Direct Debit Blog

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Customer Churn: What Is It and What to Do About It

Customer churn, also known as customer attrition, customer turnover or customer defection, refers to the loss of customers, clients, users or subscribers from your business.

Customer attrition is split into two: voluntary and involuntary churn. Voluntary churn describes customers who have ended their relationship with you of their own accord, for example by not renewing a contract, ending a membership, cancelling a subscription, stopping recurring Direct Debit payments, closing an account or even by deciding to shop elsewhere for their weekly groceries.

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Ryan Gray

in Charity Direct Debit

on 28 February 2019

Charity Direct Debit: Taking Donor Payments Safely

Regular, reliable donations are the lifeblood of any charity.

Without them, the fundraising mission would be a never-ending mountain to climb.

With them, your charity gets predictable income to reach the summit with the confidence, certainty and consistency you need to plan, promote and prosper.

How you accept these payments will have a direct impact on the success of your ongoing campaigns. Here we explore how using charity Direct Debit is the best option for collecting donations safely, reliably and regularly.

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Ryan Gray on 18 February 2019

Fundraising Strategy: Building a Campaign from Scratch

republished on

No matter if you’re planning on starting a new charity, have recently launched one or are an existing charity keen to revamp your fundraising strategy, you’ll need a high impact plan to generate funds.

Read on for our fundraising for charities step-by-step guide.

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Ryan Gray

in Business Plan, Charity Direct Debit

on 13 February 2019

Your Charity Business Plan: Start Fundraising Today

For those harbouring dreams of becoming a change-maker, setting up a charity is the ideal route to making a difference.

You’ve identified and researched a pressing problem. You’re confident you can offer a unique solution. Now you need to attract the funds to make it happen.

To do so, you can join the 168,000 existing UK charities aiming to bring about impact and deliver change.

The latest Charity Commission figures show that together, these organisations raised over £77 billion in the year up to September 2018. Of these, just 1.3% raised over £5 million with 38.8% raising between £0-10,000 over the year.

Whatever financial ambitions you have for your charity, modest or magnificent, you’ll need a robust charity business plan to establish firm foundations.

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Starting A Charity: A Simple Guide

According to the latest figures, there are approximately 166,000 charities in the UK, with 132,000 of those in England. In the past ten years, 5,000 new charities have been registered each year, however a similar number merge or close down.

The charity sector is made up of organisations of varying sizes, just like in business. Very large charities, with an annual income of over £1m, account for 8% of the sector. However, more than 80% of charities have an income of less than £100,000 and approximately half of the total number of charities have an income of less than £10,000 a year.

Charities are an important part of the UK’s economy, contributing over £12bn a year, the same amount as the agricultural sector. Charities have a total annual income of nearly £44bn, and employ 827,000 people.

It’s no surprise then, that the charity sector is strictly regulated with specific rules and guidelines that every charity must adhere to. If you’re considering starting a charity, then read on for our simple 10-point guide.

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Direct Debit for Home Care Services: What's Involved?

If you run a domiciliary agency that offers care services for the elderly in their own homes and are switching to taking payments using Direct Debit, then this handy checklist will help you.

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Using Direct Debit: What Do Our Customers Think?

When you sign up to a new supplier, reassurance that what you see on a website and hear on a phone call is what you’ll get is vital.

And if their specialist service isn’t one you’ve used before, it’s even more important that you feel confident taking the plunge.

So if you’re thinking of using Direct Debit for the first time, we’re sharing insight from businesses just like yours who are already enjoying its flexibility, reliability and simplicity.

Read on to discover how choosing FastPay will give you the peace of mind that you’ve made the very best decision for your business and your customers.

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Ryan Gray

in cash flow, Setting Up a Business

on 22 January 2019

5 Tips to Help Your Cash Collection Process Run More Efficiently

Your dream when you set up your business was to be dynamic, exciting, well-organised and profitable. Instead, if you’ve noticed that your time, or that of your staff, is predominantly exhausted by tedious, repetitive administration, then it might be time to overhaul some of your operational processes.

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Ryan Gray

in Business Plan, Home care sector

on 18 January 2019

Your Domiciliary Care Agency Business Plan: A Simple Guide

If you’re considering setting up a care agency that supports people in their own homes, then the first task is to write a detailed business plan.

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Service User Numbers: Getting Access to Direct Debit

While researching the ins and outs of Direct Debit, you may feel like you’re entering uncharted terminology territory. Strange names, mysterious acronyms, peculiar phrases.

They’re simpler than they might sound. Learning about them will empower you with knowledge and help to ease the decision-making process.

Once you’ve got to grips with bureaux, BACS and everything in between, you’ll have a clear understanding of the inner workings of this secure, reliable and automated method of accepting payments.

Here we’ll demystify and simplify one particular acronym: SUN. Read on to discover how a service user number will play an essential role in your financial streamlining plans.

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