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2017 is a record breaking year for Direct Debit volumes

If you’re unsure whether to introduce Direct Debits over another other payment method, then the latest figures released by Bacs this month should remove any doubt over the security and integrity of Direct Debit payments.

Last year, Bacs passed a huge £1.3 trillion in Direct Debit volumes alone. The figure is so large, it’s almost hard to understand.

Why use Direct Debits for regular payments?

Bacs approved bureau - Direct Debit volumes
As a Bacs approved bureau, we know that many businesses and charities use a number of payment methods, including Standing Order or card transactions, to receive regular payments. But its only with Direct Debit payments that customer funds are safeguarded and receive full protection through the Direct Debit Guarantee.

Setting up Direct Debit payments also ensures that you still receive your payments on time, even if your customers switch bank accounts. There’s no manual work for you or any risk of losing payments – customers can just move to another bank and their Direct Debits are effortlessly moved over.

Almost 9 out of 10 adults in the Great Britain having at least 1 Direct Debit commitment, and 77% of people feeling positively towards this payment method in 2016.

You can be confident that setting up Direct Debits as a payment method is a trusted and reliable way of securing regular payments and managing your cashflow.

Explore how you can set up Direct Debits quickly and easily

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Posted by on 22/01/2018 within Direct Debit
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