![]() ![]() While you’re left in the dark, your cashflow remains uncertain and could impact on your own ability to pay important bills. This could take a month or longer, depending on the payment frequency. They can cancel or change their payment arrangement without informing you and you’ll only find out when the payment doesn’t show up. With Standing Orders, the customer is in control. With Direct Debit, the baton is in your hands as its flexibility allows you to adapt the payment to suit your business needs. The customer doesn’t need to authorise this, they simply need to be informed in advance. With a Direct Debit, when the payment amount, frequency or payment date changes, you can collect the new amount on the date of your choosing. A Direct Debit Instruction from a customer to their bank authorises you to collect money from their account.Any changes to the amount, frequency or date of collection must be arranged by your customer with their bank. A Standing Order is an instruction from a customer to their bank to pay a fixed amount to you on a regular basis.But why, when both achieve the same thing – cash transferred from your clients’ bank account to yours – should you opt for Direct Debit?įirst, let’s look at the difference between Standing Orders and Direct Debits: Used by hundreds of thousands of businesses and organisations, it’s now the preferred payment method for more than half of the population. Instead, you can harness the power of Direct Debit to transform the way you receive money. Relying on them to collect subscriptions is an admin headache your business simply doesn’t need. They’re unpredictable as they can be unexpectedly cancelled, they’re inflexible as the onus is on the customer to change its details, and they’re time-consuming as you need to allocate resources to deal with their shortcomings. Standing Orders are plagued by limitations that you’ve no doubt encountered in your business. Here we explore why, when you’re already offering clients the latest in communications technology, you need to also give them the most advanced payment option available. The most popular choice is Direct Debit, a reliable, flexible and fully traceable way to get paid that has revolutionised how businesses operate. ![]() The tried and tested methods of collecting regular payments, such as Standing Orders, have become outdated and outsmarted by modern, integrated payment solutions. If your telecoms business is still resisting 21st century payment tech, it’s time to play digital catch-up. ![]()
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