There are two ways of getting your customers to sign up to pay you by Direct Debit: filling in a paper mandate or completing a paperless application online or over the phone.
Both do the job and both have benefits. Consider your customer and choose the best fit for your company.
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:
Paperless is perfect for our 24/7 digital economy. If you have point of sale access to the internet, you can welcome new customers instantly over the phone or through your website.
Many customers want and expect the instant convenience of signing up now and ticking it off their to-do list: Paperless Direct Debit makes this happen.
Going paperless can bring these benefits to your business:
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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
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East Grinstead Tennis Squash and Racketball Club
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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
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