Improve CashflowSet convenient collection dates so you always know when to expect payments
Less Admin TimeSave time chasing unpaid invoices and reconciling your accounts
Improve Customer ServiceMake their payments more convenient, flexible and secure
The FastPay Managed Service Makes It Easy
Our personal, affordable service is the simple solution to managing your Direct Debit collections. No need to set up your own expensive scheme, no need to get approval from your bank.
Let FastPay make it easy while you focus on developing your business instead of wasting precious time and resources chasing money.
FastPay will get you up and running within just 24 hours: we are quick.
FastPay will assign you a fully-branded Service User Number (SUN) so your company name will appear on all bank statements: we are personal.
FastPay will charge you a flat fee per collection: we are affordable
FastPay will process all payments on your preferred date: we are flexible.
FastPay will inform you of any bounced or cancelled Direct Debits as soon as they occur: we are informative.
FastPay will immediately transfer cleared funds to your account: we are efficient.
FastPay will provide branded paper mandates or help set up an online scheme for your customers: we are adaptable.
Who’s It For?
The FastPay Managed Service is perfect for sole traders, SMEs, charities, limited companies, partnerships and all organisations who regularly collect payments from customers.
The convenience of outsourcing this time-consuming job will give you peace of mind that all recurring fees, service charges, rents or donations are being taken care of.
If you’re a milkman, you won’t need to spend time knocking on doors asking for cash
If you’re a golf club manager, you won’t need to spend time reminding members to pay their fees.
If you’re an estate agent, you won’t need to spend time chasing unpaid rent.
We do it all so you don’t have to.
How Does It Work? Seven Simple Steps
- We provide you with a personalised SUN number
- Your customer completes a Direct Debit instruction form online, over the phone or on a paper mandate
- You send us their account details, the amounts you wish to debit from your customers and the nominated collection date
- We prepare and submit those details to Bacs for collection and your customer’s account will be debited
- The amount will be credited to a Client Trust Account we hold in your name
- We pay the money into your bank account once the funds have cleared
- You check your account and are reassured that payments have been made successfully
The FastPay Managed Service Includes:
- All the necessary templates and documents to run your scheme including a personalised Direct Debit Mandate in both paper and online form
- Fully integrated, professionally-designed and Bacs-approved paperless sign-up pages if you want to accept Direct Debit instructions online
- Guidance notes and a Bacs-approved script if you prefer to take instructions over the phone
- Cutting edge, market-leading software that is always up-to-date with changes to Bacs or banking legislation
- Up-to-date information regarding any bounced or cancelled Direct Debits in either pdf, csv or xml format
- The option to link your software with ours, using our advanced API or other integrations
- Friendly and knowledgeable staff always on hand with free lifetime email and phone support
- Full database management with reports available on your collections history using your online account or API
- Professionally-written Bacs-approved letters on your company letterhead to customers with any Direct Debit or Direct Credit issues
10-50p per transaction
Price per transaction is based on volume
No monthly/annual fees
Free amount and collection date amendments
No minimum contract period