Please note: Direct Debit functionality is currently only available to those client accounts customers that bank with Barclays, use PTX (Bottomline Technologies) or Mosaic as their collection intermediary. If you are not banking with Barclays or using either of the currently supported bureaus, but are interested in utilising the direct debit functionality in the future, please register your interest with our customer services team.
One of the main reasons reported by Letting Agents for losing clients usually concerns issues with late rent payments from the tenant. This Agency Cloud process allows you to immediately act on outstanding balances and begin the chase arrears process to ensure that rent is collected as quickly as possible.
Direct Debits allow you to have more control over your ability to chase arrears. The ability to chase arrears becomes considerably more proactive and rather than having to wait to see if funds clear into your account, you will receive a notification when a Direct Debit is cancelled. This means you will know on the rent due date that you are not receiving the rent and can chase the same day, allowing you to take control of your rent collection/credit control processes.
Setting up Direct Debits is controlled through the tenancy screen and the Journal will keep a log of key direct debit activity. When the tenancy involves more than one tenant, a Direct Debit instruction can be set-up for each tenant. When the rent is due, this instruction will automatically appear in the Manage Direct Debits screen as ready to collect.
Direct Debits have never been more secure. From an Agency standpoint there has always been some scepticism over the long-term security of payments taken by Direct Debit and that was understandable. However, new practices employed by banks around fraudulent reclaims have made Direct Debits more secure and reliable, making the case to adopt a new, potentially game-changing process, that much more compelling.
- Please contact our Service Desk to enable the relevant settings in configuration. Support will also be able to include training on how to create & send Direct Debit mandates for use.
- There is a cost made by banks to the Agent when using Direct Debit – please confirm these with your individual bank directly.
- Direct Debits can only be set up from UK accounts.