How to set up a Direct Debit Facilities Management service

Start-ups and small businesses needn’t miss out on the benefits of Direct Debit. Smaller enterprises can reap the benefits of regular payments and better cash flow with the help of Direct Debit Facilities Management services from Interbacs. Here, we explain what Direct Debit management involves, its benefits, and how to get set up in no time.

How small businesses and start-ups can use Direct Debit

If you’re the owner of a fledgling or established small business you might struggle to meet the criteria required to obtain a Bacs Service User Number (SUN), which is the key to managing Direct Debits in-house. For smaller businesses with an annual turnover of less than £1 million or start-ups that have been established for less than three years, getting a SUN is difficult. The cost of obtaining one is unlikely to be worth the effort either.

So is Direct Debit the sole preserve of big, wealthy businesses? Absolutely not. Far from it, in fact. Because your SME can enjoy exactly the same Direct Debit benefits as bigger business entities. The only difference is how your Direct Debits are managed. A Bacs-approved Direct Debit Facilities Management provider, like Interbacs, can oversee the collection of Direct Debit payments for you, as well as all the fiddly administration.

The benefits of Direct Debit Facilities Management

Partnering with an approved Direct Debit Facilities Management provider means that your small business can benefit from taking Direct Debit payments from your customers. If your business doesn’t meet the criteria for obtaining a SUN, then your Facilities Management Provider can simply take away all the hassle of managing your Direct Debits for you. So you’ll have more time to concentrate on what you do best.

You will be supported every step of the way with your Direct Debit collections by your dedicated Bacs processing team. Whilst all the administration and technical heavy lifting is handled by the experts from your third-party Facilities Management Provider, it is ultimately your business name that appears on customer statements. This is an extremely useful feature for enhancing trust and credibility amongst your customers.

How to set up a Direct Debit Facilities Management service from Interbacs

Setting up a Direct Debit Facilities Management service with Interbacs is quick, simple and easy. The first step is to discuss your Direct Debit requirements with our experts. They will set up a package that is tailored to your needs and budget. Once we’ve assigned you your unique, six-digit SUN, you will then need to obtain a Direct Debit Instruction (DDI) from your customer, either online, over the phone or using a paper mandate.

A DDI enables you to give notice to your customer that you intend to collect future payments and obtain their permission to do so. Once you have the DDI, you simply send us your customer’s account details, the amounts you wish to debit from them, and the specified collection date. The team here at Interbacs can also build you a bespoke branded portal to capture the details directly from your clients. A branded portal can make your online payment presence look much more professional. Your dedicated Interbacs processing team will then prepare and submit those details to Bacs on your behalf.

Your customer’s account will be debited and those funds will be credited and held in your designated Client Trust Account. As soon as the funds clear, we will then transfer the funds into your bank account. We monitor any cancellations or amendments, and your dedicated account manager will keep you fully updated at all times. We also ensure you remain compliant with the Direct Debit agreement and receive your payments on time.

Why choose Interbacs?

Interbacs was established by Bacs software developing experts. With a team boasting more than 30 years of combined industry experience in Bacs and business payment software delivery, we deliver the highest quality results in payment and collection solutions. Our friendly, professional and efficient processing team is always on hand to answer your phone calls and provide service and support with a smile.

Interbacs can facilitate your Direct Debit transactions without the need for sponsorship from your bank or the administrative and financial headache associated with managing your Bacs collections in-house. Our Bacs-trained processing team handles all your administration and monitoring processes. That means all your cancellations and amendments are captured efficiently. So you can focus on growing your business.

Save time and money with reliable, professional, and innovative payment solutions and services from Interbacs. For more information about our Direct Debit Facilities Management service, or any of our other products and services, please contact us.