Paper Direct Debit
Paper mandates are ideal if you interact face-to-face with your customers. They can sign up immediately and you have peace of mind knowing you have the authority to start collecting payments.
Some people prefer not to disclose their personal details online, others simply favour the familiarity of a hand-written signature.
And banks prefer a signed paper mandate in case of any disputes over your authority to take payments. It is recommended that you choose the security of paper if your transactions have a higher than average value or if you like knowing that you have a signature from your customer.
But while paper mandates are helpful in person, they can increase costs and delays because:
- You have to post a mandate or the customer has to download and print it
- They have to sign and post the mandate
- They may forget to do this or change their mind about signing up
- You have to manually process and physically store the mandate