What is the Direct Debit feature: Allowing payers to sign up to have their invoices paid via Direct Debit
Why use Direct Debit: Direct debit ensures reliable, on-time payments and reduces missed or late fees.
It saves time and administration by automating collections and improves cash flow predictability for businesses.
How to setup Direct Debit:
Follow these steps to setup the functionality for payers to be able to sign up for Direct Debit:
Step 1: Enable BACS Direct Debit payment method in Stripe. To do this:
- Log in to your Stripe Dashboard
- Go to Settings
- Payment Methods
- Find Bacs Direct Debit, click on the 3 dots and View Details
- Click Enabled. (If 'Inherit Status from platform settings' is ticked, untick it to allow you to enable.)
Step 2: Send a ticket to Support to ask that the Direct Debit feature be switched on.
Once you have had confirmation that it is live, move on to Step 3. Once the feature has been enabled, the recurring payment method will be visible for payers when they login under their invoices tab:
Step 3: Add your Direct Debit Terms and Conditions. In SpeedAdmin Play, Settings/ Finance/ Recurring Terms and Conditions
Insert your Terms and Conditions and Save
Step 4: Ask Payer's to login and complete a mandate.
You are able to get a link that you can send to clients which when they click on the link, it will ask them to login and then take them straight to the Setup Recurring Payment box. To get this link, you will need to login as a payer, click on invoices, +setup recurring payment, then copy the URL in the top.
This will be a generic link that you can send to all payers.
Step 5: Communicate the link to payers and manage signups.
Click Finance/ Recurring Overview
Using this page, you are able to see all payers that have not yet completed a recurring payment mandate and those that have. The ones that have not yet completed a mandate, you can select all to send an email and include the link that you copied earlier:
Setup is now complete.
Please be aware that any unpaid invoices will not be pulled through into the Direct Debit flow. Only charges after the mandate has been enabled will be included in the direct debut run.