Direct Debit

HSBC allows you to lodge a direct debit formatted file with HSBC. Your customers' accounts are debited, and then your account is bulk credited.

This service is ideal for any business that receives regular payments from the same debtors. By using the Direct Debit service, you receive your money on time and your customers enjoy an easier and more convenient way of making payments.

Direct Debit provides a number of additional benefits for your business:

Debtors always pay on time
You no longer have to rely on 'the cheque is in the mail'. Debtors always pay on time (subject to availability of funds). By way of example, in the insurance sector, the regular collection of premiums through direct debit ensures timely renewal of policies and a low likelihood of their lapsing.

Improved Cash flow
You can improve your cash flow because Direct Debit supplies you with a date when funds will be available. Debits can be for variable amounts or frequency to align with your known billing requirements.

Reduced paperwork and preparation time
You will no longer have outstanding invoices to reconcile and chase. Funds are taken directly from your customer's account and paid into your company account. This not only means less paperwork but minimises your preparation time and the number of trips to the bank.

Like to know more?

• Email us to schedule a contact time to discuss your business needs.
• Call us on 1300 300 437 from 8:30am to 5:30pm, Monday to Friday