What is GoCardless?
GoCardless offers a bank-to-bank payment method that uses Direct Debit, ACH and PAD to automatically collect payments directly from your customer's bank account. You can collect Direct Debit payments from over 30 countries including UK, Eurozone countries, US, Canada and Australia, all in your home currency.
Paying by Direct Debit is a great option for your customers. Once an authorisation (Direct Debit instruction) is in place, your customers no longer need to action future payments saving them time and hassle.
Invite your customers to complete the simple authorisation through an email or link which you can include on your MyAccount customer portal, website, or on your invoices. Customers only need to enter their payments details once, and that’s it. You’re authorised to collect all future payments without further action from your customer.
The amount you charge and when you charge can be fixed or flexible. In fact, it’s linked to the amount and due date on the invoice you’ve sent your customer. Payments happen frictionlessly in the background.
GoCardless is the perfect payment solution for many businesses. However, there are some limitations with their service. They aren’t able to:
- Let you take credit card payments - however you can use another payment provider alongside GoCardless.
- Let you accept instant payments - Direct Debit payments take 3-5 working days to clear.
Payment processing times
Direct Debit funds are usually remitted into your bank account within 3-5 working days from when your customer initiated the payment. It is important to note that unlike card payments, the funds are not secured until they reach your bank account.