League Club has over 20 teams making up the player base of its club from Under 7’s to Open Age, the traditional method of collecting membership fees was by using our Team Managers, a volunteer who forms the link between the coaches and players and the Management Committee. Despite the best efforts of our fabulous volunteers we realised that not everyone was paying membership fees resulting in a loss of important revenue and it was complicated for the Team Managers to manage.
To alleviate the situation, ensure regular cash flow and also in response to our members requests for a pay monthly Direct Debit scheme, we began to look at what easy to implement and manage systems were out there.
In effect FastPay ticked all the boxes, they were more than helpful in the beginning and were on hand every step of the way to assist us with the process of getting members signed up to the scheme.
It has certainly helped us as an amateur sports club in ensuring that our membership income is paid and its really easy to follow up should a payment fail! All I need to do is pick up the phone and they are ready to help.
With more than 100 of our members now using the scheme and more signing up each month! we would recommend it to anyone in the world of amateur sport, with the submission of a monthly spreadsheet, my work is done!! Additional payees are really easy to set up too!!
FastPay are highly recommended by Wigan St Patricks ARLFC as a Direct Debit provider.
Prior to FastPay our customers paid us when they remembered or wanted to. We spent an inordinate amount of time sending reminders, and watching our bank account. Some would pay immediately but it soon became clear that there were some late payers and some never payers, some paid by internet, some by cheque in the post. It was impossible to plan or budget as we really never knew what monies were available to us. We knew we needed direct debit and we approached our bank but we were too new and too small. And yet we needed the stability. We found FastPay through Google and we have never looked back.
Our existing clients were happy to change to direct debit, some of them asked why we hadn’t done it before! All our new customers are signed up to direct debit automatically.
I can’t believe how much it transformed my working day. I rarely need to chase payments now. I know what date monies will enter our account, and I can budget effectively. I can spend my time and energies more effectively too, keeping customers and staff happy.
I can’t imagine how we would manage any other way, I strongly recommend FastPay, you know when you will get paid and how much, it just takes away all the stress.
We decided to explore the feasibility of offering a Direct Debit facility for our members due to the tough economic times and our support of those businesses who invest in our support. The ability to spread costs for our members is important and therefore Direct Debit seemed like a sensible solution. Unfortunately the service offered by our bank was complicated to implement, costly and confusing. Subsequently we carefully researched alternatives within the market and came across FastPay.
We found FastPay to be a far better solution for our business and the members we serve. A cost efficient solution allowing our members to spread the cost of membership, the sign-up process was simple and very straight forward.
The administrative process required to collect Direct Debits is incredibly easy and FastPay’s reporting and processing has always been seamless and efficient.
Offering a Direct Debit facility to our members has proven to be an important ingredient to our success and one we will continue. FastPay have never let us down and therefore we would have absolutely no hesitation in recommending them to potential clients.
Mardon have been in the business for nearly 10 years and started as a small family business. We found that many of our customers needed our recycling equipment to progress their business but were unable to afford an outright purchase, so we decided to rent them out on a monthly basis.
As time went by, our customer base grew and the company evolved, payments became increasingly difficult to track down and keep up to date, and it became apparent that we would need a separate rental company. After discussions we also decided that payment by direct debit would form part of our terms and conditions, as we wanted to overcome the increasing customer debt, and reduce time spend chasing for payment.
We found our own bank most unhelpful, but then we discovered fastpay. Fast Pay helped and advised us every step of the way, and even supplied direct debit mandates with our company logo. The charges were very reasonable, and the procedures fairly straight forward the staff were very helpful and responded very quickly when I was uncertain of anything at the outset. In fact, we were so delighted with the straight forward service that we decided to use the service for our original company, and so set up two fastpay accounts.
We have never looked back and feel strongly that our decision to offer payment by direct debit was the right one, a good 90% of our rental invoices are paid regularly and within the 30 days credit limit, and new customers with no trading history even pay monthly in advance. We are very pleased to be associated with FastPay, and look forward to a long and successful association with them.
I would not hesitate to recommend FastPay to service payments by direct debit from your customers
Well Done Guys!!
