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If i provide details of bank account but don't have a debit card for that account can the company take any money from that account without setting up a direct debit?
Yes. A debit card is not related to a direct debit. A direct debit is your authorisation to your bank to pay whatever amount is requested by whomever the direct debit is in favour of.... a utility company, a service provider or other business.... on a regular basis, usually monthly or yearly. A debit card is a way of paying for individual transactions, on the spot, without using cash. The total can be deducted from your account when the card is processed by the trader.
How journal entry to record direct labor?
Debit direct laborCredit cash / bank
What does DD mean on a bank statement?
Direct Debit
How to transfer money from someone else's account into mine by direct debit?
This can only be done by the other party setting up a direct debit mandate specifying you as the beneficiary.
What Does Alis PINS Coll mean?
It's a Direct Debit payment to Pinnacle Insurance.
Advantages and disadvantages of direct debit?
advantages: -safest way to pay your bills and make regular payments. -it has no processing fees.
Which companies offer direct debit guarantees?
A Direct Debit guarantee is a form of protection offered by the institution that the Direct Debit is accepted by. All banks and building societies that accept Direct Debits offer this protection.
What are the disadvantages of reloadable debit cards?
Some disadvantages of reloadable debit cards are that it relaly doensnt help your credit and it is sometimes a hassle to go to the store everytime you have to reload it
How much cost would you incur if you choose direct debit UK payment system?
It depends on the direct debit provider whether the setup will be free or they would ask for charges. Some providers setup the direct debit software absolutely free with zero monthly charges too. I am not aware of other providers but my Gym centre uses Accesspay as a direct debit provider. Their direct debit software also offers you a reporting and dashboarding feature that will immediately alert you of any problems in collections.
If i provide details of bank account but don't have a debit card for that account can the company take any money from that account without setting up a direct debit?
Yes. A debit card is not related to a direct debit. A direct debit is your authorisation to your bank to pay whatever amount is requested by whomever the direct debit is in favour of.... a utility company, a service provider or other business.... on a regular basis, usually monthly or yearly. A debit card is a way of paying for individual transactions, on the spot, without using cash. The total can be deducted from your account when the card is processed by the trader.
What does the Direct Debit reference Alis Pin Coll refer to?
It's a Direct Debit to Cardif Pinnacle Insurance probably Mortgage payment protection policy
How journal entry to record direct labor?
Debit direct laborCredit cash / bank
What does DD mean on a bank statement?
Direct Debit
How to transfer money from someone else's account into mine by direct debit?
This can only be done by the other party setting up a direct debit mandate specifying you as the beneficiary.
Is direct debit a good payment system?
Generally, for regular payments, direct debit is a good payment system as it means that there is no need to worry about paying a bill as it is automatically taken out of your bank account. However, if your bank balance is uncertain, direct debit is perhaps not the best payment system.
Can anyone help us with a training session on direct debit payment system?
Hi! You can start off the training with some basic points like what is Direct Debit, how to set up a Direct Debit, how to cancel a Direct Debit etc… you can easily surf the net and prepare a brief on the said topics.Personally I haven't heard of a professional direct debit trainer available in the market.It seems like learning through trial and experience is your best option.I work in an environment agency and our boss too wanted us to upgrade on the direct debit payment systems. We contacted Accesspay after reviewing them over the net. Their sales team was extremely co-operative and helpful through the entire discussion. We were so convinced we are currently using Accesspay direct debit software.
How do you manage cash flow of an organization other than processing cheques?
Still going for the old payment method of waiting for clearing cheques and all that hassle surely? Go for a direct debit payment solutions. It's a secure method of payment due to the Direct Debit Guarantee. Does away with the need for submitting and processing cheques. You'll never see a post-dated cheque (eek!) again. You just need to set up direct debit by installing direct debit software. The software will be made available by any UK based direct debit provider. From personal experience I would recommend the direct debit management software from Accesspay. This company provides instant setup of direct debit with zero installation charges. Also, their reporting and dashboarding feature will give you a quick snapshot of cash flow.
