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What is Direct Debit reversal?

A Direct Debit reversal takes place when a customer disputes a payment and the money is returned back into their account. Unlike an ‘insufficient funds’ or ‘account closed’ bounceback, a Direct Debit reversal can only take place after a transaction has already occurred. The Direct Debit Guarantee The Direct Debit guarantee is a set of […]

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A guide to advance notice for Direct Debits

Advance notice is one of the fundamental protections afforded by the Direct Debit guarantee. It ensures that you provide your customer with a notification when: They’ve signed a Direct Debit mandate Payment changes are made to the account Date changes are made   Failing to provide advance notice will put you in breach of the […]

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Bacs processing calendar 2019

Bacs have released their processing calendar for 2019, giving organisations the info they need to plan Direct Debit transactions around holiday periods. The greyed-out boxes show the non-input and non-processing days. On these days, Direct Debits won’t be processed, so you will need to allow more time for Direct Debit transactions or organise your Direct […]

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Swim school operators: should you be using Direct Debit?

If you manage a swimming school or run swimming lessons as part of your leisure operation you’ve probably already considered Direct Debit. Everyone else is doing it, right? But is Direct Debit the best collection avenue for your business? Do you even want to migrate to Direct Debit? Your first question might be… Why should […]

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Unscrambling the membership management puzzle in the digital age

Those of us who’ve been in the fitness game for a long time might remember the faff of administrating membership payments. I certainly do. I remember the arduous setup. The gruelling form-filling. The cumbersome management processes. The storage snags. Hooray for digital, I say. At DFC, Direct Debits are our forte. But we certainly wouldn’t […]

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How fintech is revolutionising the financial world

The word ‘fintech’ pops up regularly in conversations centred on innovation, trade, finance and disruptive technologies. But don’t be fooled, it’s not just a buzzword. According to Accenture investment in fintech increased from $930 million in 2008 to more than $12 billion by early 2015, and is growing by the hour. What exactly is fintech? […]