Save time and money with our debit order collection solutions.
Does your business need more automated and innovative collection solutions? We offer effective and automated solutions that can reduce your risks and improve your cash flow, regardless of the size of your business.
The debit order collection services provided by Direct Debit include online systems that enables debit order collection regularly from both bank accounts and credit cards.
Our debit order collections are typically used for monthly collections on services such as insurance policies, subscription services, property rentals, gym memberships and donations and can be set up for fixed or varying monthly amounts.
Using a debit order collection system in order to receive recurring payments from clients has many benefits for a business. Some of these include:
- Improve collection of monthly fees by using our debit order facilities
- Better budget planning and increased cash flow
- Seamless collection of fixed or varying amounts
- Reduce collection costs including legal fees, bank fees and administrative costs
- Automate the payout of salaries and wages by using our EFT credit facility
- Account Holder Verification services to verify account holders by matching their registration numbers or ID numbers
- Automated debtors process, using SnapBill’s invoicing and billing solutions
- Get client authorisation electronically using our electronic mandate solution
- Processes debit orders to most South African banks:
- Two-day EFT debits
- Same-day EFT debits
- Non-authenticated early debit orders (NAEDO)
- Credit cards
- Authenticated collections (Coming soon)
How does it work?
Once you are signed up for the service, you can submit your electronic debit order collection files to Direct Debit via our online portal or through our API integration.
You must have a mandate from your customers authorising you to collect funds from their bank account. We accept voice, paper and electronic mandates.
Funds collected are deposited directly into your nominated account. Reports with the details of the individual collection transactions are readily available for use in performing reconciliation or automated reconciliation if using our API integration.
For more information on how to apply or to find out how debit order collections can help you streamline your collections, please contact us today.