Direct Debit

What is Direct Debit?

Direct Debit enables companies to collect payments from regular debtors on time. By lodging a direct debit file with HSBC, your customer's accounts are debited and your account bulk credited. This way you receive your money on time and your customers enjoy an easier way of making payments.

This service is ideal for regular receivables such as bills, premiums or membership fees.

Features and benefits

• Choose to submit your transaction instructions by HSBCnet
• Reports are available online and via HSBCnet
• Automate bulk collections electronically, at the touch of a button, to minimise administration effort and costs
• Convenient and flexible – single, regular and bulk payments received
• Improve cash flow and working capital management by accelerating fund availability of receivables
• Comprehensive reports provide valuable management information