Change to the Direct Debit Indemnity Claims Process
For many of us, Direct Debit Indemnity claims although small in number present a manual and timely exercise to reconcile and settle. Not least because of the covoluted and tiresome forms that make up the paper trail.
We are pleased to inform you that during October 2010, Bacs will be phasing out the paper based process and migrating to a fully automated online reporting and payment settlement system (DDICA).
As a Service User you will benefit from getting to hear about Indemnity Claims sooner, without the paper flow and money will be automatically debited from your account instead of you raising a cheque or Bacs payment.
Rapidata has just learnt of the timelines for implementing the change and will be drafting up our own procedures and keeping you informed of how these affect you.
Bacs will be informing all Service Users in March about DDICA and you will probably receive information from your bank about the positive change. But you don’t need to worry, for the majority of Rapidata customers there will be minimal implications. You will not need to make any changes as Rapidata will be working on the automation of the reports from Bacs to our system on your behalf.
Rest assured, we will continue to keep you informed of the DDICA development throughout the year. Saying that, if you have any concerns at all don’t hesiate to call us for more details.