subject: Not For Profit Organisations- Get Acquainted With Direct Debit [print this page] Collecting recurring payments can be a time consuming process and sometimes expensive too because of the standing orders, and the pending and expensive credit card payments. With Direct Debit these recurring or occasional payments can be much easier and on time than doing it manually. In this process all you need to do is register yourself and encourage your clients to join you, and the rest of the process of receiving and making payments would be taken care of by the service provider. Receiving payment from members and donors can be much more convenient with this process.
Direct Debit Helping In Your Transactions
Direct Debit makes the complete process much simpler for collecting occasional or regular payments. In not for profit organisations the main source of income is donations from donors and members, and to receive them on time it is important to set a method so that the work does not come to a halt. Direct Debit gives you the opportunity of collecting the payments at your convenience. Not for profit organisations can depend on this method for collection of regular payments on time and in the amount specified by both the parties mutually. You can have complete control on cash and also monitor its flow and accordingly set all the policies for your business. Under certain circumstances, if the member or the donor is unable to make the payment on time then you will be immediately notified by the service provider saying that there is a delay in payment.
Notification from Direct Debit
Even when the payment gets transferred, you would be made aware from the Direct Debit service provider immediately. Now more than 50 percent of population in UK is opting to use this method for making timely or recurring payments because of the ease with which they can make payments, and the number of transactions that take place annually has already gone beyond 5 billion. SmartDebit is one such institution that is being preferred by people opting for this method over banks because of the lesser formalities, better services, and lower transaction fee. The transparent fee structure makes it way more attractive for not for profit organisations.
Direct Debit Setup
Setting up of Direct Debit is very simple, and you will be given complete assistance in making the best use of the setup. The simplicity and ease brought in with the system assist you in retaining members and donors without putting any extra efforts. This method had proved its effectiveness in various organisations that run on charity or similar lines. You will get rid of all the payment headaches and would be able to shift your focus completely on doing business.
