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As i in does tries!: My definition.
I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!
My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!
To become a direct debit originator you would need to be sponsored by one of the 18 member banks, the service isn't free but as it is the banks that charge for the service. You would need to speak to the BACS Liaison team at your chosen bank to discuss the processes you would need to go through to become a Direct Debit Originator.
Abbey, Alliance & Leicester (Girobank), Bank of England, Barclays, Clydesdale, Co-Op bank, Coutts & Co (RBS), Clydesdale, Danske Bank, Halifax Bank of Scotland, HSBC, Lloyds TSB, Nat West (RBS), Nationwide, Northern bank, Northern Rock, Royal Bank of Scotland and Yorkshire.
As i in does tries!: My definition.
I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!
My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!
I have a feeling I know what you are coming from on this one
Hi natweststaffmember, not sure what you my be implying, care to explain!
Also would there be any process or mechanism that could bundle the total direct debit costs to consumers, without using `The total charge for Credit'?
Andrew
ASI Industries = As i in does tries!
As i in does tries!: My definition.
I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!
My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!
Not all direct debit transactions are for credit agrements. and likewise not all credit agreements are paid by DD
I don't see what you are getting at with your various threads on this subject.
Please clarify the point you are trying to make.
If there is any bank members that can offer any insight into pre-loading direct debit without using the CCA!
It make no financial sense for a company to offer direct debit at zero cost, in fact it would be financial suicide to offer a cost free of charge to the consumer, therefore the only conclusion would be they have pre-loaded that cost and the price you see is in fact `The total charge for credit'!
Andrew
ASI Industries = As i in does tries!
As i in does tries!: My definition.
I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!
My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!
I have to admit total and utter ignorance on the subject and still have no idea what you are talking about. Are you sure this is not better put in Legalities because some companies use the system called AUDDIS which means the bank does not really set it up and others go through the bank where it is keyed onto an account. Most dealings by Bank Workers would not deal with the matters you mention.
The company who takes you're money from your account, and gets the money, pays the cost of the direct debit. I work for vision express, and help process the direct debit scheme we have that our customers use.
Our company negotiated the price of the direct debit with banks, or BACS. I'm not sure which. But if many more customers join, we may be able to say "Right, we are throwing so much direct debit business your way, we deserve a lower fee", and knock down the cost of getting our customers money by direct debit.
Once a month, we run an automated program, that collects data from our database, that collects the bank account details and value of the direct debit we want from each customer. This is put into a single file. We send that single file to BACS. The day after the direct debit comes out, we download another file from BACS. This tells us what money we claimed, and which accounts failed, with a reason code. We then run another program that loads all this data back into our database, and we send automatic letters to our customers if the Direct Debit failed. We do not charge our customers for failing to pay.
The import point is, the company that you pay via direct debit pays for it, and each company can negotiate the price.
Another question for (Bigmac versus) & or (The Neals) regarding the direct debit originator licence fee is it a one off or yearly?
What i have found is D.D are not free someone somewhere has to pay them, the companies pay them in full, the customer may be refunding the cost of the D.D depending on how devious the company may be!
I have found an additional two companies that also do not forward the D.D costs to the customer.
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ASI Industries = As i in does tries!
Andrew
ASI Industries = As i in does tries!
As i in does tries!: My definition.
I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!
My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!
Are Direct Debits free?
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Re: Are Direct Debits free?
Re: Are Direct Debits free?
Originally Posted by natweststaffmember
