What are the benefits of DebiCheck for the service provider?
Collection certainty
Collections are always validated against an approved mandate held in a mandate register at the consumer’s bank. Approved collections have less chance of being reversed or disputed.Early collections
DebiCheck debit orders are processed as a first priority in the early morning after credits have been processed.Tracking
Both DebiCheck and RMS have a tracking functionality which continues to search for the availability of funds (should all the other checks be passed) for a specified period of up to ten days. Should the funds become available in this period, the consumer’s account will be debited, and the collector’s account credited.Disputes
Not all DebiCheck transactions are subject to reversal in the event of a dispute request by the consumer.Suspensions
Service providers are notified of all DebiCheck mandate suspensions at the time of suspension and can proactively engage the consumer with a view to unsuspending the mandate.How do service providers participate in DebiCheck and what should they have in place?
Any service provider who wants to participate in DebiCheck as a collection method should engage with their sponsoring bank who will provide them with all the necessary support and information, such as technical specifications and rules for participation in DebiCheck.