(Article 3) How Direct Debit is Changing the Face of the Receivables Wristwatch
After all that talk about cash and checks, things are definitely looking up! Depending on your vantage point, direct debit could be just what the doctor ordered, and right on time. For businesses on the receivables end, nothing could be more seamless and carefree than knowing they have permission to extract payment at a certain date for their goods or services provided to customers. For a great deal of buyers, direct debit means not having to think about remembering, scheduling, or possibly forgetting payments.
As a business owner, manager, or franchise operator, don't let direct debit sound too good to be true. You have a right to immediate payment for your services if that's what you and your customers agree to at the outset of your relationship. If the verbiage is in the contract, your business is well-within its rights to reach into your customer (or franchisee's) bank account and extract payment on the date it's due. Best of all, your customers will thank you for making yet another manual process (paying their bills), a "no-brainer" for them, and you'll get your money, every month, just like clock-work. |