Why have SmartDebit applied deductions to my Funds Transfer?

SmartDebit will make deductions to a Funds Transfer due to the following reasons:

• Unpaids: An unpaid Direct Debit is classified as a failed collection, which means that the funds have not been cleared into your client account. SmartDebit will notify you of any unpaid Direct Debits via email with a link to the Pulse portal allowing you to review the ARUDD report. These reports are received on the 1st and 2nd working days immediately following the date of collection.
• These reports remain on the SmartDebit Pulse portal indefinitely.
• Indemnity Claims: An Indemnity Claim means that a Payer has lodged a dispute with their bank under the terms of the Direct Debit Guarantee and the bank have agreed to refund the collected funds to the Payer. These funds would therefore be deducted from your next Funds Transfer.
• Indemnity Claims (DDICAs) are received via the Bacs reports system. They can be received at any time, as there is no limit on how far back a Payer can claim.
• SmartDebit will notify you of any Indemnity Claims via email, with a link to the Pulse portal allowing you to review the received DDICA reports. They remain on the SmartDebit Pulse portal indefinitely.
• Unpaid Invoices: Should there be an unpaid invoice, SmartDebit may choose to deduct this from your Funds Transfer. This will always be advised to you in advance. 
• Holdbacks: Where a Holdback deposit has been agreed on your account, this will be deducted from your Funds Transfer. This will be agreed in advance and you will be notified of the value on the Funds Transfer Summary as 'Holdback _%'.

If you have any queries regarding deductions from Funds Transfers and how they are calculated, please do not hesitate to contact our Customer Service team.

For more information on ARUDD reports click here