Traditionally, the door to Direct Debit was closed for accepting regular payments for things such as nursery and school fees.
With insufficient turnover to meet the banks’ strict criteria, small business managers and headteachers had no choice but to rely on less efficient methods such as cheques, cash and Standing Orders.
But with the advent of Direct Debit bureaux and their expertise with Bacs transfer times, it’s now possible – and remarkably easy – to cast aside these outdated ways of collecting cash.
A bureau such as FastPay can take care of everything, leaving you to concentrate on your staff, pupils and demanding workload.
But how can parents make a bank transfer using Bacs? Here we’ll explain the ins and outs of accepting fees via the most secure, reliable and flexible system available.
Read on to learn about Direct Debit timings and how you can be up and running within just 24 hours.