Payment Schedules allow you to set up a series of payments against a mandate/DDI. Schedules can be Fixed-Length or Open-Ended.
|Fixed-Length||You can specify the amount to collect, how often the payments are taken and the total number of Direct Debits to be collected. With a fixed-length schedule, the total number of required payments are created in
|Open-Ended||The amount and the frequency is specified however there is no set number of payments and collections will continue to be made indefinitely. Only one payment (the latest) is ever in
A schedule may be configured with any one of the following frequencies:
The Custom option allows you to make collections at intervals of every:
- 3 months (quarterly) or
- 6 months (bi-anually).