Every month our aged debtors sheet looked disastrous. All wonderful clients, we enjoyed working with them, they enjoyed working with us, but when it came to paying, it was seriously threatening to rock the boat. The reasons for late payment were fantastic, we have heard them all, but as we were working with sole traders, mostly it was down to forgetfulness or a holiday looming on their part.
As they were such small organisations, we also felt their behaviour was hindering THEIR cash flow as much as ours and therefore we had to find an alternative route for payments.
The cost for managing Direct Debit ourselves was not practical and then we Googled on Fast Pay. The support from Todros and Henry has been first class.
After one year, we have the process down to a fine art. Very little communication is required with Fast Pay; I send a file, they confirm the details, they collect the money, they pay us and naturally they send us a small invoice paid by direct debit of course. This invoice is considerably less than the amount of time we were spending on chasing money.
The key advantage however is that is enables us to deal with our clients about the work we do rather than discussing money and this massively improves the business relationship.
I own a small to medium size Waste Management Business and with cash flow being of upmost importance decided to offer my clients the opportunity to pay by Direct Debit allowing seamless hassle free invoice payments for my clients and more importantly the peace of mind for me knowing when money is coming in, it allows me to honour wage bills and other costs at specific times of the month to ensure that my business operates correctly and reduces my cash flow risk.
Choosing Fast Pay has proven to be a fantastic decision and although I was initially worried about how to set this up Fast Pay make everything clear and are always at hand to guide you through the process.
I send my submissions through twice a month in the form of 2 spreadsheets, these take me no longer than 10 minutes to create and send.. Mainly a copy and paste exercise together with a few figure changes, it really is as simple as that.
Their response times are great.
I now strongly recommend that all of my new clients pay by Direct Debit, you can’t beat guaranteed payments and for the money Fast Pay charge its worth every penny for my business.
Finally I would have no hesitation in recommending Fast Pay to anyone who’s thinking of using them.
Before we introduced a Direct Debit scheme to our recurring service customers, customers were paying by Standing Order, BACS, cheque or online bank transfer. Very often we would have to chase payment for small invoices which was both costly and time consuming. We wanted to automate our recurring income, choose our payment dates and generally make the procedure easier for both our customers and our business. FastPay has helped us to move towards this.
We found FastPay easy to set up, we had plenty of guidance from their staff and once put in place, straightforward to follow as and when submissions need to be processed or new customers need to be added.
FastPay has proved to be the solution we hoped for and we would definitely recommend it to other businesses such as ours.
We decided to try to improve cash flow and remove as much of the administration work as possible from our accounts department as it was becoming quite tiresome for them chasing up invoices that hadn’t been paid on time. FastPay was very easy to set up and met very little resistance from our existing client base.
Engaging FastPay has provided 3 distinct benefits:
- Less time spent chasing invoices for payment
- Improved cash flow
- We have also found a new client’s lack of willingness to go onto direct debit a fairly reliable indicator of lack of cash flow or credit worthiness
Many of those that refuse to go onto direct debit often fail to pay on time manually and a high percentage, compared to those happy to go onto direct debit, end up being terminated and debt collected for non-payment.
I would recommend FastPay as an excellent service to boost cash flow, cut down on admin and streamline the collection of client revenues.
Having worked for a supplier previously in our industry sector I knew that we needed to make collections via Direct Debit a priority as chasing clients for small and constantly variable invoice values or in some cases large values would have made running our organisation a great deal more difficult. Direct Debit allows us the freedom to use FastPay as almost our ‘Credit Control’ Department in the sense that they collect the money in our name on our behalf. The very few that run in to problems are then very quickly highlighted and we can deal with a small number, but without the facility provided by FastPay we’d have to chase many invoices which would mean we can’t get on with building future sales which is the only way our business will grow.
Because our invoices can be monthly or quarterly and of varying amounts on each occasion plus the need for annual increases in charges it was clear that the restrictions on other methods like Standing Orders
Standing Orders (which you rely on a client to implement) made those alternatives a non-starter. With FastPay we have the control.
