GoCardless

What differentiates GoCardless from other similar products?

Go cardless has made direct debit payments a breeze, we have been using their service since the inception of Go cardless. Sure there were others but none (at the time) offered the same easy to administer online interface plus integration into our accounting software (later) for easy reconciliation. The fees and pay as you go plan worked well for our organisation as we scaled up. At the time I was using Natwest for business banking and when I asked my bank manager for a direct debit service, his initial reactions was "what" then let me get back to you, 1 weeks later of BTW you need a minimum 100 direct debits to start.

What is your favorite aspect of this product?

The back end of go cardless is amazing and I think sets it apart from other direct debit providers. Now we also use Stripe for CC processing and it will be interesting to see how things progress as Stripe has started to offer direct debits. 1) Interface - 10/10 2) Integration with zoho books, smooth for the most part. 3) Level of customisation is quiet good in the entry level plans 4) For merchants processing smaller amounts their solution is excellent VFM and reduces the risks associated with card payments yet extremely flexible

What do you dislike most about this product?

As the company has gotten bigger they have increased fees to the point go cardless is only slightly cheaper than processing credit card payments which some customers love because they get points and other freebies from credit card banks. Getting dual signatures for company business accounts which may have 2 or more signatories is a pain (needs manual form completion and posting). There are limits on the maximum amount you can process (GBP 5000) for my industry this is not great but I understand this wont affect others.

What recommendations would you give to someone considering this product?

1) Consider the volume of each transaction, this solution is geared up to smaller amount ideally (not GBP 2000+ and upwards) 2) Make sure the integration with your chosen accounting system exists (to reduce manual entries) 3) Work out if your customer market will be happy signing a direct debit (B2C is easy) B2B is easy too for SME's but gets complicated if you work with PLC's and any mid or larger firms with multiple signatories on their company bank accounts.

What differentiates GoCardless from other similar products?

For payments to be taken by direct debit means we have direct control over those payments. Customers feel safe with direct debit and trust GoCardless, so we get to reduce the need for payments to be taken manually. With GoCardless, we now never really get overdue invoices. The fees are much lower than standard credit card processing too!

What is your favorite aspect of this product?

It's very easy to use, both for me to manage and for clients to set up their direct debits. I can create a simple link with the correct payment information and clients can set up their direct debits in just a couple of minutes.

What do you dislike most about this product?

The lack of mobile compatibility with the dashboard is a little frustrating. It makes it difficult to check on upcoming payments and payouts from my phone.

What recommendations would you give to someone considering this product?

Try one or two customers out with it if you have recurring payments to take and you'll see how much easier it is than manual payments, and how much cheaper it is than credit card processing!