{"id":182287,"date":"2025-04-12T22:47:27","date_gmt":"2025-04-12T22:47:27","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/kashflow-guide-to-direct-debits\/"},"modified":"2025-04-12T22:47:27","modified_gmt":"2025-04-12T22:47:27","slug":"kashflow-guide-to-direct-debits","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=182287","title":{"rendered":"KashFlow Guide to Direct Debits"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>We\u2019ve partnered with <a href=\"https:\/\/www.kashflow.com\/payments\/gocardless\/\" target=\"_blank\" rel=\"noopener\">GoCardless<\/a> to help our customers get paid on time by adopting Direct Debits. But is this the right payment collection method for your business?<\/p>\n<p>This blog looks at the advantages of using Direct Debit payments, and some of the background into setting one up.<\/p>\n<p>This means you can pull payments from your customer\u2019s bank account rather than waiting to be paid.<\/p>\n<p>Your customers will give you a mandate, also known as a Direct Debit Instruction. This is an authorisation for you to collect future payments from the customer\u2019s bank account.<\/p>\n<p>This is simple, and the details are standardised for each payment authorisation once you\u2019ve received a mandate.<\/p>\n<ul>\n<li>All future payments are authorised, so you can collect any payment at any time.<\/li>\n<li>That said, you\u2019ll need to notify your customers before each payment is taken.<\/li>\n<li>Each of these payments is protected by the <a href=\"https:\/\/gocardless.com\/direct-debit\/guarantee\/\" target=\"_blank\" rel=\"noopener\">Direct Debit Guarantee<\/a>, which protects your customers from any payments taken in error.<\/li>\n<\/ul>\n<p>With most Direct Debits, the customer will give you a schedule of when payments can come out \u2013 like a subscription or pay date \u2013 when the mandate will be authorised for you to take.<\/p>\n<p>Once you\u2019ve got your mandate, your customers don\u2019t need to do much more. As a vendor, you\u2019ll trigger these payments as and when they\u2019re due. This puts you in charge of your cash flow, and means you can reduce the number of late payments you encounter.<\/p>\n<p>You can also be flexible with your Direct Debit payments, as they can vary in amount and their frequency. This makes them better suited than standing orders, whose payment value is fixed remain the same.<\/p>\n<p>Alternatively, you can automate the payments and reduce admin for both yourself and your customer. This is particularly useful if you\u2019re handling monthly subscriptions or recurring payments, as you can set the same amount of money to transfer from the customer\u2019s account at the same time each month.<\/p>\n<p>There\u2019s no card networks involved in a Direct Debit transaction, which means all the money goes from a customer\u2019s bank and into yours through what\u2019s called the Bacs clearing scheme.<\/p>\n<p>The Bacs clearing scheme is an electronic system that sends payments directly from one bank to another. Direct Debit is one of the main payment types, with the other being Bacs Direct Credit.<\/p>\n<p>This normally takes 3 working days, so take that into consideration when budgeting for upcoming payments. Despite the slight delay, there are a number of advantages, including:<\/p>\n<ul>\n<li>They\u2019re low cost, primarily because they aren\u2019t going through a card network to get to you. The UK\u2019s most popular Direct Debit provider, GoCardless, provide a rate of just 1% per transaction (capped at \u00a32) \u2013 which is peanuts really.<\/li>\n<li>Anyone with a UK bank account (including UK businesses) can pay by Direct Debit \u2013 which can\u2019t be said for credit cards or some other payment methods.<\/li>\n<li>Direct Debit tend to last longer than ongoing card payments. There\u2019s no loss caused by card expiry, which means businesses using Direct Debit tend to experience higher customer retention.<\/li>\n<\/ul>\n<p>Here are some of the ways your business can adopt Direct Debits and start getting paid on time:<\/p>\n<ul>\n<li>If you\u2019re an agency that doesn\u2019t need an instant payment, you can use Direct Debits to set up invoices for your services.<\/li>\n<li>If you\u2019re a wholesaler, you can automate your payment collection from regular customers for a simpler way to get paid.<\/li>\n<li>If you\u2019re a membership organisation or a publication that takes regular payments, then introduce subscriptions for regular payments that don\u2019t require maintenance.<\/li>\n<\/ul>\n<p>As the UK\u2019s leading provider of Direct Debits, GoCardless are the obvious choice for the majority of sole traders and small businesses. But they\u2019ve only become market leader, and held their position, by offering a simple yet effective online interface that makes Direct Debit cheaper and easier to access than ever before.<\/p>\n<p>As a KashFlow customer, you can automatically reconcile your Direct Debit payments with your invoices for less admin and quicker payments. You\u2019ll also access great benefits like:<\/p>\n<ul>\n<li>Automated payments<\/li>\n<li>Real-time notifications<\/li>\n<li>Increased customer loyalty!<\/li>\n<\/ul>\n<p>You can learn more about the <a href=\"https:\/\/www.kashflow.com\/payments\/gocardless\/\" target=\"_blank\" rel=\"noopener\">GoCardless and KashFlow partnership here<\/a>.<\/p>\n<p><a href=\"https:\/\/www.kashflow.com\/payments\/gocardless\/\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1447\" height=\"745\" class=\"alignnone wp-image-81415 cta-image\" src=\"https:\/\/www.kashflow.com\/wp-content\/uploads\/2018\/06\/GoCardless.png\" alt=\"\"\/><\/a><\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>We\u2019ve partnered with GoCardless to help our customers get paid on time by adopting Direct Debits. But is this the right payment collection method for your business? This blog looks at the advantages of using Direct Debit payments, and some of the background into setting one up. This means you can pull payments from your [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[72045,5988,2059,17925],"dealstore":[],"offerexpiration":[],"class_list":["post-182287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-debits","tag-direct","tag-guide","tag-kashflow"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KashFlow Guide to Direct Debits - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=182287\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KashFlow Guide to Direct Debits - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"We\u2019ve partnered with GoCardless to help our customers get paid on time by adopting Direct Debits. 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