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Instalment Collection Service
ICS
The Instalment Collection Service is a non-credit based method of collection that is quick and easy to set up. ICS is able to achieve high rates of collection at a cost often very much less than in-house systems.
Administration is significantly reduced allowing businesses more time to concentrate on their core activities and using the optional default service the collection on a minimum term agreement is enhanced.
Direct Debits enable time periods to be unlimited and amounts collected to be variable, without the need for customers to re-sign new documentation. This means that once the agreement is signed it can roll indefinitely. Collections are possible on every working day of the month allowing immediate advice of failed payments.
The Direct Debit method gives greater flexibility than Standing Orders and is safer and easier than handling cash or cheques.
If you require a minimum term on the agreement then access to our specialist debt recovery company, Harlands Services Ltd. allows businesses to pursue customers that default on payment, giving greater certainty of income. The service is tailored to individual requirements and our dedicated team is able to offer expert advice in the field of payment administration.
Key Features:
- Collections by Direct Debit
- Non-credit based High collection rates achieved
- Flexible and customer focused
- Optional default service (MRP)
- Access to a dedicated payment help line
The Instalment Collection Service will provide the following services:
- Provision of compliant membership agreement template
- Input details onto our system and carry out a modulus check for validation. E.g. are the bank account details correct and do they support Direct Debits
- Electronic instruction to bank to set up DDM
- Letter to the client confirming monthly instalment amounts
- Monetary collections from the clients account
- Second submissions to the clients account if refer to payer
- Letter to client informing of a second submission, 7 days later (contains help line number)
- Notify the club within 24 hours of receipt of cancelled mandates and failed second attempts of a refer to payer situation
- Provision of twice monthly reports outlining payments and member status
- Club Policies are agreed at the outset and are strictly adhered to, feedback is given to the club
- Dedicated member help line Automatic Renewal