Debit Direct USER Reviews: UK Fees & Pricing

Debit Direct is a UK-based company that offers debit collecting solutions. It was established in 2012 and authorised and regulated by FCA (Financial Conduct Authority).

While most of the companies in the Direct Debit Collection focus on larger corporations, Debit Direct aims to provide solutions for smaller, even newer businesses.

Prices/Fees

Direct Debit offers a pricing structure of a monthly fee of £15 and a transaction fee of 80p. This pricing system simplifies billing and eliminates any hidden fees.

Who Can Work With Debit Direct?

Running the Direct Debit Scheme directly through a bank requires full compliance with Bacs Service Rules, which can be complex and costly for companies. Additionally, banks typically only issue Direct Debits to companies with whom they have a good trading history, and registration can be a lengthy and challenging process.

Debit Direct offers a solution that allows companies to enjoy the benefits of Direct Debit without needing to satisfy the bank’s requirements or risk any losses.

While businesses of all sizes can work with Debit Direct, if you have a new business, you must prove that your company isn’t in the high-risk group to be eligible to work with Debit Direct. To make sure, Debit Direct conducts credit checks and KYC (Know Your Customer) checks on all companies, their directors, and shareholders as part of the application process.

Product/Service Overview

Online Portal

With their online portal, customers can manage their accounts from anywhere at any time. Recurring schedules and ad-hoc payments can be set up conveniently through the online portal.

Their team of professionals is dedicated to resolving any Direct Debit issues that may arise, ensuring that payments are processed smoothly.

File Conversion

You can transfer customer details from your existing accounting software to Debit Direct’s portal through conventional ways. Debit Direct doesn’t have a software solution to convert your files, however, most accounting software packages are able to export data in a compatible format for Direct Debit. If needed, Direct Debit can assist in creating the necessary template format.

Free 30 Days Trial

The company offers a free first month for customers to test their services and see if they are a good fit for their needs. Account set up is quick, with a turnaround time of 48 hours, making it easy for businesses to start using their services without delay.

Refund Policy

Debit Direct offers a refund policy that guarantees customers a full refund under specific circumstances. To ensure a smooth refund process, customers need to understand the important rules governing this policy.

Firstly, it’s crucial to be aware of changes in the amount being taken, frequency, or payment date, as these are the main direct debit regulations. In case Debit Direct fails to provide the required notice period for such changes, customers are entitled to claim a full refund.

Additionally, if Debit Direct takes payments in error, customers can request an “indemnity claim” from their bank for an immediate refund. Furthermore, customers may cancel a direct debit at any time before the payment’s due date. If funds are still taken after the cancellation, customers are entitled to an immediate refund.

Other

Debit Direct offers a number of benefits for businesses, including no charges for failed transactions, eliminating the need for businesses to chase slow payers, and increasing customer retention. With these services, the company aims to provide a hassle-free payment solution for businesses of all sizes.

Company History

Direct Debit was founded in 2012 in Manchester and has been operating successfully since then.

User Reviews

There is a limited amount of information available about Debit Direct’s performance online. While there are some reviews, the number is not substantial.

Trustpilot – 4.6 / 5 (based on 22 reviews)

Their Trustpilot score is currently at 4.6, but this rating is based on only 22 reviews. Due to the small sample size, it may not be possible to draw definitive conclusions about Debit Direct’s overall quality of service. Therefore, it’s crucial to consider other factors and sources of information when evaluating their performance.