Direct Debits

Processing payments by the Electronic Funds Transfer (EFT) system involves implementing software and having to process files and unpaid records – sometimes in a labour intensive fashion.

Using our realEFT service, which works with any bank (who's a member of the clearing system) in Ireland, a business may send direct debit transactions to their bank via Realex Payments. We manage the validation of the data and complete the file creation and submission functions.  

In addition, we collect unpaid direct debits from your bank, match them against the original transaction and reconcile them with your bank account. Used in conjunction with our other payment services such as credit/debit card processing, realEFT brings together into one feature rich environment all the payment processing services required for a business.  

The benefits to a business in using realEFT are

• No software/hardware required - it's all online - safe, secure and in real time;
• Flexible and advanced integration options or use it as a standalone application;
• Operates multiple accounts, combines payment methods;
• Avoids the need for you to store bank account, credit card details and thus reduce your risk;
• Eliminates the need to create and submit files - we do all this for you;
• Provides electronic delivery of unpaid direct debits matched with the original transaction thus eliminating manual processes.

But don’t take our word for it:

 “The Realex service has greatly improved our direct debit process. The ability to view and search for transactions, including unpaids, through an on-line reporting application makes processing direct debits much easier” Kara Browning, Financial Controller, Daft.ie