Direct Debit indemnity claims update

Direct Debit indemnity claim automation update

Bacs is automating Direct Debit indemnity claims later this year (this is currently one of the last remaining paper based Direct Debit processes) – so ensure your organisation is fully prepared for this important development to the Direct Debit product.

The Direct Debit indemnity claim automation (DDICA) process will start to happen with effect from October 2010. And from day one you may start to receive some automated claims on Bacs reports in addition to the paper based ones you currently get.

By the end of April 2011 all banks will be using the new automated process to submit indemnity claims, so it’s vital your organisation is ready for this change. The October and the April dates may seem a long way off to you at this moment in time but it’s surprising how swiftly time seems to pass so act now.

Is everyone in the information loop?

Does everyone in your organisation who is involved with the Direct Debit indemnity claim process know about DDICA?

Check that they have received a copy of this email. If not forward it on to them and suggest they subscribe to our mailing list to ensure they receive future communications from Bacs giving updates about DDICA.

Is straight through processing an option for your organisation?

DDICA offers the potential for straight through processing (STP), enabling you to pass details of indemnity claims directly into your systems without the need for manual intervention. This may require some development by your organisation to enable this functionality. You should consult your software supplier about this.

Have you considered if this is suitable for your organisation? Have you discussed this with your software supplier yet?

Do you have all the information you need?

The Bacs website contains further details about DDICA including impacts on your processes, the benefits DDICA brings, a flow diagram of the process and a number of helpful FAQs.

Visit the Bacs website to find out more about DDICA, and remember to check back regularly to see what updates have been made to the information – consider saving the URL in your favourites folder on your computer for ease of future access.

This is the second in a series of communications that Bacs will be sending out throughout the year providing information about DDICA. In addition your sponsoring bank may also be communicating with you about DDICA.

If you have any further enquiries at this point in time visit the DDICA section of the Bacs website or contact your sponsoring bank, or, if the question relates to STP or is software specific, contact your software supplier.