Overview
Direct Debit service is an easy, secured, and convenient method for collection of recurring payments (bills, installments, subscription fees, etc.) provided to Corporate clients, to manage collections and receivables from their customers.
Direct Debit is used throughout the world and is known as one of the most cost-effective and efficient methods of processing regular and periodic payments collection.
Features
Key Characteristics and Benefits
- Collect amounts electronically from Al-Rajhi Bank and local banks.
- Receive installments on time.
- Narrow the margin of late installments.
- No need to visit the branch to pay the due installments.
- More predictable and manageable Cash flows.
- Detailed results of each transaction executed.
- Use of the latest electronic services to collect payments.
- Directly deposit payments in the company’s account.
- The largest customer base in the Kingdom.
- Major companies have adopted ARB to use Direct Debit service.
- Al Rajhi Banks offers the most simplified and comprehensive end-to-end Direct Debit process.
Direct Debit within Al Rajhi Business:
For convenient, secure and easy direct debits transactions over Al Rajhi Business Banking Services:
- Upload payers for direct debit mandates to any local bank in the kingdom.
- Generate report to view exact log of debit payments history (payments received / not received).
- View sent file reports to see all Direct Debits that have been requested.