To receive a direct debit, you must first establish an agreement with your customers that authorises you to withdraw funds from their bank accounts. This typically involves providing them with a direct debit mandate form, which they need to complete and sign. Once the mandate is in place, you can initiate withdrawals on agreed dates for the specified amounts. It is important to ensure that all parties are aware of the payment schedule and any potential fees associated with the transaction.

Why is this page important?
Understanding how to receive direct debits is vital for businesses that rely on regular income streams. It streamlines cash flow management and reduces administrative burdens associated with manual invoicing and collections.

Next Steps:

1. Navigate to Accounts in the left sidebar.

2. In Account actions dropdown, select Deposit funds.

3. Select Direct debit tab, and provide your bank details.

4. Review the Terms and Conditions, then select 'I accept the terms and conditions' checkbox.

5. Select Confirm button

6. In your bank account (provided in step 3), check the small account deducted to validate your ownership. The exact amount needs to be provided in the Account deducted field.

7. Select Verify amount button.

8. Once the verification completes, you can use this direct debit to make payments.

Related FAQ Articles:

• What is a Direct debit ?

• Where can a user view the Global Business Account details?

• How do I create a payment?