Direct Debit

Bog Man 1

A payment needs to be made by about 50 customers for products bought and this used to be done by Direct debit from their accounts . This used to be done by a secure Email to the bank from the accounts administrator .
The bank suggested a change to secure software to do this Eg
http://www.sepadirectdebits.ie/
Some initial work was done to research this system but the Bank has now said that they would not be happy to go ahead with this because under SEPA rules the Bank could be stuck for large amounts of money if two or three customers requested the money be put back in their accounts due to some dissatisfaction .
The Company would not have the wherewithal to pay the Bank because suppliers would already have been paid .
Is there a system to get money from customers accounts once they have reviewed their bills every month and lodge it securely to our companys account ?.
The Direct Debit system has been working very well for 20 years and the customers have been happy with no mistakes or errors .

vectorvictor

Bog Man 1 wrote: »

A payment needs to be made by about 50 customers for products bought and this used to be done by Direct debit from their accounts . This used to be done by a secure Email to the bank from the accounts administrator .
The bank suggested a change to secure software to do this Eg
http://www.sepadirectdebits.ie/
Some initial work was done to research this system but the Bank has now said that they would not be happy to go ahead with this because under SEPA rules the Bank could be stuck for large amounts of money if two or three customers requested the money be put back in their accounts due to some dissatisfaction .
The Company would not have the wherewithal to pay the Bank because suppliers would already have been paid .
Is there a system to get money from customers accounts once they have reviewed their bills every month and lodge it securely to our companys account ?.
The Direct Debit system has been working very well for 20 years and the customers have been happy with no mistakes or errors .

If your bank won't give you / is taking back your DD facility (I think that's the question here ?) you could use a third party DD processor such as sentenial

Bog Man 1

vectorvictor wrote: »

If your bank won't give you / is taking back your DD facility (I think that's the question here ?) you could use a third party DD processor such as sentenial

Sentenial would still be a Direct Debit and people could still request their money back from the bank . It has never happened in fifteen years dealing with this bank .
The Bank is backing away from doing it by Direct debit and want each of the fifty customers to do a transfer every month .
This requires fifty actions by fifty people and the accounts administrator to check that those actions have taken place and to contact people if it has not happened .

vectorvictor

Bog Man 1 wrote: »

Sentenial would still be a Direct Debit and people could still request their money back from the bank . It has never happened in fifteen years dealing with this bank .
The Bank is backing away from doing it by Direct debit and want each of the fifty customers to do a transfer every month .
This requires fifty actions by fifty people and the accounts administrator to check that those actions have taken place and to contact people if it has not happened .

Sorry I understand now. If it's the same 50 customers I'd assume there's a level of loyalty there so you may be able to convince them to set up standing orders. Still requires an action by each but only once and you could perhaps incentive this for the first month with a small discount and dress it up as a benefit for the customer

You still require an admin function for bounced dd's so might not be too much extra work.

Other option if the amounts are variable would be a recurring credit card transaction using something like stripe as afaik the charge back risk sits with stripe and not your bank and you can upload a batch file with the amounts each month