17 replies to this topic

[bm_99]

Hey all, just finished setting my arc account so can start monitoring (no police cover yet) but wanted to find out what info do i need to get from customers R.E starting up a monthly standing order and also do they need to intiate the payment and or take the paperwork to their bank or should i take it to mine?

Thanks

[fozzies]

The company i work for invoice a year in advance, no standing order needed. part of maintenance contract

[PeterJames]

Standing order is a ball ache, you wont be notified if a customer cancels so you need to watch the figures to make sure nobody cancels, direct debit on the other hand is much more simple made much harder by the banks

[RichL]

PeterJames, on 11 January 2012 - 09:57 PM, said:

Standing order is a ball ache, you wont be notified if a customer cancels so you need to watch the figures to make sure nobody cancels, direct debit on

*Ding. Handy for late payers though. Do your S/o so they pay in advance, then dont show up for months!

[whistle]

RichL, on 11 January 2012 - 10:10 PM, said:

*Ding. Handy for late payers though. Do your S/o so they pay in advance, then dont show up for months!

[bm_99]

forgive my ignorence people but whats the difference between standing order and a direct debit.

also i understand its better to take money in advance but people just prefer to pay in monthly installements, think the way the economy is at the moment its easier for them

I would love the money in advance lol

[PeterJames]

DD cant be cancelled by the customer, but the bank wants your first born child as security S/O can be cancelled at anytime by the customer when you have hundreds of them it is quite difficult to keep track of who (if anyone) has cancelled

[whistle]

Lol, RBS want almost £2k to set up and supply the software for DD

[alterEGO]

Is nobody here using 3rd party DD collection?

[PeterJames]

alterEGO, on 13 January 2012 - 06:59 PM, said:

Is nobody here using 3rd party DD collection?

I was but now I dont need too, third party is fine but they hang on to the cash too long for my liking

[alterEGO]

PeterJames, on 13 January 2012 - 07:34 PM, said:

I was but now I dont need too, third party is fine but they hang on to the cash too long for my liking

I looked into it and it reminded me of the Paypal setup, outside of the normal rules so if they go tits up your fecked.
We just take everything in advance, if they don't want to then fine they can use someone else.
I think it makes more sense for the domestic setup like ADT etc.

[magpye]

PeterJames, on 12 January 2012 - 06:17 PM, said:

DD cant be cancelled by the customer,

Surely this is not true, i've cancelled DDs in the past for one reason or another, never had a problem.

It does start a dialogue that then gets any problems sorted out though.

[bm_99]

So 3rd party, another company does the leg work for you??, customers transfers money to them and they transfer to us??

[PeterJames]

magpye, on 14 January 2012 - 08:09 PM, said:

Surely this is not true, i've cancelled DDs in the past for one reason or another, never had a problem.

It does start a dialogue that then gets any problems sorted out though.

Standing orders can be stopped but dd needs the permision of the collector, the collector can also change the amount collected

[alterEGO]

PeterJames, on 14 January 2012 - 08:31 PM, said:

Standing orders can be stopped but dd needs the permision of the collector, the collector can also change the amount collected

I'm sure that is not the case, yes you can change the amount but anyone can cancel a DD. I had to do it last week when we changed our fleet policy and our old insurer didn't reply to our emails.

[PeterJames]

I couldn't cancel my DD agreement with orange I had to threaten to close my B account, Orange had continued to take my money after I had cancelled in writing it was a real nightmare but this was nearly 20 years ago. I assumed it hadn't changed as the bank wanted my first born child, both my houses, and my villa in Portugal as collateral

[alterEGO]

PeterJames, on 15 January 2012 - 06:51 PM, said:

I couldn't cancel my DD agreement with orange I had to threaten to close my B account, Orange had continued to take my money after I had cancelled in writing it was a real nightmare but this was nearly 20 years ago. I assumed it hadn't changed as the bank wanted my first born child, both my houses, and my villa in Portugal as collateral

well back then I was 6 and didn't care about DD lol.

[jameswilson]

YOu can cancel a dd as above i have doen so myself. But the company gets notified of failed dd's so its easier to manage