LSV⁺ – Direct debits with right of objection
Benefits in general
- Optimized cash management through on-time and final receipt of funds (active control option for the incoming payment, same value-date credit, no returns for technical banking reasons).
- Practically no returns (less than 0.3%).
- Cost savings through the use of standardized and established processes throughout the billing cycle.
- Cost savings through a very high degree of automation (significantly improved dunning process, no manual and paper-bound processes).
- Paperless handling reduces expenses (mailing out invoices and cash pay-in fees are eliminated, no pay-in infrastructure).
- Fewer subsequent costs because the requested amount is unalterable (easy recognition).
- Established dunning process can be used.
- Flexible submission either to the bank or to SIX Interbank Clearing Ltd.
- Clearly communicable product advantages for customers.
Advantages for bill payers
- A convenient and easy way to pay bills
- Payments will not get “lost”
- No paper war
- Inexpensive or free payment means
- Confirmation of the payment execution
- Guaranteed right to object with defined and guaranteed time limits.