If you make regular collections from many customers, you may benefit from using Direct Debit. The money is then paid directly into your business account.
Quick, secure payment
Direct Debit means the amount claimed is transferred directly from your customer's account to your business account. Both the customer and you will benefit from quick, secure payments. On top of this, you can reduce the administration connected with collections and incoming payments.
Better liquidity management
As your business has a good overview of incoming and missing payments, your reminder procedures can be streamlined. As you decide the payment date, you also gain a better overview of the business's total liquidity.
For the Business, Direct Debit means
- Fewer administrative tasks, because payment is automatic
- An efficient reminder procedure, as you have an overview of missing payments
- Easy, electronic reimbursements to customers
Using Direct Debit
To become an originator, you must sign a Direct Debit originator indemnity and be bound by the terms of the Direct Debit Guarantee (this applies to UK only).
Manage collections via Collection Service
Direct Debit is possible through the Collection Service module in Business eBanking. The solution can be integrated with Microsoft Excel, so as well as setting up individual collections online, you can also send spreadsheets of collection data to the Bank.
Using Collection Service
If you wish to make Direct Debits through our Collection Service module, you must have a current account with the Northern Bank and a Business eBanking agreement which includes the file transfer module.
Terms and conditions apply - ask us for details.
View our Fees and Service Charges Explained (PDF)