Tips and tricks | 2 min read

No hassle to set up a B2B Direct Debit? It’s possible!

Debtors who always pay on time: this is the dream of every entrepreneur. Unfortunately, the reality is not always as simple as that. Still, you can do more than you think, with a B2B Direct Debit for example. With a B2B Direct Debit you can ‘automatically’ collect amounts from the account of your business customer. Interesting side effect: your client cannot claim a refund of the direct debit. This significantly reduces your credit risk!

Much more security with a B2B Direct Debit

B2B Direct Debits differ from ‘normal’ (Core) Direct Debits. The main difference between the two types of direct debits is that with a B2B Direct Debit your customer cannot reverse the payment. With a normal direct debit, your customer can claim a refund up to 8 weeks after the collection date without having to justify this. With a B2B Direct Debits, you are sure that you will actually be able to collect the amounts due. In the past there was also a difference in execution date but this is not longer applicable since 20th November 2016.

Too much fuss?

Security is nice but it has its price. Your customer is personally responsible for registering the B2B Direct Debit at his bank. And this sometimes goes wrong. Your customer forgets to take care of this. The (paper!) form contains an error, causing the direct debit to be invalid. This means that the whole procedure has to be started all over again, with all the delays that this implies. And in the meantime, your credit risk remains high. Entrepreneurs, therefore, often find that setting up a B2B Direct Debit is too much hassle and for reasons of convenience often opt for the normal direct debit that offers less security. For no good reason at all!

With Twikey you can easily set up a B2B Direct Debit

For your B2B Direct Debits to be handled successfully, it is of the utmost importance that you simplify this flow as much as possible for your customer. And that is exactly what Twikey does. Through Twikey, your B2B’s can be handled fully digitally. This allows you to reduce the error risk to almost zero and is in addition extremely fast. Your customer can settle a B2B Direct Debit in just a few clicks in a way that suits your business. You can already do this for both your Belgian and your Dutch customers.

How it works

Twikey is easy to use both by you and your customer. Your customer can sign a B2B Direct Debit through an email, an app or a website for example. He is then redirected online to his own bank environment where he can have his direct debit registered and approved automatically. This is fast and flawless. Twikey has developed its system in collaboration with the banks. We follow the SEPA standards and are compliant with all the legal obligations. Thanks to these partnerships we can automatically redirect your customer to his own trusted bank environment. And by doing so, the B2B Direct Debit is settled in no time.

Even more advantages

With Twikey you can set up, manage and collect your B2B Direct Debits. We make sure that the communication with your customer reflects your own house style. You can use Twikey in standalone mode or link it to your own systems, such as ERP and CRM software. No paperwork any more and more financial security. That is the Twikey solution.

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