When your customer needs to pay you for a regular ongoing expense such as a subscription or utility, direct debit is an easy way to collect money directly from their chosen bank account. And now you can set up this simpler way to pay in Wiise.
Why use direct debit?
Direct debit has several benefits for your business:
- You’ll get paid on time
- It can improve your cash flow
- Spend less admin time processing and chasing up payments
- Improve your customer loyalty and retention — it’s easier to pay
How to get set up with direct debit
To get started, you'll need to set up a direct debit facility with your bank so you can process direct debit payments. And your bank will need to support ABA (Australian banking association) file processing—most major banks do.
Your customer will get added peace of mind knowing that you can’t debit their account without their authority—you need a Direct Debit Request (DDR) for each account too.
Let’s get started
Once you’ve got these things set up, you’ll be able to send a payment file to your bank to collect the payments direct from your customer's account. Simple.
Don’t worry if you need to check up on a payment—there’s a register in Wiise where you can see which payments have come in. Then you can keep your customer in the loop with an email to let them know if a payment was successful.
You can find all the details about setting up direct debit in Wiise here.
And if you have any questions, you can get in touch at email@example.com. We’re here to help.