OT: Direct Debit Intermediary services

[Myfordman]

I'd like to collect property rental via direct debit as there is a distinct advantage over standing orders as the payee is alerted as soon as the payer tries to cancel the DD but you only find out about a cancelled SO when it does not arrive.

As a private individual I can't collect DD myself but an intermediary can on my behalf.

So - is anyone here using any of these intermediary services and would you recommend them please.

TIA

Bob

 

[GeordieStew]

GoCardless charge 1% iirc.

They've been pretty good, although I've only used them on a much larger scale.

 

[Myfordman]

Thanks,
They were one I found online and you are correct they charge 1% Min 20p max £2 and no subscription costs

So for my purposes £2 a month charge against the rent of around £700 is a good deal for the notification of dd cancellation

Good to know you found them OK

 

[Roughcut]

I've not used GoCardless myself but I've heard of quite a few satisfied users of the service.

 

[Myfordman]

Just a followup on this
I opened a GoCardless account and the customer service in answering my few queries has been excellent
I then set up a dummy DD from myself to the account with two consecutive payments
the first went through fine and then , I cancelled the DD with my bank account and GoCardless informed my in two separate emails that the DD was cancelled as a payer and the other alerted me to the cancellation as a payee. So everyone informed.

Just what I wanted to happen so that if my future tenant arbitrarily cancels their DD I will know about it the following business day.

NB not trying to advertise their service in any way just a happy customer. Hope it might help someone else.

 

[GeordieStew]

Yeah. On a professional basis, very good. We use their API for managing 3000+ customers. No issues at all.