Where would we be without direct debit?
From rent and council tax to Netflix and Spotify, direct debit is a lifesaver of a payment solution.
It ensures that we don’t forget to pay a bill, and makes for a more comfortable and hassle-free financial life.
As a business owner, offering direct debit solutions is a huge perk. It’s an attractive option for customers who can sign up and relax knowing that important card payments will be taken care of automatically.
For a business, it can be a cost-effective way to streamline and manage your monthly cash flow.
There’s an overwhelming amount of merchant accounts and payment processing solutions companies who offer direct debit plans. If your business is considering accepting direct debit collections through the BACS service scheme, we’ve compiled our top 10 favourite Direct Debit services to help you out!
What makes an excellent Direct Debit service?
It’s crucial that you do your homework to make sure you get the best deal possible for your business needs.
All of our top 10 picks have the following:
- Solid online reviews and reports of excellent customer support.
- Simple, easy-to-use interfaces and apps.
- Reportedly reasonable service fees.
It’s important to note that the vast majority of direct debit providers offer bespoke fees based on the size of your business, income, and volume of transactions. So, if you like the look of one of our top 10, make sure to contact the company directly for a quote.
You probably know WorldPay for their merchant accounts. An American giant, WorldPay is actually the most popular payment processing company in the UK. As well as a dependable merchant account, WorldPay also offers excellent direct debit services for small businesses and start-ups.
Here are some WorldPay features:
- Accepts over 300 types of global payments.
- You can customise recurring payment plans to weekly, biweekly, or monthly.
- Compatible with local card schemes, such as ELV and UnionPay.
A unique direct debit services platform, Adyen actually connects directly to the payment method – debit/credit card (instead of the bank account). This lets businesses optimise their growth, and make it really easy for customers to sign up for a direct debit. Adyen customers are also protected by the direct debit Guarantee in the rare event of an error occurring.
Adyen direct debit services have the following features:
- Offers recurring/subscription payments that includes tools to increase customer retention and minimise cancelled subscriptions and failed payments.
- direct debit payments in the UK directly from Visa, Mastercard, Amex and Paypal.
- direct debit available for SEPA (Single Euro Payments Areas).
3. Secure Trading
Established in 1997, Secure Trading is one of the world’s safest payment service providers (as you may have guessed from the name!). Over time, Secure Trading have developed strong B2B relationships through their bulletproof fraud and security services which is why they’re the go-to online payment processor for well-known gambling sites like Pokerstars and Football Index. It’s worth noting that Secure Trading does not publish any of their pricing online, so we can’t help you out with any monthly or annual fees.
Although they do not offer specific direct debit services, they do offer a number of recurring payment solutions such as:
- Manage recurring payments and one-off transactions through their own transaction tool – MyST
- Transaction processing on a weekly, monthly or quarterly basis.
4. First Data (Fiserv)
Having entered the card processing scene in 1971, First Data are veterans when it comes to payment solutions. Despite its recent merger and ‘Fiserv’ rebranding, First Data continues to show it’s leadership and experience through their array of payment processing schemes that you can manage from a single, real-time integrated platform called First Vision.
Here are some First Data features:
- ‘Accurate Reconciliation’ by Fizerv makes daily, monthly and quarterly forecasting a breeze by automatically analysing your bank statements and data feeds to give you accurate results
- An flexible collection of APIs that enable you to pick and choose from the integrated platform to suit your business best.
- Global expertise and cutting-edge payment technology.
Check out our First Data review for a deeper insight.
With a brand-new, zero monthly management fee offer for 2021, Barclaycard could be a great payment acceptance option for your business this year. Barclaycard makes it incredibly easy to set up direct debit services through their mobile app, which gets an A+ for functionality and user experience.
Here are some Barclaycard features:
- Manage your account online with ease.
- Zero monthly management fees for 2021.
- Strong brand reputation and fraud protection services.
6. AIB Merchant Services
AIB Merchant Services is one of the largest payment providers in the UK and Ireland. Based in Dublin, AIB offers a range of methods to make and receive direct debit payments both domestically and internationally.
Through the SEPA direct debit (SDD) Scheme, AIB customers benefit from a selection of electronic Payment File Services which ensures paperless, secure and cost effective transactions between the payer and payee. AIB also offers a facilities management solution to upload Multicurrency (MCY) payment files.
Check out our AIB Merchant Services review for a deeper insight.
Here are some AIB Merchant Services features:
- Specialise in different sectors and tailored specifically to your requirements.
- 30 years of experience.
- Transparent customer service team.
7. Opayo By Elavon
Opayo by Elavon is the new name for Sage Pay, one of the UK’s most successful and trusted payment providers. You only have to look as far as their 96% review ratings on Trust Pilot to assure yourself of their credentials.
As well as providing an industry leading payment gateway for customers, Opayo’s ‘MySagePay’ interface offers real-time reporting and analytics that is protected by a top of the range security system.
Here as some Opayo features:
- 24/7 Customer Support.
- PCI DSS Level 1 compliance (security is tight).
- Extensive range of payment solutions.
8. Realex Payments
Specialising in eCommerce payment solutions, Realex payments offers a great option for businesses with a firm focus on online payment processing. Acquired by Global Payments in 2015, Realex has become one of the big hitters in terms of online payments. On top of accepting over 140 payment types, Realex offers a recurring billing scheme that is extremely easy to set up and suitable for all businesses.
Here as some Realex features:
- Global presence with offices in 38 different countries.
- Experience working in 70+ different industries.
- Expert customer service in more than 30 languages.
Established in 1991, Elavon has grown into one of the largest payment providers in North America. Their flexible, user-friendly payment solutions have helped them gain over 1 million customers in over 30 different countries.
When it comes to recurring payments, Elavon has your back. Manage online subscriptions, integrate promotions and roll out new pricing plans with the safety net of the latest 3DS V2 authentication technology.
Here as some Elavon features:
- Excellent security and fraud solutions.
- Elavon Connect offers state of the art reporting tools that add substance to your business decisions.
- Modern eCommerce solutions.
10. Card Cutters
As an agent of Allied Irish Bank (AIB Merchant Services), you know you’re in good hands if you opt for Card Cutters. They might not be one of the biggest names in the game, but their competitive pricing and sleek eCommerce solutions make them a great alternative for start-ups and small businesses. Once you’ve opened up your cashplus business account, you’ll be blessed with an abundance of features that’ll make your life a whole lot easier.
Check out our Card Cutters review for a deeper insight.
Here as some Card Cutters features:
- No fixed payment term. Only pay when you get paid.
- Competitive pricing with no hidden fees.
- Quick and easy set up.
If you want to keep your options open, don’t let your search stop here. Our round-up article of the cheapest merchant services is another great insight for business owners who are looking to save a few bob.
If you’re ready to save up to 40% on your credit card processing fees, be sure to try out our card processing fee comparison tool.