GoCardless (2024)

FAQs

What are the reasons for GoCardless failure? ›

I've seen GoCardless on my bank statement. Who are you? GoCardless process Direct Debit payments on behalf of other businesses and organisations.

It should take 1 business day to verify your bank account, providing the name registered to your bank account matches your business name. If your verification is taking longer than 3 days, please contact [email protected], as there may be an issue with your verification payment.

Overall, Stripe and GoCardless are both excellent payment processing solutions for small businesses. While Stripe has the advantage of lower transaction fees, GoCardless is more cost-effective in terms of setup and monthly costs.

GoCardless charges a fixed fee per transaction, making it a more cost-effective option for businesses. On the other hand, PayPal uses a tiered fee structure based on transaction volume, which can be higher for smaller businesses.

The first time a customer makes a payment with GoCardless typically takes 7-10 working days to reach your account. From the 2nd payment onwards it's around 3-5 working days.

Over 75,000 organisations use GoCardless to automate collecting money from bank accounts via direct debit and open banking. In government, our clients include the DVSA, the Cabinet Office and local Councils. Other customers include the Guardian and Ovo Energy.

GoCardless is a vetted and approved payment provider. We not only strictly adhere to the Direct Debit guarantee, but we're authorised by the Financial Conduct Authority (FCA) and – for even more consumer protection – we're ISO27001 certified since 2016.

Primarily these benefits are: Convenience - not needing to update details and missing a payment. Trust - Direct Debit is a well-known and widely-used payment method in the UK. GoCardless has been operating since 2011, collects payments for over 85,000 businesses and is regulated by the FCA.

GoCardless is an online Direct Debit specialist that manages the entire collection process on your behalf. Merchants can either collect and manage their payments using a simple online tool or can integrate with our REST API. Click here to find out more about collecting Direct Debits with GoCardless.

Who is eligible for GoCardless? ›

Yes - GoCardless is available to charities, registered companies and individuals. If you're a company but you are not registered, you should sign up as an individual.

Payouts will be sent to your bank account according to the payment timings of the scheme. Typically, payouts are processed within two working days of the customer being charged depending on the scheme you're collecting the payment through. You can find more information on our payment timings here.

Is my financial account information safe? We maintain organizational, technical, and administrative measures designed to protect financial account information against unauthorized access, destruction, loss, alteration, or misuse.

Instant Bank Pay is our latest feature for GoCardless users, that enables you to request a payment from your new or existing customers. Payment confirmation is instantaneous and funds land in your bank account in a business day or less (for the UK).

Built with trusted bank partners

Stripe Treasury is built in partnership with a network of banks, including Goldman Sachs and Evolve Bank & Trust, to enable you to embed banking services in your platform.

The most common reasons are insufficient funds or where a payer has cancelled their instruction. Other reasons include: The account has been closed, transferred or is not recognised.

Failed Payment means that the Company has not received full payment of the amount(s) owed by Customer by the Due Date or The Customers payment is rejected by the Customer's bank (e.g. Cheque bounced).

Bank debit payments can fail for a number of reasons, from invalid bank details and bank accounts being closed, to not enough money in the payer's account. In reality, of all the reasons a bank debit payment can fail, most are rare.

Court judgement

Your creditors may ask the court to issue a judgement enforcing the terms of the credit arrangement if you have been in default for more than 20 business days and haven't responded to a written notice or summons from them within 10 business days.