AccessPay

Direct Debit Management Solution

Direct Debit Management Solution

What is a Direct Debit?

A Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying amounts from their account. Direct Debits are the simplest and most convenient way for customers to pay regular and occasional bills.

The first Direct Debit in the UK was presented way back in 1970, and was processed by Bacs

About Bacs
Bacs is the company responsible for the clearing and settlement of Direct Debits (and Direct Credits) in the UK. Bacs was created in 1968, and has been maintaining the integrity of payment related services ever since. Since its inception, more than 96 billion transactions have been debited or credited to British bank accounts via Bacs.

Direct Debit Management Solution

Direct Debits - statistics

Some impressive Direct Debit statistics:

80% of the UK population have at least one Direct Debit. Over 3.4 billion Direct Debit payments processed each year.

40% increase in Direct Debit payments over the last 10 years. 67% of household bills are paid by Direct Debit.

The average UK household has 8 Direct Debits.

Direct Debit Management Solution

Direct Debits for customers

Direct Debits popular with customers

Control - Customers can take control of their bills and spread the costs to suit them.
Time Saving No more writing and posting cheques - or traipsing to the bank. Money Saving Many businesses offer discounts for Direct Debits Automation Everythings taken care of. No dates to remember, no more forgotten payments. Safety The Direct Debit Guarantee provides customers with security and protection.

Direct Debit Management Solution

The Direct Debit Guarantee

Relax its all covered by The Direct Debit Guarantee! The Direct Debit Guarantee protects customers if there is an error in the payment of their Direct Debit.

The Direct Debit Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits.
If there are any changes to the amount, date or frequency of a Direct Debit, the organisation will notify the customer well in advance of their account being debited.

If an error is made in the payment of a Direct Debit, by the organisation or the bank or building society, customers are entitled to a full and immediate refund.
If you receive a refund you are not entitled to, you must pay it back when asked. Customers can cancel a Direct Debit at any time by simply contacting your bank or building society.

Direct Debit Management Solution

Direct Debits for Businesses

Direct Debits good for business, batter for customer
two-thirds of SMEs view Direct Debit as the preferred way of collecting money and the best way to ensure that funds arrive on time. Mike Hutchison, Bacs.

Here are some of the benefits that automated Direct Debits can offer businesses:
Improved Cash Flow Direct Debits boost cash flow by providing businesses with visibility of regular income, thereby improving their forecasting and planning abilities. Customer Retention Direct Debits increase customer retention due to their reliability, ease of use and security guarantees. Flexibility Direct Debits give businesses the option of collecting variable amounts on different days. Freed Resources The automation that good Direct Debit management software provides enables businesses to concentrate their time and resources on revenue-generating projects. Greater Control An agreement to collect amounts over fixed periods can result in decreased credit control measures.

Direct Debit Management Solution

AccessPay Direct Debit Management Process

Our Direct Debit Management solution is file and channel agnostic. We can pick any file, in any format and from any system.
When our Direct Debit Management solution picks a file, it performs validation on it to ensure the data and structure complies with the latest Bacs rules. Our solution then checks whether approval is required before submitting the file to Bacs. Reports are then pulled from Bacs automatically and carefully analysed. These include full A series reports amongst many others. The solution then checks whether any payments need to be represented. This is done using the workflow and timeline of representation configured on the system by the system administrator. The data is then downloaded and can be sent to your back office for reconciliation. Our solution includes a comprehensive Letters Management feature, where letters can be sent to customers notifying them of important issues around Direct Debit collections, such as missed payments.

Direct Debit Management Solution

AccessPay Direct Debit Solution Features

Improve your cash flow and control with our feature-packed Direct Debit Management Solution
Whatever your size of business, good Direct Debit Management reaps rewards. Data Pre-Validator - With Validator API, double check customer data. Avoid delays and bank charges. Scheme Rules Compliance - System generated letters to ensure you are always compliant with direct debit scheme rules. Signatory Database - Maintain list of payment approvers. Direct Debit Manager - Create new direct debits with your bank, cancel instructions, amend payments or alter dates. Reporting & Dashboarding - Use graphical reports to spot problems and opportunities. Take advantage of automated reporting. Roles & Permissions - Set roles and permissions for all your users instantly. Mandate Manager - Manage and store direct debit agreements safely and securely.

Direct Debit Management Solution

Task Pane - Get notifications on when there is a task waiting for you. Alerts & Notifications - Be in control, with Instant alerts and notifications.

Change Manager - Cancel or amend instructions and quickly resolve queries or disputes.*
Reconciliation Module - Reconcile all your bank statements / transactions with your financial solutions. Mobile Access - Secure anywhere, everywhere access for total control on the move. Recurring Payments Manager - Receive cash on time, every time. Seamless Integration - Our Bank and File agnostic solution integrates with any file type or bank. Workflows & Approval - Maintain list of payment approvers. Customer Notifications Manager - Manage AuDDIS codes, returns, reversals or cancellations for any direct debit and automatically create customer letters. Letters Management - Letters are raised automatically to inform customers of discrepancies. Payment Schedule - Full flexibility to schedule different payment amounts on different dates. Representation - Repeat representations are made when the original Direct Debit instruction fails.

Direct Debit Management Solution

AccessPay Direct Debit Management Solution Benefits

Key Benefits of the AccessPay Direct Debit Management Solution:
Set up, automate and manage all Direct Debit transactions. Easily create and administer payment lists for customers, subscribers or suppliers. Automatically validate bank account numbers and sort codes. Manage Direct Debit instructions, including submission of payment files to Bacs. Securely manage transaction authorisations and payment approval workflows.

Ensure your letters, transactions and processes comply with the Direct Debit scheme rules.
Reconcile Bacs reports that advise of unpaid items, amended details and cancelled Direct Debit instructions.

Any Questions?
AccessPay CEC Winchester - Crawford Place, 259-269 Old Marylebone Rd, London NW1 5RA Tel: +44 (0) 203 282 7152 Email: info@accesspay.com Website: www.accesspay.com