Direct Debit is a convenient, easy-to-use, cost-effective method for collecting fees. Low transaction fees of 1% + 20p are much cheaper than other forms of payment. Debit and credit card payments are an expensive way to collect your fees from your parents, with transaction fees ranging from 1.5% to 2%. Usually, they have an admin fee, which can be as expensive as £50 per month. Click here to see a cost comparison.
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