Collect payments from your customers with our new direct debit functionality

Direct debit payments account for almost 20% of the payments made in France (on an annual basis), making direct debits the second most popular payment method in the country—the most popular one being payment cards. If you’ve ever tried both direct debit and card purchases, you’ve probably already noticed that card payments were much more sensitive than direct debit ones—card payments can fail for lots of technical reasons.

Sure, payment cards tend to be accepted everywhere, but they can fail as soon as a little detail goes wrong. An expired card or a wrong authentication code is all that’s required to ruin your client’s payment. Direct debit payments are reliable. Because there’s no card network involved. Direct debit payments rely on bank-to-bank transactions. If you collected your client’s SEPA mandate, and if the bank account you’re about to pull money from is not in negative territory, then your direct debit payment is very likely to go through.

Unlike incumbent banks, we’re not fans of variable fees. We try to make our pricing as clear and predictable as possible. With our new payment collection feature, we’re sticking to our “make banking fares boring again” line.

The cost of our payment collection feature only varies depending of the monthly plan you chose:

• 50€/month (vat not included) for the subscribers of our basic plan ;
• 75€/month (vat not included) for the subscribers of our plus plan ;
• 100€/month (vat not included) for the subscribers of our unlimited plan.

We’re talking about a fixed cost here. It allows you to make collections by direct debit. Each direct debit pull you make then taps into the total of operations you can perform free of charge in any given month. If you signed up for our unlimited plan, then you can perform as many direct debit payments as you want, without your fees going through the roof—unlike fintechs, what happens when you’re charged on a transaction by transaction basis. And, since we do not collect any percentage fee on your direct debit payments, what you get is the same as what you collect on your client’s account.

To learn more about our payment collection feature and see if you’ll be able to use it, just call your Memo Bank banker. If your company is allowed to collect money through direct debit, we’ll need your SEPA identification number, which a bank might already have provided you with. Don’t worry, if you don’t have a SEPA id yet, we can ask the Banque de France to create one for you.

As always, we hope that our new direct debit payment feature will help your company. If you’ve got any questions about our latest feature, send us an e-mail or tag us on X (@memobank).