Benefits of Direct Debit
You’re the master of keeping fit and healthy, keep your bank balance healthy too with Direct Debit payments.
Keeping track of your payments stressful? Are too many spreadsheets causing you a headache? Here’s why using direct debit collections can reduce your admin time and increase your cash flow…
Here’s why and how direct debits can work for you and your business
1 – Just as you want your members to make reoccurring visits, you also want them to be making reoccurring payments. Direct debit payments are set up to be requested on the same day each month meaning payments aren’t dependent on attendance and your cash flow will be sure to increase!
Reduces time spent on admin
2 – Direct debit collections are automated and this means you no longer have to chase members down for cash payments or try and keep a record of who’s paid what with standing order. This means you no longer have to keep track of when someone joined or paid last, it’s already taken care of!
3 – Simply put, using direct debits as your main collection method will save you money. It’s very cost effective, especially in comparison to card payments and other collection methods and in the amount of time you’ll save tracking payments and contacting members.
More Successful Payments
4 – Direct debit payments have high success rates and this is because you’re not depending on members bringing in cash or remembering to make payments on the due date. Direct debit’s are set up using bank details, as opposed to card details, which rarely change and even if they do, the current switching process will move the direct debit over to the new account with little or no disruption.
Direct debits are flexible
5 – So you’re having a general price increase or a member wants to change the date they pay on each month? With direct debits, this is no hassle. Unlike standing orders, the member doesn’t need to contact their bank and no paperwork or signatures need to be organised. With a few clicks, the payments you require can be requested as and when suits you and your member.
6 – Budgeting is a part of every business and is only made possible with dependable payments. With regular payments set up to be automatically collected at the same time each month, this won’t be a problem again.
7 – Being able to streamline the payment process from start to finish will save you time and stress. We offer an online joining service where members can join from anywhere and set the payment up there and then. No paper trails, no messy filing cabinets and no fuss. All your information, in one place and payments set up within minutes.
8 – Find a drop off of payments when the sunshine comes out? As well as being a convenient payment method for both yourself and your members it also means that if a member does misses a class or two, you won’t miss out on your fees. Regular direct debit payments lead to commitment from members and students who are much more likely to keep attending and stay motivated and as we know, the more they attend the more likely they are to succeed and reach their goals.
SimplyCollect can help you both gain new members and manage your current members with a comprehensive and easy to use software package that can allow new members to sign up online and current members to track their progress – all whilst managing the membership administration, direct debit payments and arrears. To find out more about how we can help grow your business and manage your current workload, contact us on 0330 223 3152 or at email@example.com or find out more here.
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