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:
“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. ”