According to directdebit.co.uk, nine in ten UK consumers pay some or all of their regular bills via Direct Debit and more than 4.5 billion Direct Debits were processed in 2019.
What is Direct Debit and how does it work?
Direct Debit is an instruction that you give to your bank or building society to authorise a business or organisation which you want to pay, to collect the money automatically from your account. Once set up, the payment date or amount can’t be changed by the organisation or business without telling you about it first.
What can I use Direct Debit for?
You can use Direct Debit for most payments, but the majority of people use it for regular and recurring payments such as utility bills, council taxes, fixed subscriptions or memberships.
Here at ExpenseIn, we are pleased to let you know that we have adopted Direct Debit as our new payment solution.
What are the benefits of Direct Debit?
If you are currently paying for your ExpenseIn invoices via Credit Cards or BACS, there are lots of great reasons to switch to Direct Debit:
- Set and forget – There is no need to worry about expired credit cards or making manual BACS payments, simply set up the Direct Debit mandate and let us take care of the rest.
- Reduces payment failures – Credit cards expire, get cancelled and can be used fraudulently, preventing payments from being taken.
- Reduces your admin time – With Direct Debit, there is no longer a need to handle failed payments or remember to make manual payments each month allowing your AP team to focus on what really matters.
How can you make the switch?
To switch your account over today, simply email our Billing team at email@example.com and we’ll be happy to arrange this for you. The switch process is very quick!
When you next receive your ExpenseIn invoice, you can then set up the Direct Debit mandate from within your Billing area and everything will be ready for future payments.
Who can access Direct Debit?
Please note, Direct Debit is currently only available to ExpenseIn’s UK customers. We will be looking to provide EUR billing and Direct Debit support in the near future.
Which Direct Debit platform does ExpenseIn use?
ExpenseIn uses GoCardless to process Direct Debit payments. Depending on your bank, payments may appear on your bank statement with GoCardless as the reference.
If you want to find out more about Direct Debit and how you can make the switch today, please contact our Billing team at firstname.lastname@example.org.