Direct debit is a system whereby funds are withdrawn electronically by Bill Buddy from a customers bank account or credit card on the date(s) nominated by the Biller. All the customer needs to do is provide their authority prior to the first debit taking place.

How it works?

1. Your customer completes a Direct Debit Request Form. This is done by physically signing an authority or completing an electronic authority online (available to authorised billers only).
2. Bill Buddy commences debiting payments on the start date at the selected frequency.
3. Two to four business days (depending on payment origin) after the debit the cleared payment is transferred to you.
4. Comprehensive reporting provided each day a transaction occurs.
5. You have 24 hour access to our Biller Portal to manage customer payments and schedules.

Benefits

• Get paid on time
• Improve cash flow
• Make your product more affordable by offering payment plans
• Free up your time to focus on your core business
• Improve customer retention
• Comprehensive reporting & management via email and the Biller Portal
• Funds transferred to you daily
• No charge to self-manage your debit schedules online
• Bill Buddy does not interfere in the relationship between you and your customer
• Bank account direct debits appear on customer's statement as your company name
• Free automated emails to Customers prior to their debit occurring
• Support for multiple payment schedules.
• Support for fully automated schedules or totally ad-hoc transactions.