What is pdd in banking?
'Post Disbursal Document(s) (PDD)' means document(s) which are required to be submitted by the borrower after the disbursement of the loan. What does PDD stand for? What does PDD mean? We have 7 definitions. What is the hidden cost and charges in New Car Loan payable to the bank but not communicated to customer. Get PDD : Definition and Meaning. I believe it is PPD and not PDD in a banking statement.
– Over the telephone
A short script is read out to your payer. The payer’s name, address and bank details are taken and keyed in to our online admin portal. The bank details are confirmed in real time and an email confirmation is sent to the payer.
– Internet – through your website
The payer fills in a single page data entry form on your website and ticks a box to say they want to set up a Direct Debit. They then fill in their name, address and bank details on a single page. Find out more about online Direct Debits.
– Face-to-face
Details are taken verbally using a script and then entered in to our admin portal from your pc, laptop, smartphone or tablet.
Once the customer’s details have been collected and imported into our admin portal using one of the methods above, a Direct Debit Instruction (DDI) is lodged with the customer’s bank electronically using AUDDIS (Automated Direct Debit Instruction Service).
Waiting for customers to return a paper mandate can be very frustrating. During that period, customers can change their mind and sales will be lost. Offering PDD allows your organisation the opportunity to capture payer details at the point of sale across a variety of channels.
A few benefits of our PDD service:
– Eliminate paperwork and postage costs
No need to dedicate staff to handling paper mandates from customers or to post DDIs to paying banks.
– Reduce input errors and unpaids
Our admin portal validates your customers’ bank details in real time which ensures you get the correct data from the beginning and significantly reduces the number of unpaid debits you are likely to get if using a paper mandate service.
– Collect your payments earlier
With our PDD service, organisations don’t have to wait for customers to complete and return DDIs, which means you can start collecting payments sooner.
– Improved customer service
By offering a PDD service, customers find it a lot easier to sign up for services due to not having to fill out and post paper mandates back to you. Signing up online is instant and convenient for the customer.
