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Direct Debit Initiation
What is Direct Debit?
The Direct Debit initiation service enables you to collect payments from regular debtors directly and when due, whilst providing a simplified payment process for your customers. By lodging a direct debit file with HSBC, your customer's accounts are debited and your account bulk credited. This service is ideal for regular receivables such as bills, premiums or membership fees.
You must be approved by HSBC prior to initiating Direct Debits.
Features and Benefits
- Minimise administration effort and costs by automatically initiating bulk collections
- Improve cash flow and working capital management by accelerating and taking control of your receivables
- Comprehensive reports to provide you with valuable management information
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