With Payment Schedules you can set up a series of Direct Debit payments to be collected over a configurable period of time or over an open-ended term.
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Payment Schedules allow you to set up a series of payments against a mandate. 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 READY FOR EXPORT status. The payments are exported (sent to Clearing) automatically as each payment in the schedule is due.
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 READY FOR EXPORT status prior to its collection date.

Schedules may be configured with the following frequencies:

  • Daily
  • Weekly
  • Bi-weekly
  • Monthly
  • Yearly
  • Custom

The Custom option allows you to make collections at intervals of every 3 months (quarterly) or every 6 months (bi-anually). Where you choose the custom option you must set paymentCustomFrequency = 3 or 6 in the Create Payment Schedule or in the Create Payment Schedule & Mandate requests.