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Home : Kenya
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| Direct Debits |
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What is Direct Debit?
Barclays Direct Debits service is an electronic system that provides your organisation with a cost effective means to collect subscriber dues with minimum effort. The entire process is seamless and electronic.
Benefits
The key benefits of using the Barclays direct debits are:-
- Quick access to our large retail customer base and large branch network. - Due to our large retail customer base we would be able to offer you quick access to a large portion of your customers and give you quick and accurate response on collection instructions to our mutual customers' accounts.
- Quicker access to cleared funds - as a large percentage of your customers will be Barclays customers, a large portion of your funds would be cleared funds within the period of only one day after processing.
- Quick response on errors - Barclays has put in place an automated verification system to verify the details on the collection instructions for BOTH Barclays and non-Barclays customers. You will therefore get quick feedback if there are errors in your collection file.
Other benefits of using the Barclays direct debits include:
- Greater control of collection process
- Reduced debt collection/ administration costs
- More predictable cash flows
- Reduced collection errors
- Increased customer loyalty
The process of Direct Debit
There are four parties to the Direct Debit these include:
- The Originator Your organization
- The Originator's Bank Barclays
- The Paying Bank the Payer's bank (Barclays or other banks)
- The Payer Your customer
Set-up Process upon sign up
- Barclays Bank will install software
- Register and issue Originator Identification Number (OIN).
- Payers are recruited once they fill in a Direct Debit Authority (DDAs) and forward it to your organisation.
- Your organisation then forwards the DDA to Barclays for verification who will input DDA into database, verify signature and retain this copy of DDA.
Collection Process
- You will transmit encrypted collection files to Barclays Bank as per the maturities of the DDAs.
- On receipt of a collection file Barclays Bank will carry out verification on both Barclays and Non-Barclays items
- After verification, unmatched items will be removed and a net credit passed.
- A report will then be issued to your organisation, as well as a reconciliation Extract.
- Unpaid/unapplied items are then debited back the following day (for Barclays customers)
For non-Barclays items, the debits are forwarded to the other banks via the clearing house and you will then receive an Uncleared Effects credit. A report will then be sent to you and any Unpaid/ Unapplied items returned within the clearing window (three days).
For more details contact our cash management team on:-
Tel: 246281/214822/218207
E-mail: bbk.cash-management@barclays.com
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