How does it compare to taking money on credit card?

When taking money on a credit card from parents, you will likely incur charges on your business account of around 2%, and you may need to keep reminding parents every month that they need to pay. Using our fee collection service, the direct debit is taken out of their account at the same time each month, with no hassle and no chasing needed.

What is the risk to me?

There is no risk to you at all, as the service is provided by and managed through Parenta. What’s more, all payments made by parents will be covered by the Direct Debit Guarantee.

Will it be a big change to how I currently work?

Automated fee collection will completely change the way your setting works. For a start, you’ll never need to worry about whether you’ll be paid on time and there’ll be no need for you to chase parents for payment. This means you can keep childcare completely separate from collecting money, enabling you to focus on building a great partnership with parents.

What happens if the money is not collected?

If the money is not in a parent’s bank account when we attempt to collect it, we’ll write to them explaining it could affect their credit rating and charge them a £20 fee. We’ll give them the date of a second collection and ask for the funds to be available for collection. We find that once parents have received a letter and charge, they don’t miss further payments.

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