No. A Direct Debit Facilities Management Service such as FastPay can sort out all the formalities on your behalf.
No. We will obtain one on your behalf. Please see also next question.
Yes, we will purchase an SUN (Service User Number) from BACS on your behalf and register it to your company. This will ensure that your company name appears on all your BACS reports and on your customers’ bank statements alongside your collections.
On our standard Pay As You Go option, once you have paid your one-off signup fee there are no monthly or annual fees. It is purely pay-as-you-go with individual services being charged for as per our advertised price-list. If you opt for our Flat Rate package, there is no set-up fee and you would just pay £49 per month for up to 100 debits. Please see our Pricing page for further details.
No, there are no hidden costs. We pride ourselves on our clear transparent pricing structure and our full price-list is available as a download from our website.
There is no charge at all for changing the frequency or the value of your collections. In fact, one of the main advantages of Direct Debit is that you have the ability to change the collection dates and amounts whenever you choose.
Our portal gives you access to a comprehensive dashboard containing all your business’ Direct Debit details. To submit your files, you simply log in to the portal and upload when you are ready. You can also access all your latest customer information, submissions and transaction history within a secure environment. Our web portal has been designed to be user friendly and is very easy to use.
Yes. We integrate with various different accounting packages, such as Xero, Sage & Quickbooks. The integration tools will allow you to both submit your invoices without the need to manually input information and reconcile the invoices.
You will also be able to submit exported files from most CRM providers.
Yes. Our API can seamlessly integrate with your billing/CRM software, thus eliminating the need for manual input by you or your staff. You can integrate as much or as little as you like, including adding and amending Direct Debits, reviewing payees and payments, and arranging automatic re-presents. The FastPay API opens up a new world of digital possibilities and will become an invaluable part of your operation.
All monies are forwarded to you as soon as they are cleared. This is generally two working days after the collection. There are various options as to how we pay you and the choice is yours.
We are authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017, registration number 939431, for the provision of payment services. Additionally, we are a Bacs-approved Bureau and an Accredited Facilities Management Provider.
All monies are held in a specially designated client/trust account and your monies are therefore protected by the legislation that governs such accounts.
We will have updated our records and you should do so likewise.
Bacs payment services are operated and managed by Pay.UK Limited, a membership organisation consisting of 16 of the UK's leading banks. It is a non profit organisation that is used by the Banks and other organisations to facilitate the transfer and collection of monies electronically through the banking system. It is run by a membership-based industry body and the entire process is closely regulated.
A BACS file is the method by which you submit your instructions to BACS. There are two types of submission to BACS: One is known as an AUDDIS file, the other is a Collection file. An AUDDIS file (AUDDIS = Automated Direct Debit Instruction Service) is a set of instructions relating to the setting up or cancellation of Direct Debit instructions, whereas a collection file consists of monetary collections. Whilst both types of instructions (AUDDIS & collections) can be submitted together (i.e. in one submission file,) BACS will nevertheless separate those instructions into two separate files.
We provide lifetime support by phone or email completely FREE OF CHARGE. So contact us on 0161 737 5290 or drop us an email at firstname.lastname@example.org with any queries you may have.
With FastPay you can upload your collection files as often or as seldom as you choose depending on your requirements. Some of our clients send us several files per day whilst others send their collection files just once a year!
Similar to the previous question, that is entirely up to you and is restricted only by the frequency with which you plan to upload files to us. It should be noted, that you can combine collections of multiple dates within the same file as long as the dates for each collection are provided within the file.
Yes, if you have opted for our Paperless option you will be able to accept instructions via your website or over the telephone without requiring the payer’s physical signature. You could either use our online Direct Debit sign-up pages which can be branded and customised to your bespoke requirements, or can create your own pages to be used.
You can also always use a paper-based mandate to obtain your customer's authorisation.
The rules of the Direct Debit Scheme require that before making your first collection from any individual customer you must send them an Advance Notice of Direct Debit wherein you will confirm the bank details they have provided you with, the Direct Debit reference you will be using for your collections and the collection arrangement. FastPay will supply you with a template to this letter (and any other letters that you may need too).
Modulus checking (which allows you to validate your customer’s account details) is required by BACS prior to submitting any account details to them. FastPay provides the facility for you to carry out this check.
BACS reports are forwarded to you as soon as they are received. Bounced payments are almost always received the day after collection and other reports will be generated as and when they are actioned by the payer’s bank.
You can recharge them as soon as you choose, with or without informing payers. However, it is considered good practice to contact the payers either by calling or writing to them and inform or agree with them on a new collection date. This helps to ensure that they will have the required funds in their account to prevent yet another bounce.
ARUDD or Automated Returned Unpaid Direct Debit details payers that have not paid. ADDACS or Automated Direct Debit Amendments and Cancellations details payers that have either cancelled their Direct Debit Instruction through their bank or have had their account details amended, for example when moving banks.
It is easy as 1-2-3. You can download our one-page application form from the downloads page on our website and, once completed, fax or email a copy to us. We will respond with a short BACS questionnaire about your business activities and as soon as we have the answer to those question we will commence processing your application.
“We have used FastPay LTD for our direct debit collections since our companies inception over 6 years ago. At all times we have found them to be a proactive, dynamic and professional team who deliver on their word. Their easy to use systems and processes mean that we have rarely had to call on their services except for advice, which has always been both accurate and readily forthcoming When we required urgent help owing to a 3rd party issue, FastPay reacted quickly and pragmatically, going well beyond what we could reasonably expect. Without FastPay, their industry knowledge, contacts, and the amazing team which underpin it, our business would simply not be able to function. I would highly recommend them to any business, and have referred numerous customers and colleagues to them.”
Phil Little – Managing Director – VoIP Phone Systems
“Thanks to everyone at Fastpay for your work this year. Have to say we have zero issues with our direct debits and the system works really well.”
“I know I have been with you a while now and I must say your service is first class.”
Automotive Media Systems Ltd Calas
“I have been working with Fastpay over the last 10 years and I cannot congratulate them enough for the smooth and effective way that they run their company. I’ve had loads of questions in the beginning and they were always able to assist in a friendly and professional way. Thank you for making the process easy for us to follow. Thank you Mark, Julian, Jonathan and everyone else at Fastpay for your excellent service over the years. It is a pleasure to work with you all. ”
Nursery Head Office
“I would like to say how impressed I have been with the way our transactions via FastPay have worked. From the download from our membership database (MyCourts) to uploading the files via your portal the system has been simple to use and is highly intuitive. All communications from your selves have been timely and helpful.”
East Grinstead Tennis Squash and Racketball Club
“Can I just pass on my thanks to you and your team at Fastpay for your help, support and advice for our recent transfer of our Direct Debits to Fastpay. Your team has been brilliant and helped me and my team through any problems we have come across.”
Sheffield United FC
“Lithium Systems Ltd - Fastpay makes my life so much easier and I appreciate your service. All the best to your team for 2021.”
Lithium Systems Ltd
“As a business owner, getting the invoices paid on time, if at all, is one of the most time consuming and unenjoyable tasks I had to undertake. FastPay has taken that pain away for good, yes it is a big learning curve but it is worth the effort. To see the funds arrive in my account at the end of the month without any hassle, phone calls, letter sending...”
Justine, Operations Manager
“I was looking for a direct debit service that was simple to use and provided a secure and flexible payment option for my customers. FastPay customer support has been excellent and their advice is extremely helpful. I wouldn't hesitate to recommend the service. ”