Last editedApr 20233 min read
Typically, your company will be looking for Direct Debit payments as they are cost-effective, secure and convenient for you and your customers. We list the relevant providers for Direct Debit below.
Direct Debit specialists
A Direct Debit specialist is a company that only provides Direct Debit (and no other payment method.) It is often worth picking a specialist Direct Debit provider because they are more likely to be experts in the payment method and be able to maximise your conversion, minimise failure rates, and act as trusted advisors. It may also be that they are integrated into other software that you are already using (e.g. Zuora, Salesforce), which argues for using them over a full-service provider.
Direct Debit Bureaus
A Direct Debit Bureau is a third party which submits payments into the Direct Debit system on your behalf. If you run a small business, these Direct Debit providers can help you manage your customer base and sign-up processes, taking the stress out of chasing invoices.
However, with many specialist firms, it can be challenging to find the right one that suits your business needs, so we’ve compiled a list of the best Direct Debit companies for small businesses.
GoCardless is the most popular Direct Debit provider in the UK. We offer a secure, automated way to collect customer payments without extra setup costs or monthly fees. GoCardless also integrates with your current invoicing software, allowing you to collect payments automatically on your preferred dates. It's a flexible and easy-to-use service for collecting payments and managing cash flow, eliminating the hassle of chasing late-paying customers or suppliers for payment. It's also cost-effective, with no setup fees or contracts.
SmartDebit is one of the UK's leading direct debit providers. It offers customisable payment solutions and an award-winning customer service team, with a Trustpilot score to match. The company provides three products: Bureau, Managed, and SEPA, making it suitable for businesses of all sizes.
Eazy Collect makes direct debit payments easy, with options to set up payments via various channels, including apps, online forms, and over the phone. The company is known for its low-cost solution and flexible payment schedules.
Debit Finance Collections
Debit Finance Collections is part of the Transaction Services Group (TSG), a leading international revenue management solutions provider. The company offers a Direct Debit service that provides analytical data and reporting facilities to help you gain more insight into your customers.
London & Zurich
With over 20 years of industry experience, London & Zurich is one of the most trusted names in the direct debit industry. The company's services are simple, secure, and customer-centric. It offers managed or facilitated services and can be set up via multiple channels, including online, over the phone, and face-to-face.
Vindicia provides a complete subscription management service with additional services to help businesses grow. It has a special service to recover failed payments, and business support and blogs are available.
Eazipay offers a simple, cost-effective, and reliable direct debit service for businesses of all sizes. It's easy to set up and operate, with dedicated account managers to help you along the way.
FastPay offers a range of direct debit services that cater to different business needs. It provides fast and reliable payment processing, with flexible payment dates and no setup fees or hidden costs.
Clear Direct Debit
Clear Direct Debit provides a simple and effective way to manage Direct Debit payments. It's cost-effective, with transparent fees and no hidden extras. The company also provides expert advice and support to help businesses get the most out of their services.
Access Pay offers a flexible and reliable direct debit service that helps businesses manage their payments efficiently. It offers a range of payment options, including one-off payments and recurring payments, with no setup fees.
In conclusion, selecting the right Direct Debit company for your business can help you streamline your payment processes, improve cash flow, and focus on growing your business.
Managing Direct Debits involves sending advance notice letters, issuing transaction codes, and balancing payments in your accounting books. Using Direct Debit management software, such as Bottomline or Fundtech, helps automate aspects of this process.
The advantage of full-service providers is that they often cover all of your needs in one integration. The downside, however, is that you typically have to do more yourself (e.g. to use Direct Debit, you may also need to register with your bank, a process that takes months and can be expensive). Moreover, they often have outdated APIs and may not integrate with your chosen solution, which can cause huge amounts of work and problems further down the line.
Full-service providers serving the UK: