WHY USE PAPERLESS
DIRECT DEBITS?
IMPROVED CASH FLOW
By allowing the set up of Direct Debits before a student is on campus, as well as no longer requiring staff to re-enter manually submitted bank details, the risk of missing first payment dates is decreased. There is also the option to move the first instalment date forward.
REAL-TIME VALIDATION OF BANK DETAILS
The system ensures that validation is carried out against the latest BACS-supplied sort code data to ensure that the sort code is valid, as well as capable of processing Direct Debit payments. The account number is also validated via a modulus check, which is determined by the sort code, to ensure there is a negligible instance of incorrect details being entered.
REDUCTION OF STAFF WORKLOAD
There is no requirement for staff to enter payer account details, providing a significant reduction in workload around already busy times of the academic calendar.
PAPERLESS DIRECT DEBITS (PDD)
The solution validates both the branch sort code and account number without the requirement for third party software and collects all relevant details for the set up of a Direct Debit mandate.
The system can interface with any existing Direct Debit Management System, as long as there is a way in which to import data to set up mandates and associated payments. The system can be used either stand-alone or in conjunction with our other solutions.
For those Higher and Further Education Institutions that handle Direct Debits manually, the implementation of Paperless Direct Debits will have immediate and significant long-term benefits.
LONG TERM BENEFITS
BACS-COMPLIANT
The Paperless Direct Debits system is compliant with all BACS requirements for online Paperless Direct Debits. WPM Education guarantees BACS compliance with all solutions and will make any required amendments within the annual fee.
FAST DELIVERY TIME
Paperless Direct Debits can be rolled out quickly. WPM Education's primary objective is to make the set up, integration and maintenance as "painless" as possible. Therefore the set up process has been streamlined to require as little input from the Institution as possible while ensuring all relevant issues have been addressed. WPM Education aim to have Paperless Direct Debits up and running within weeks, dependent on your bank's sign-off on the screens.
PAF INTEGRATION
All WPM Education solutions now offer the optional integration of PAF (Postal Address File) data to allow customers and administrators alike to make use of postcode lookup and validation processes. This allows time to be saved when entering addresses as well as ensuring less ongoing administration related to incorrect address data.
IMPROVED CUSTOMER SERVICE
Students or parents can, from the comfort of home, set up Direct Debits without the requirement to send off a form, visit or contact the Institution. Any mistakes are also spotted by the validation meaning less chance of the Institution contacting them at a later date to chase for payment details, providing a more streamlined and efficient service throughout.