Head of Operations
Posted 1 month ago
Many of our clients wish to pay for annual services by instalments, but they can be very forgetful (or lazy, procrastinating or are scared of money) in setting up a standing order. We investigated becoming a Direct Debit receiver, but you need to have a turnover in excess of £500K and have a lot of transactions to qualify. We were then offered a Subscription Manager service by our bank, but with fees this would cost at least £30/month, excluding the £300 in set up fees. We then stumbled across a similar service that PayPal offers, at a much lower cost. They refer to them as Subscription plans. I pass this on for info in case anyone is looking at a similar arrangement to offer your clients an instalment payment service, and find repeatedly asking them to set up a standing order tiresome.