Streamline the collection of Debit Orders
What is a debit order
Debit Orders are a method of collecting money from a bank account with the express permission of the account holder. They are most commonly used to collect monthly subscriptions, premiums or repayments. Netcash offers a complete Debit Order Collection system, enabling you to collect recurring payments from your customers without the hassle or time-consuming admin.
Simple and efficient ways to collect money
Flexible collection service
We offer a variety of services to suit your collection needs, including recurring and once-off debit orders as well as Same-day or Two-day services.
Our Electronic Mandate solutions ensure that you obtain your clients authority to debit in a compliant, secure and convenient manner
Get paid sooner
Enhance your cash flow by receiving up to 90% of your collection value paid on the day the debits are processed.
Track who has paid you and analyse your debit order collections using our comprehensive reports and statistical data.
Comprehensive collection facilities
Our debit order collection service enables collections from cheque, savings and credit card accounts.
How Debit Orders Work
- The account holder signs an agreement with the service provider and provides them with contact and bank account details. This is known as a debit order authority or mandate.
- The service provider uses a bank or third-party processor like Netcash to deduct the agreed amount of money from the account holders bank account.
- Either party has the right to cancel the debit cancel the debit order but this does not cancel the terms of the sale or service provided.
What are the benefits of debit orders?
Increases cash flow
Control over when you get paid means you improve your cash flow. Getting paid on time means your cash flow will be automatically more consistent. A positive cash flow results in not needing to worry about putting any business plans and operations on hold, you can just focus on growing your business.
Safe and convenient
Debit orders reduce the need to deal with cash and improve security as all debit order processes take place electronically. Customers do not need to remember to make manual transfers. Funds are automatically deducted from their bank accounts, which is great for recurring payments and ensures you are paid on time.
A comprehensive payment report is available to track who has paid you and analyse your debit order collection success rates.
Ensures payments are made on time
Debit orders decrease the likelihood of missed or skipped payments and payments will be received on the same day every month.
More options to recover your Debit Order unpaids
Offer multiple payment options for unpaid debit orders with an SMS or email payment link sent directly from your Netcash account.
Netcash has been a great partner to Viva Gym, having assisted with our debit orders since we opened our first Gym. Every Netcash team member we have interacted with has been helpful and responsive, and their online systems are easy to use. Integrations are also straightforward – overall, highly recommended.
Netcash provides us with seamless management of our debit orders. Their user-friendly system allows us to efficiently handle and deliver top-notch service to our clients. The support team is consistently responsive and supportive whenever we need assistance. We have been relying on Netcash’s services for over 15 years, and their exceptional service has prompted us to refer numerous clients to them.
Netcash Software Partners
Our Software Partners have integrated our payment functionality into their software to simplify the customer experience. The integration provides customers with seamless, secure and accurate data transfer.
Frequently asked questions
Netcash is completely online and in the cloud, meaning no software installations or updates. You can access your account from any PC or mobile device provide you have internet access.
There is no onsite training requirement, our quick start guides, and relationship consultants will help you get started.
A stop order is a scheduled payment where you instruct your bank to make several future dated recurring payments. A debit order is where you would give instruction to a third party to deduct funds from your bank account.
Two-day debit order: A standard debit order that is processed on weekdays (Mon- Fri) with an authorisation cut-off time of two days prior to the action date. Funds are available on the action date.
Same day debit order: A premium debit order service which can be processed Monday to Saturday with an authorisation cut-off time on the action date. Funds are available the following working day.
This is a shortened name which is registered at the bank and reflect on a customer’s bank statement to identify who has debited their account.
No, a debit order could be unpaid for several reasons including but not limited to; the account holder having insufficient funds, an account being closed or a dispute meaning that the account holder requested the payment to be stopped.
If you are not able to pay your debit order because there are not enough funds, your account will be charged a penalty fee by your bank as well as late fees, and interest. Debit orders that bounce can negatively affect your credit profile and your credit history.
Netcash debits bank accounts on behalf of their clients. Netcash is mentioned because we are the processer of the debit order that was deducted from your account.
The debit order fee varies from bank to bank. Some banks charge a flat fee for all transactions on a bank account and others charge for each transaction that is processed to your account.