How to be a recipient of a Dircet Debit?

[gadgetman]

I'm going to be renting my house out and would like the renters to pay on direct debit.

The question is how do you do this as the recipient? Is it even possible for individuals to do?

[bogeyman]

I'm going to be renting my house out and would like the renters to pay on direct debit.

The question is how do you do this as the recipient? Is it even possible for individuals to do?

Use a management agency!

[Moscow Mule]

You have to be a company, not a fly-by-night landlord.

[darmstadt]

Open an account in Germany, direct debit is a piece of pie here...

[Tingles]

Standing order is ok....

I'm not sure you'll be allowed to have payment via a DD.

Even small / medium sized companies have issues setting these up.


T

[BA to the Stars]

The process from when I used to work for a major bank dealing with such things would be:

- You need to approach your bank.
- They will then need to gain approval for you to become a direct debit originator.
- You must follow very strict rules including the design of the direct debit mandate (which necessitates the direct debit logo being an exact size).
- You will need to provide an idemnity to the bank in order that if they have to reimburse your client under the direct debit guarantee, they can then obtain reimbursement from yourself.

If you are wanting to set up a direct debit for just one customer, then your bank will politely tell you "no chance" (or depending on the bank they may forego the politely bit).

Either using a management agency or get the tennent to set up a standing order (the difference being that the tennent can cancel / amend a standing order without your agreement).

HTH

[Sausage Surprise]

The process from when I used to work for a major bank dealing with such things would be:

- You need to approach your bank.
- They will then need to gain approval for you to become a direct debit originator.
- You must follow very strict rules including the design of the direct debit mandate (which necessitates the direct debit logo being an exact size).
- You will need to provide an idemnity to the bank in order that if they have to reimburse your client under the direct debit guarantee, they can then obtain reimbursement from yourself.

If you are wanting to set up a direct debit for just one customer, then your bank will politely tell you "no chance" (or depending on the bank they may forego the politely bit).

Either using a management agency or get the tennent to set up a standing order (the difference being that the tennent can cancel / amend a standing order without your agreement).

HTH

Him out of the Pet Shop Boys?

[Advocate]

The client can cancel a DD at anytime!

A standing order is exactly that; an order to the bank saying "PAY JOE 20GBP EVERY MONTH"

A direct debit is giving permission for a company to debit your account by an arbitary amount.

SO is a push.
DD is a pull.

/The factual accuracy of this post may vary!

[gadgetman]

Thanks for the replies, Standing Order it is then!

FWIW I've found management agencies a complete waste of time and money.