Direct Debit is a solution designed for executing and managing recurring payments and standing orders. Debit instructions are initiated as agreed without the customer having to come into the bank to pay each time payment is due. With Direct Debit service, your clients accounts are debited with amounts due for services rendered. This direct debit feature is ideal for key distributor/dealership Schemes, utility bills payments, etc.
Direct Debit can be set up for corporate customers who provide services that require periodic payments (say monthly) to their clients.
These customers in most cases provide services and want to get timely value for services provided, thus eliminate defaulting consumers or late payments. e.g. subscription payments, bill payments, post paid services (Telecoms, Utilities, etc)
Features of Direct Debit
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Bills collection is automated for customers of the banks connected to the switch network. |
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Attempts to debit the customers account repeatedly until a successful debit is recorded or for a pre-configured number of times. |
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Bill presentment: subscribers can be reminded of outstanding bills while carrying out transactions from any device connected to the InterSwitch. |
Direct Debit Functionality
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The solution can be for either constant amounts or varying amounts.
Where the amount and date is constant, a schedule is set up once. For varying amounts, the schedule will be sent to the bank as at when due. |
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Direct Debit automatically debits one or many accounts and credits a single account (the Corporates account) with the funds based on agreed mandates. |
Benefits of Direct Debit
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Allows corporate customers collect their funds with ease as the amounts to be collected are automatically credited into their accounts as agreed. |
Requirements
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Direct Debit Mandate from Customers authorizing direct debits on their accounts. |
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Debit file to be sent to the bank in a specified format |
For further enquiries on any of our ebusiness services, please contact:
E-Business Unit
Zenith Bank Plc
Plot 84 Ajose Adeogun Street
Victoria Island, Lagos.
E-mail: zenithdirect@zenithbank.com
Telephone: 01-2787000, 01-2927000, 01-4647000, 0700ZENITHBANK |
