Feb 20, 2012

Direct Debit service – SmartDebit vs Bank

Many of our clients have chosen to use us, one of the UK’s leading Direct Debit Bureaus, rather than a bank to collect their payments by Direct Debit. Some said their bank’s service was limited. Others felt their bank was more interested in larger companies where larger profits could be made. As a Direct Debit Bureau, we cater for all types of organisations, no matter how large or small they are.

1st Reason: Length of time to set up?

SmartDebit: 2-3 weeks

Bank: 2 months +

As soon as the agreement is signed, we are totally focused upon integrating our service with your organisation. This allows us to complete the required tasks to get you up and running in as little as 2 – 3 weeks. Banks on the other hand, have a multitude of different services and procedures, which ultimately pushes the length of implementation time up.

2nd Reason: receive in-depth advice?

SmartDebit: Yes

Bank: ?

SmartDebit have been processing Direct Debit payments since 1998. Our experienced and trained executives will explain the entirety of the process involved and answer any questions you may have surrounding the collection of Direct Debit payments by your organisation. This level of expertise may be hard to find at a bank relationship manager level due to the centralisation of payment service resource.

3rd Reason: Help with completing forms?

SmartDebit: Yes

Bank: ?

If you are applying for your own Service User Number (SUN) from your bank but still want to outsource to SmartDebit there are a number of application forms that need to be completed. These forms can be very complex which is why our advisors will be on hand should you require assistance at no cost.

4th Reason: Do I have to purchase software?

SmartDebit: No

Bank: ?

There is no need to purchase software when collecting through SmartDebit. You will receive access to our easy-to-use SmartDebit-Admin portal, giving you total control and transparency when administering your collections. Banks often promote the sale of Direct Debit software.

5th Reason: Will there be on-going maintenance involved?

SmartDebit: No

Bank: ?

As a Direct Debit Bureau, we take care of everything. Our compliance team ensure all of our systems are in accordance with the continually evolving Direct Debit Scheme rules and Bacs procedures.

6th Reason: Is the process automated?

SmartDebit: Yes

Bank: ?

Our systems offer real time account validation when a new payer is signed up through our online SmartDebit-Admin portal and we are Paperless and AUDDIS compliant. Some banks still operate a paper mandate service whereby your customers will have to complete a form, which then has to be sent to the bank for data capture. With SmartDebit you can sign up customers by phone, online or face-to-face.

7th Reason: Can online Direct Debits be set up?

SmartDebit: Yes

Bank: ?

We set up an online service enabling your payers to sign up via your website using one of the following options:

Hosted ‘white labelled’ service

Fully branded API service

Arranging everything in-house can be disadvantageous in terms of development costs, on-going maintenance, security compliances, IT support and time.

8th Reason: Will I have a personal account manager?

SmartDebit: Yes

Bank: A relationship manager who may not be experienced in Direct Debits

You will be provided with your own personal account manager who will guide you through the initial implementation process as well as being a phone call away, should you have any queries about the service.

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