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Direct Debit Fees
rob_o4
Posts: 5 Forumite
Apologies if this isn't the best place for this....
Recently received my annual subscription summary for my professional fees, and I've noted that I'm being charged £22 for direct debit administration. My direct debit details haven't changed, is there a limit on what a company can charge for DD admin? Or a way of querying how exactly my £22 has been calculated? Or can they just charge what they want?
Recently received my annual subscription summary for my professional fees, and I've noted that I'm being charged £22 for direct debit administration. My direct debit details haven't changed, is there a limit on what a company can charge for DD admin? Or a way of querying how exactly my £22 has been calculated? Or can they just charge what they want?
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Comments
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It seems like sharp practice, there won't be any admin if your details haven't changed. Is there any other way you can pay the fees?0
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Apologies if this isn't the best place for this....
Recently received my annual subscription summary for my professional fees, and I've noted that I'm being charged £22 for direct debit administration. My direct debit details haven't changed, is there a limit on what a company can charge for DD admin? Or a way of querying how exactly my £22 has been calculated? Or can they just charge what they want?
Was it a DD against a credit card? If so, was it a company or personal CC?0 -
General_Grant wrote: »Was it a DD against a credit card? If so, was it a company or personal CC?
A DD can't be against a credit card, it would be a CPA, a different beast entirely.0 -
Suspect your professional institute is mainly passing on higher fees imposed by the bank or credit/debit card issuing company, although it could also be an increased admin cost - wages of the admin staff etc.
Furthermore, given they're a professional body their purpose is to exist for the benefit of members - it's not as if they're making money for shareholders. But you could always ask - they'll have an AGM, so go along to that and ask the question.
Alternatively, if you feel that strongly about it, stand for election yourself and campaign on a platform of lower membership fees - I'm sure they're always on the lookout for new committee members!0 -
They do have some extremely expensive offices in central London to fund however....
With over 100,000 members, even if say 50% paid by DD, that's still over a million pounds, can get plenty of admin staff for that
Anyway, have asked how they calculated the £22 fee....0 -
Direct Debit should be the cheapest form of collection for an organisation. Normally they charge credit card fees which is way more expensive. I have never heard of a DD admin fee and they will be making a good margin on £22. Collection costs should be part of their business model and not an admin fee on DD. Bad Practice! Regards
DirectDebiter0 -
directdebiter wrote: »Normally they charge credit card fees which is way more expensive.
No, they don't, because they can't.0
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