GoCardless is an online payment system which this platform uses to take online payments. Unlike traditional payment merchants GoCardless uses Direct Debit to take payment for pledges made through the platform.
The advatage of GoCardless using Direct Debit is that the costs are lower than a traditional payment merchant and they also allow payment details to be taken at the time of pledge and stored until the offer window closes, only then if the offer is successful will payment be taken.
GoCardless can also be used to take recurring payments on a monthly subscription basis if necessary so can be very useful for someone who wants to, for instance, subscribe to the DFCSG membership monthly.
And of course by using Direct Debit it means that the investor is covered by the Direct Debit Guarantee which protects customers from payments taken in error. In the case of any incorrect or fraudulent payments, you are entitled to a full and immediate refund from your bank.
Direct Debit Guarantee
- This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debit
- If there are any changes to the amount, date or frequency of your Direct Debit GoCardless will notify you 3 working days in advance of your account being debited or as otherwise agreed. If you request GoCardless to collect a payment, confirmation of the amount and date will be given to you at the time of the request
- If an error is made in the payment of your Direct Debit, by GoCardless or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society
- If you receive a refund you are not entitled to, you must pay it back when GoCardless asks you to
- You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.