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*Home > Small Business > Managing Your Day-to-Day Banking > Making and Receiving Payments > Collecting payments in UK > Collecting Direct Payments
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* Collecting Direct Payments * *
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Small Business

Collecting Direct Payments

Direct Debiting using BACS

A Fast, Efficient and Accurate Means of Collecting Payments

Direct Debiting

  • Greater control over the timing of funds credited to your organisation’s accounts
  • Saves you time and money in sending reminders as payments are automatic
  • Computerised record-keeping provides the means to monitor and control payments efficiently
  • Increase accounting efficiency as you will be able to identify unpaid payments quickly

Enables you to:

  • Collect payments direct from your customers’ bank accounts
  • Collect payments agreed between you and the payer at regular or irregular intervals
  • Submit Direct Debits from your organisation’s PC to BACS via a telecommunications link
  • Fix amounts for a specific period or vary the amount for each payment
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