The fact that we raise invoices to our clients and simply add them to a very simple spread sheet that we send on to FastPay and the money appears in our account a few days later is an absolute joy and a damn site cheaper than using factoring companies or employing an internal credit controller. For the few that refuse to join the Direct Debit scheme we’d have to say are a real pain as we end up chasing debt that is many months old! The constant waiting for a cheque to appear through the letterbox day after day means we’re simply not controlling our cash flow effectively. No such problems with the FastPay Direct Debit collections!
Having used them for some considerable time now, we just couldn’t or wouldn’t want to live without their very simple and highly effective collection system.
The many hours, days and weeks their collection service has saved us has come for a very small price. We have and will continue to recommend this service to any organisation that needs to collect money from their clients. It only remains for us to add what a great job they do on our behalf – Thank You.
Having never set up a business before, we were quite overwhelmed by what was involved when we set up our outdoor fitness business over 3 years ago. With so many rules and regulations there was so much to learn. But what was fundamental to our business was providing a service and collecting our clients’ payments for the services we provided. If we could get those two things right, we hoped that everything else would fall into place. Due to the nature of our business, the easiest way for our clients to pay is by monthly direct debit. As our company was not large enough to collect our own direct debits we knew we needed to find a company to assist us. I was very apprehensive about this and went about my research. I came across FASTPAY via a google search and contacted them, as well as one or two other companies. What drew me to FastPay was their efficient responses to all my questions and their simple, easy to understand collection service. For someone like me understanding the process was essential. They passed this element of my selection process with flying colours due to the excellent literature they provided and their user-friendly website. But the deciding factor for me in selecting them was their extremely quick and helpful responses to all my questions (and there were, and have been, quite a few!). Anyone in business knows that you can’t afford to wait 2 or 3 days for an answer. I find that their door is always open and if I need another copy of something or can’t find a report they’ve sent, they send it over again without hesitation.
I am delighted to say we have now been working with FASTPAY for over 3 years and their service is quite simply impeccable.
They are friendly, efficient and always respond in the quickest time. They take time to explain their procedures and provide you with useful tools to assist you such as submission calendars letting you know when you need to submit files and when their offices are closed etc. I have also found them extremely supportive in understanding the nature of our business and being extremely fair when increasing fees due to growth within our business.
We submit nearly 500 direct debits every month and continually make changes to those collections by removing payers and submitting new payers. In all the time we have worked with FASTPAY there has never been a mistake on their part and this means the service we in turn provide to our clients is the very best it can be.
I would not hesitate to recommend FASTPAY to anyone. Their customer service is faultless as is the financial service they provide. If only everyone we dealt with was as efficient as FASTPAY.
We are a children’s nursery in Devon, and before we had direct debit we took cash and cheques. This we found a bind, as cheques sometimes do not get honoured and handling cash has its own drawbacks. Our insurance, for instance, would only allow us to carry so much cash on site, which meant I had to do the banking every week. We looked at a number of payment options, and this included bank transfers, card payments and PayPal. But after a lot of deliberation we decided to go for Direct Debits.
Now that we had decided to go for Direct Debits, we had to decide how and what would be the costs involved. We looked at various companies, but decided to go to FastPay, and we are glad we did.
FastPay from the start were friendly and obliging, even when I kept emailing them with questions. Nothing was too much trouble for them.
We set up the Direct Debits mandate with FastPay, which didn’t take long at all. We received literature that we could adapt and print off, which told parents what Direct Debits was all about and the benefits it has.
We have now got about 30% of our clients on Direct Debit, and every month I send FastPay my submission, and I have the security of knowing that those 30% have paid. The money is deposited into my bank account within 14 days, and we always get an invoice that tells us how much the cost is that month. It wasn’t easy to transfer our customers over to Direct Debit, but over time as new customers arrive they tend to sign up straightaway. I would recommend FastPay to all small and medium sized businesses that would like to do Direct Debits. It’s easy, and it’s quick, without the hassle of setting up your own Direct Debit system with a bank. As with all bank transitions there is a cost, but this is a minor cost if it benefits your business and your cash flow.
