Standing Order Form

[whistle]

Will phone RBS this afternoon.

[lawandorder]

No, i think its the other way around. A customer can stop it easily but the comapny cannot alter the payment amount or date etc.

Also you do not get a warning if any that fail, you have to check each month that they went through, whereas as DD has much improved reporting for the company

redbull is right, an SO is just an intruction from the client to his bank and he can stop it at any time and also as redbull says you get no warning if they do cancel or the payment doesn't come through.

I set up a secondary account for recieving standing orders and manually went through all the payments every month to make sure all SOs had come through.

[advancedprotection]

with D/D the customer has more control and if he decides that he is not happy with the service he can go to the bank and claim indemnity which results in the bank claiming all the money back to him on his behalf. my dad works in an insurance brokers and this is common practice with a few dodgy customers. if you use s/o the customer cannot claim the money back.

[james.wilson]

Agreed but they can stop the S/O. You can also only claim back a DD on the day it is presented. After its cleared (ie the day after) you cannot.

We know this as we have tried in the past to get back money when orange have taken too much and it differed from the bill. Granted they credited it, but there is not the protection of say a credit card.

Another option is an online payment system etc who can setup recurring payments (maybe paypal can do this now?)

[Cubit]

redbull is right, an SO is just an intruction from the client to his bank and he can stop it at any time and also as redbull says you get no warning if they do cancel or the payment doesn't come through.

Worth a look here.

[hpotter]

My advice if your going to do STO's or DDM's and are on cash accounting, sort it out first with customs & excise. Remember you have to hand over the vat as you receive it. Also your invoicing needs to change as you are not actually invoicing for the full amout at the point of sale.

STO's need better bookkeeping on your part. (easier now though as banks put customers name on your statement not just their acct number as building societies do). Youve got to check yourself each month who's paid and who's not, and of course reclaim monies owed, repay overpayments not to mention the debacle with the vat - who you overcharged who owes you & customs (cause you claim on their behalf).

Costs can mount up (we pay 35p/transaction thats

oft147.pdf

[alterEGO]

I was lead to belive the CCL is just a registration number, [in place so the customer can complain to the right ppl if they feel the need] are there any stipulations in place to get a CCL and any procedures to follow once you have one?

[whistle]

My advice if your going to do STO's or DDM's and are on cash accounting, sort it out first with customs & excise. Remember you have to hand over the vat as you receive it. Also your invoicing needs to change as you are not actually invoicing for the full amout at the point of sale.

STO's need better bookkeeping on your part. (easier now though as banks put customers name on your statement not just their acct number as building societies do). Youve got to check yourself each month who's paid and who's not, and of course reclaim monies owed, repay overpayments not to mention the debacle with the vat - who you overcharged who owes you & customs (cause you claim on their behalf).

Costs can mount up (we pay 35p/transaction thats

[hpotter]

I was lead to belive the CCL is just a registration number, [in place so the customer can complain to the right ppl if they feel the need] are there any stipulations in place to get a CCL and any procedures to follow once you have one?

Think you'll find its quite a hefty bit of legislation in terms of severe penalties and rigourously enforced esp if someone complains. The requirements for obtaining the licence are fairly stringent including crb checks ( Grievious or ABH etc need not apply). A security co shouldnt have any problems (more agg getting a service user no from your bank).

The proceedures as such are more to do with your contracts being fair and the way you advertise among other things. Surprisingly the two "core" terms not fully covered are your price & definition of product, though I'd get prof advice on them too.

After this, not sure if its woth the trouble.

Better cashflow.

Your bank can see inside your business, so more willing to lend.

Oh, and the best bit is booking in RM's - customer not got to shell out a lump sum so its "yes, come round when you like", not "ah, I'm away that week" or "the guy you need to talk to isnt here" or ............