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Client paying by direct debit...

  • 16-06-2014 2:00pm
    #1
    JohnCleary
    Registered Users, Registered Users 2 Posts: 10,209 ✭✭✭✭


    I have a client who wishes to pay for a service by way of monthly direct debit.

    Is it just a case of me giving him bank account details, the amount and date of monthly payment and then he brings this into his bank?

    He doesn't do online banking.
    Just need to know if there's anything extra I need to do.

    Cheers


Comments

  • #2
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    Assuming you're a registered business, you'll need to be referring to here for information on SEPA Direct Debits

    If the payment arrangement between you and the client, then you're essentially talking about your client setting up a standing order.

    Hard to give better advice without knowing more about your current relationship


  • #3
    JohnCleary
    Registered Users, Registered Users 2 Posts: 10,209 ✭✭✭✭JohnCleary


    Spocker wrote: »
    Assuming you're a registered business, you'll need to be referring to here for information on SEPA Direct Debits

    If the payment arrangement between you and the client, then you're essentially talking about your client setting up a standing order.

    Hard to give better advice without knowing more about your current relationship

    Sorry, I should have been more clear....

    Yes, it's a registered business. I am providing professional service on 12 month contract. The customer wishes to pay via monthly direct debit as opposed to up-front annual fee.


  • #4
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    Ah, thats clearer. I'll leave it to other posters so, I don't know enough about business banking to offer any more advice


  • #5
    28064212
    Registered Users, Registered Users 2 Posts: 10,902 ✭✭✭✭28064212


    It's not a simple process to accept direct debits. You need to register with your bank as an originator, and there are quite a few steps to go through to do this. Then you would need to prepare a SEPA Direct Debit file every month for submission to your bank.

    Would it not make more sense for the customer to pay you by Credit Transfer? If it's the same amount every month, they can just set up a monthly standing order for the year. If the amount varies, they'd just have to do a transfer every month.

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  • #6
    JohnCleary
    Registered Users, Registered Users 2 Posts: 10,209 ✭✭✭✭JohnCleary


    28064212 wrote: »
    It's not a simple process to accept direct debits. You need to register with your bank as an originator, and there are quite a few steps to go through to do this. Then you would need to prepare a SEPA Direct Debit file every month for submission to your bank.

    Would it not make more sense for the customer to pay you by Credit Transfer? If it's the same amount every month, they can just set up a monthly standing order for the year. If the amount varies, they'd just have to do a transfer every month.

    Didn't realise it was so complicated, thanks for the info.

    Yes, a standing order is the way to go in that case.


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