Here at IP Phone Solutions we decided years ago that we needed to start taking direct debits as we needed control of payments from our customers. We used to take payment via standing orders and credit cards, however using these methods often proved difficult as could not see who had not paid by these methods quickly and no reports are given on them either. So we decided we had to start collecting money by direct debit from our customers.
Then we found FastPay and they offered the best and clearest deal from all of the direct debit houses we had checked, so we selected them as our provider of direct debits.
It was such a breeze to implement direct debits into our business, bearing in mind this was a new service and we had zero idea how to implement it or what the various formats and codes meant.
The team at FastPay made everything so simple and easy for us to understand and implement this product; direct debit has become a key service in our business.
We have been using direct debit collection in our business for some time now and it has proved to be the best solution we could have hoped for and we could not operate our business without it, in fact we don’t how IP Phone Solutions ever survived without it.
Using direct debit has improved our business by 300%, we are now in control of all our customers’ payments and we always recommend our customers who need to improve the way they collect money from their customers to FastPay.
FastPay are not just fast, they are easy to work with, never get anything wrong and are simple to communicate with.
We run an IT Support business and historically had relied on Standing orders. These were a pain as when the amount changed (or the VAT rate changed) we had to get them to submit new SO forms to their own banks, which of course never happened. We had been trying for many years to set up a Direct Debit Service, so that we were in control – we were told that we had to be a very large organisation before they would even look at us.
I spent some time doing research about originators etc and found FastPay.
They are extremely helpful and helped us set up the service a number of years ago. Their staff and documentation has been very helpful at every step of the way
We were up and running very quickly and the system is now really smooth
Since using FastPay our cashflow has improved immensely and we have to spend far less time on credit control. I would STRONGLY recommend them and their service
Median Accountancy & Taxation Services Limited found Direct Debit gave them a permanent positive cash flow. About three years ago I decided to re-brand my business and as part of this process I decided I wanted to correct all of the small niggles that I had put up with for the previous nine years I had been a freelance accountant. One of the biggest issues for me as a sole-practitioner was the fact that I was always owed somewhere between £5 – £10,000 in invoicing which is quite a large sum of money.
I was always owed somewhere between £5 – £10,000 in invoicing which is quite a large sum of money.
My wife was always saying ‘you’re really busy but never have any money’ … I think she suspected I was supporting a mistress somewhere! The obvious answer was to collect my fees on a monthly basis. I had looked in to this a few years earlier but standing orders were very cumbersome (and too dependent on the client to complete paperwork!) and a licence to operate a direct debit scheme was far too costly. This time around I put the question out on Accountingweb and the solution came back that I could use a third party to operate the direct debit on my behalf. This sounded ideal and one of the first names I came across was FastPay.
When I approached FastPay they responded quickly with quotes and as has been born out over the years, they seemed very professional from the start. I was particularly attracted to the fixed fee pricing based on a standard number of collections each month. It transpired that my 90 collections is a very efficient number as the standard pricing is based on 100 collections!
The set up process and communication to clients is time consuming and for the first couple of months you do wonder whether it is going to be worth the effort. However, within three months I had about 90% of my clients signed up and was collecting a similar % of my fees up each month. Most clients saw the new facility as a benefit as it enabled them to budget better for my fees. For me, suddenly I had money in the bank and my wife stopped checking my mobile phone!
Three years on and without doubt this was the best single thing I have ever done with my business.
Three years on and without doubt this was the best single thing I have ever done with my business. If that seems over-dramatic then perhaps you aren’t as attached to having permanently positive cash-flow as I am. The facility with FastPay has worked faultlessly from day one. I get early warning if a client changes their direct debit or bank account and the submission takes me about 5 minutes each month to send across via email. It has also reduced my administration significantly. Previously to increase fees for each client each year was a huge task but now I just notify them of the ‘tiny’ increase in the monthly DD and let FastPay do the rest. I am always bemused that many accountants still don’t operate this way …. the cost really is insignificant compared to the huge benefit and we are supposed to know a bit about business!