More and more people are looking to spread the cost of their premiums. At AXA, we already offer this facility at a competitive rate. However, we have now simplified the process for users of Open GI, CDL and SSP systems with the introduction of paperless direct debits.
Setting up a Paperless Direct Debit via EDI with AXA Insurance
When a customer wishes to setup a new instalment account, a script is to be followed when entering customer bank details for paperless Direct Debit transactions as per the BACS service user guide rules. It is to be used for telephone, telephone key pad and face-to-face applications.
The following key points must be included in the script.
- Verification that the customer is the account holder and therefore the payer. If the customer is not the account holder a paper DDI must be sent to the payer for completion
- Taking the payer’s bank or building society account number, sort code and account name
- Confirm that the person entering into the transaction is the only person required to authorise debits from the account. If more than one person has to authorise debits from the account a paper DDI must be sent to the payer for completion
- Advice of the advance notice period
- Confirmation of bank details back to the payer
- An explanation of the Direct Debit Guarantee – this must be provided in full if the payer confirms they require this
- Advice of the company name that will appear against the Direct Debit on the payer’s bank statement.