The London & Zurich (L&Z) payment collection timeline for new and existing direct debit instructions are described in the tables below. The timeline can help you to plan your payment requests schedules through LoveAdmin and manage your cash flow. For more advice please contact the LoveAdmin support team.
Note: At no time does LoveAdmin handle any money processed for your organisation. All funds are processed and completed by L&Z.
Collection payment timeline for new Direct Debits (DDI)
This timeline applies for your customers that have setup a bran-new DDI, and are having a payment collected for the first time.
|
Banking day |
Activity |
|
Day 0 |
Payee completes online Direct Debit Signup. The payee's account is added to the L&Z system. (Provided this was completed before 4.30pm, otherwise day 0 begins from the next business day) |
|
Day 1 |
L&Z submit AUDDIS file to Bacs AUDDIS is what enables L&Z to send new Direct Debit Instructions to Bacs electronically, instead of in paper format. |
|
Day 2 |
Bacs processing day |
|
Day 3 |
Direct Debit lodged/accepted LoveAdmin submits Collection request to L&Z |
|
Day 4 |
L&Z submit to Bacs |
|
Day 5 |
Processing by Bacs |
|
Day 6 |
L&Z receives payment (Money withdrawn from payee's account) |
|
Day 7 |
Failures notified by Bacs (including cash recovered) |
|
Day 8 |
Failures notified by Bacs (including cash recovered) Payment to your organisation submitted |
|
Day 9 |
Payment received by your organisation |
Collection payment timeline with existing/lodged Direct Debit mandates
This timeline applies for your customers that have an existing DDI and are having a repeated payment collected.
|
Banking day |
Activity |
|
Day 0 |
The day in which the payment request is generated. LoveAdmin will send the Advance Notice email to the payee. LoveAdmin submits Collection request to L&Z |
|
Day 1 |
L&Z Submit to Bacs |
|
Day 2 |
Processing by Bacs |
|
Day 3 |
L&Z receives payment (Money withdrawn from payee's account) |
|
Day 4 |
Failures notified by Bacs (including cash recovered) |
|
Day 5 |
Failures notified by Bacs (including cash recovered) Payment to organisation submitted |
|
Day 6 |
Payment received by your organisation |