When it comes to the festive season, many of us tend to whip out the plastic and pay for gifts & goods that way. If you’re a bit of a shopaholic like me (especially when it comes to the Boxing Day sales), the credit card might take a bit of beating - more than me at those boxing classes I'm paying for each fortnight.
So when it comes time to deduct funds from the same card for my gym membership (which isn’t getting much of a workout this time of year either - I’m more pudding than push-ups, if I’m honest), sometimes that payment may fail due to a lack of funds.
1. Change the Funding SourceOne solution here is to direct debit membership fees from your client’s bank account instead. After all, everyone gets paid into their bank account, so this is often a more reliable funding source for those smaller, recurring amounts such as membership fees. Ezidebit, of course, offers both options as a payment source for direct debits - so why not discuss this with your clients as an option? The fees for debiting from bank accounts are generally lower, too!
2. Change the DateFollowing on from our first tip, why not offer clients (who experience payment dishonours) an adjustment to their payment date?
The day after they get paid by their employer is generally a good date to take a payment for the recurring subscription or membership they have setup with you, as their account is more likely to have sufficient funds at that point in time.
3. Send a Reminder
Ezidebit allows you to send SMS reminders prior to the payment deduction taking place. In most cases, you can set this up on a per-client basis - meaning you can turn it on just for those clients that frequently experience payment dishonours (note: this functionality depends on your setup & whether you’re using any integrated software providers).
4. Educate, Educate, Educate!
We here at Ezidebit often get calls from your clients querying a charge, with the question “Who is Ezidebit and why are they billing me?” being a popular one.
When signing clients up to your services, remember to explain and educate your clients about your payment processes - and be sure to explain who processes your direct debit payments for you (that’s us). This keeps your clients happy and means less time for them spent making enquiries.
Ezidebit has resources and FAQs available to you to use, such as signage and brochures, which you can display at your business to help educate your clients about the payment process.
Have a great Christmas!