Where would we be without Direct Debit?
From rent and council tax to Netflix and Spotify, Direct Debit is a lifesaver.
It ensures that we don’t forget to pay a bill, and makes for a more comfortable financial life.
As a business owner, offering Direct Debit capability is a huge perk. It’s an attractive option to customers, who know they can sign up and relax that everything will be taken care of automatically.
For a business, it can be a cost-effective way to streamline and manage your monthly cashflow.
There’s an overwhelming amount of merchant accounts and payment processing solutions companies who offer Direct Debit plans. To help you out, we’ve compiled our top 10 favourite UK Direct Debit services!
What makes an excellent Direct Debit service?
“Direct Debit service” certainly doesn’t sound exciting. It’s not quite shopping for a new car! That being said, 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 custom 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.
With that out of the way, here’s our Top 10 UK Direct Debit Services!
One of the most popular Direct Debit services in the world, GoCardless gives businesses a Direct Debit solution that cuts out the hassle. GoCardless processes an incredible $10bn in transactions a year! With over 50,000 companies using this service, you know you’re getting a tried and tested product.
Here are some GoCardless features:
- No annoying setup costs.
- Not tied into a contract.
- You can begin to take payments on the same day.
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.
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.
AccessPay is a payment service provider that was formed by a group of financial and tech professionals, intending to simplify payments. The main perk of AccessPay is that they work fast – you could be fully set up within 48 hours.
Here are some AccessPay features:
- One fixed annual fee.
- UK-Based customer service team provide a fast and helpful response.
- No transaction fees.
SmartDebit offers Direct Debit products to businesses of all sizes. For a large business with a BACS service user number, the ‘Bureau’ service is highly rated. For a smaller company, the ‘Managed’ account is an excellent option.
Here are some features of SmartDebit:
- Offers online payments and even cheque processing.
- Flexible and bespoke Direct Debit payment options.
- SmartDebit can manage all Direct Debits, and save you some hassle!
5. Eazy Collect
A UK based Direct Debit service, Easy Collect offers a reliable and straightforward payment processing solution close to home. Eazy Collect is a favourite among small businesses and start-ups.
Here are some Eazy Collect features:
- Customers can set up Direct Debits online, on the phone, through a web form, via an app, or even through their own CRM (customer relationship management) system.
- Low admin costs.
- You could start accepting Direct Debits within a week of enquiring.
6. London and Zurich
With two decades of industry experience, London and Zurich help businesses (both established and new) utilise Direct Debit and BACS systems. A massive name in the UK, this firm has particularly excellent online reviews.
Here are some London and Zurich features:
- Customers can set up a Direct Debit over the phone, online, through their tv, or on a mobile app.
- Keep on brand, with the Branded Direct Debit Facility.
- Available from as little as £29.99 a month.
Don’t get confused with the previously mentioned and similarly named “Eazy Collect’! Eazipay is an entirely different company, targeting the often neglected small business area. They offer Direct Debit services to small businesses and start-ups who wouldn’t be able to do so with their own bank.
Here are some Eazipay features:
- A flat fee of 40p per Direct Debit collection – no matter the payment amount!
- Funds cleared and in your account within 3 working days.
- Includes your business name on the customer bank statement – adding a personal element to the transaction.
A unique Direct Debit services platform, Adyen actually connects directly to the payment method – Visa, Mastercard, and more (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 Direct Debit services have the following features:
- Offers recurring/subscription payments with many local payment methods, like Alipay and iDEAL.
- Direct Debit payments in the UK directly from Visa, Mastercard, Amex and Paypal.
- Direct Debit available for SEPA (Single Euro Payments Areas).
From big corporate businesses to small charities, Fastpay offers excellent facilities management and Direct Debit service. With an incredible setup time, Fastpay is a great option if you need your Direct Debit service up and running pronto!
Here are the features of Fastpay:
- No monthly or annual fees.
- Set up within 24 hours.
- Offers flexible pricing, with a pay-per-transaction system as well as volume discounts.
Vindicia is another excellent option to help your businesses set up recurring Direct Debits. It has two popular services: Vindicia Cashbox (software-based) and Vindicia Select (a cloud-based payment solution that tries to solve any failed transactions).
Here are some Vindicia features:
- Offers a free trial period.
- Accepts most currencies and card payment types, including customer-favourites PayPal and Amazon Payments.
- Management handles customer acquisition and billing while giving you advice on how to retain customers and even grow.
Direct Debit is a must-have for most businesses. It makes it easy to manage your income, and it means the payer won’t forget to complete a transaction.
Picking the right Direct Debit service can be frustrating – mainly because most of them don’t advertise their rates! Unfortunately, you’ll need to do a bit of homework and figure out who can offer you the best bang for your buck.
That being said, all of our top 10 have received excellent online reviews, and are bound to give you a reasonable rate. We recommend picking a couple you like the look of and see who gives you the best fees.
If you’re looking to save even more money on your business, make sure to check out CardSwitcher. With just a 2 minute quote, you could save up to 40% on your Debit and Credit Card processing fees!