Using Direct Debit

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It's easy to work with monthly Direct Debit payment within SchemeServe. See the instructions below to get started.

Please Note: You can use this service to debit bank accounts in the United Kingdom only. To debit accounts in other regions, please contact us.

Enabling Direct Debit

Enabling Direct Debit

To start Direct Debiting your customers, you'll need to enable the service for one of your schemes. Follow the steps below...

  1. Login with your Administrator account (this is the account you used to first sign up to SchemeServe).
  2. Navigate to Admin >> Schemes
  3. Select the scheme for which you'd like to enable Direct Debit using the drop-down list in the top left corner.
  4. Ensure that the "Auto On Cover" box is ticked.
  5. Ensure that the "Take Payment Automatically" box is ticked.
  6. Ensure the "Monthly" tickbox under Payment Types is ticked.
  7. Tick the "Collect monthly payments by Direct Debit?"
  8. In the drop-down list labelled "Resend Document on DD Schedule Changes?" choose a document you'd like to generate and email to customers whenever any changes are made to their bank details or debiting schedule. For details of what Direct Debit documentation you need to send to your customers and when, please talk to your bank.

That's it, Direct Debit is enabled!

Note that if when editing your scheme you choose for a deposit to be taken, this will be collected by Card Payment, and any balance payments collected by Direct Debit.

How monthly instalments are calculated

If there is NO deposit; 
Monthly Amount = Premium DIVIDED BY (Policy Term Length in Months MINUS 1)
If there is a deposit; 
Monthly Amount = Premium MINUS Deposit DIVIDED BY (Policy Term Length in Months MINUS 1) 

If for instance your scheme is set-up to charge a deposit of 8.33% of the premium with a policy term length of 3 years (36 months), the calculation for a new policy might be:

Deposit = Premium * DepositPercentage
Deposit = 1440 * 0.0833
Deposit = 119.952
Monthly Amount = Premium - Deposit / (PolicyTermInMonths - 1)
Monthly Amount = 1440 - 119.952 / 35
Monthly Amount = 36.67
Total Amount to Pay by Direct Debit = 1440 - 119.952 
= 1320.048 

Collecting Bank Details for New Cases

An example payment details collection page

Once you have enabled Direct Debit for your scheme, bank details will automatically be taken from customers during the normal Get Quote process.

Bank details are taken typically when a quotation goes On Cover and becomes a Case.

If this happens later, perhaps when a sub-agent Starts Cover or your direct customer returns to your website to proceed with a quotation, their bank details will be taken at the appropriate time automatically.

Managing Debiting Schedules

The Money Tab after creation of a debiting schedule.
The Money Tab when no debiting schedule has yet been created.
The Money Tab during creation of a debiting schedule.

To manage Direct Debit schedule for any given Case, use the Money tab on the View Case page. Just search for the Case you wish to view, then click the Money tab.

From here, you can easily Create New Schedules, Change Payment Dates or Amounts, or Cancel Existing Schedules. (See the screenshots on the right.)

Note: Any changes you make will generate and email to your customer a fresh copy of the document you chose when Enabling Direct Debit (above) and will cancel and re-setup the Direct Debit instruction with your customer's bank.

Reporting and Accounting for Direct Debit Payments

To report on a case by case basis, use the Money Tab (above).

To view reports for your entire scheme, run a Ledger report.

See Accounting with SchemeServe for more detailed instructions.

Auditing Changes to Direct Debit Schedules

To monitor the set-up, cancellation and modification to direct debit schedules by yourself or your staff, use the Activity tab when viewing any Case record.

See Also