There are a number of different ways in which you can pay your NSG invoice(s), depending on our agreed payment plan.
The easiest, simplest, and most convenient way to make payment of your invoices is by Direct Debit. The amount you pay is based on your annual invoices (together with any outstanding balance and interest). This is not a fixed sum every month. It will depend on the amount owed to our group. This will be reviewed regularly and may be increased or decreased depending on the amount(s) owed for your invoices. It will mean you don't have to worry about missing those important payments, especially when on holiday or at busy times of the year.
What is a Direct Debit?
A Direct Debit mandate is an instruction from your business to your bank. It authorizes our group to collect varying amounts from your business bank account – but only if we’ve given advance notice of the amounts, dates of collection, and occurrence. Once you have agreed on those, the money is deducted automatically. If we want to change the amount or date of collection, we have to tell you about it first.
Regular payments of an amount will be paid on a specified date, but this can increase or decrease depending on the amount(s) owed for your invoices. It allows your bank to take money regularly from your account to pay another account.
How long does a Direct Debit take to clear?
Direct Debits are not processed on the same day they are set up with your bank. You must allow at least three working days for it to clear. Once the money has cleared, we will update your records.
If your payment is due to go out on a bank holiday or weekend, the money will leave your account on the next working day.
What happens if a Direct Debit is not paid?
If you don’t have enough money in your business bank account to pay your direct debit, it may be refused by your bank. When this happens, your direct debit stops until the next scheduled payment. Your bank may charge you a fee typically £5 up to £25.
Even if your bank does make the payment you might go into arrears (or into the red) without noticing – which means you’ll have to pay overdraft charges and additional fees.
Some banks will have a ‘retry process’, where they will attempt to send your Direct Debit again. Usually, this happens the same day as the Direct Debit was due to go out.
What is a Direct Debit guarantee?
This guarantee protects your business in the rare event that there is an error in the payment of your Direct Debit, for instance, if a payment is taken on the incorrect date, or the wrong amount is collected. If your bank or we have made a mistake (such as taking the wrong amount) you can get a refund from your bank.
Disclaimer: This guarantee cannot be used to address contractual disputes between you and our group. If you have any concerns or need our assistance, please get in touch digitally either through one of our communication tools or our email address: email@example.com
Direct Debit Payment