GoCardless offers a simple, hassle-free solution for businesses looking to set up and manage direct debits. As one of the UK’s most popular fintech solutions, the company provides a host of features designed to streamline payment processes and improve cash flow.
This comprehensive article aims to detail the services, pricing, comparisons, and reviews to help you assess whether GoCardless is the right choice for your business.
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Headline numbers
- Over 60,000 businesses using GoCardless
- £15 billion processed annually
- Available in 30+ countries
- Over 99% success rate for payments
- Average TrustPilot rating of 4.6 out of 5 stars
Key information
| Feature | Details |
|---|---|
| Founded | 2011, London, UK |
| Website URL | www.gocardless.com |
| Phone number | +44 20 8338 9536 |
| FSCS protected? | No |
| FCA regulated? | Yes |
Pros and cons of GoCardless
Pros
- Easy to use and setup
- Affordable and transparent pricing
- Global reach with multicurrency support
- High success rate for payments
- FCA regulated for increased security and trust
Cons
- Not FSCS protected
- Limited payment options compared to some competitors
- Not ideal for immediate payments; can take a few days to process
GoCardless plans and pricing
Standard plan
The Standard plan is designed for businesses that require a straightforward, efficient way to handle direct debits. It offers the essentials to manage recurring payments. There is no minimum contract period, and the plan supports an unlimited number of users.
Costs and fees
A simple fee structure of 1% + 20p per transaction applies, and this is capped at £4.
An additional fee of 0.3% applies to UK Bank Debit payments above £2,000.
An additional 1% is added for international transactions.
Advanced plan
The Advanced plan builds on the Standard offering by adding extra features like custom payment pages and advanced fraud protection. It’s suitable for businesses looking for more customisation and security measures. This plan also comes with no minimum contract period and allows for unlimited users.
Costs and fees
The Advanced plan costs 1.25% + 20p per transaction, capped at £5.
As above, an additional fee of 0.3% applies to UK Bank Debit payments above £2,000.
An additional 1% is added for international transactions.
Pro plan
Aimed at large enterprises or businesses with specific needs, the Pro plan offers full control over the direct debit process, from custom notifications to dedicated customer support. A contract is usually required, and like the other plans, it allows for unlimited users.
Costs and fees
The Pro plan costs 1.4% + 20p per transaction, capped at £5.60.
As above, an additional fee of 0.3% applies to UK Bank Debit payments above £2,000.
An additional 1% is added for international transactions.
GoCardless reviews
| Source | Rating |
|---|---|
| TrustPilot | 4.6/5 |
| Google Reviews | 4.4/5 |
| Reviews.io | 4.5/5 |
| Average | 4.5/5 |
Alternatives to GoCardless
- Stripe – Ideal for online businesses with a variety of payment options.
- PayPal – Widely accepted and easy to integrate, but may have higher fees.
- Square – Excellent for mobile and point-of-sale transactions.
Additional considerations
When considering GoCardless as a payment solution for your business, several factors should be taken into account:
- Contractual Obligations: If you opt for the Pro plan, be sure to carefully read the terms and conditions to understand the length of the contract and any early termination fees that may apply.
- Payment Speed: GoCardless typically takes a few working days to process payments. If your business relies on faster transaction times, this could be a limitation.
- Regulatory Coverage: While GoCardless is FCA regulated, which provides a degree of security and trust, it is not FSCS protected. This means that your funds are not covered by the Financial Services Compensation Scheme in the unlikely event that the company faces financial difficulties.
- Multicurrency Support: If your business operates internationally, evaluate how well GoCardless’s multicurrency options align with your needs.
- Scalability: As your business grows, your needs may change. Assess how easily you could switch between GoCardless plans and what the associated costs would be.
- API Capabilities: If your business uses custom software, check how well GoCardless’s API will integrate with your existing systems.
- Customer Support: Understand the level of customer support provided in each plan. While the Pro plan offers dedicated support, other plans may offer standard customer service, which might be sufficient for smaller businesses but lacking for larger enterprises.
- Alternative Payment Methods: GoCardless focuses on direct debits, so if your business requires a more diverse range of payment methods, you may need to integrate other payment solutions.
- User Experience: Consider the user interface and customer experience when interacting with the GoCardless platform. A smooth, intuitive user experience can save time and reduce errors in the payment process.
- Security Measures: Lastly, consider the advanced security features available in the higher-tier plans. If your business handles a large volume of transactions or sensitive information, advanced fraud protection can be crucial.
Taking time to weigh these considerations can provide a more nuanced understanding of how GoCardless aligns with your business objectives and operational needs.
GoCardless company history
Founded in 2011, GoCardless has seen impressive growth over the past decade. Originating as a simple idea to make collecting direct debits easier, the company has evolved into a global payment service provider, backed by renowned investors like Google Ventures.
FAQ
Yes, GoCardless is regulated by the Financial Conduct Authority (FCA).
Fees vary based on the plan you choose. The Standard plan starts at 1% + 20p per transaction.
Yes, the company offers services in over 30 countries and supports multiple currencies.
Absolutely, the Standard plan is designed with small businesses in mind.
The company has a 99% success rate and offers automatic retries for failed payments.
Custom notifications are available in the Plus and Pro plans.
Payments usually take a few working days to process.
Yes, GoCardless offers robust API options for easy integration.
No, the company is not protected by the Financial Services Compensation Scheme (FSCS).
The Standard and Plus plans have no minimum contract period.
Yes, but this feature is only available in the Plus and Pro plans.
There is no limit on the number of users for any plan.
With a 99% success rate and FCA regulation, GoCardless is highly reliable.
Dedicated support is available in the Pro plan.
Yes, its recurring payment features are ideal for subscription models.
Yes, GoCardless provides support for migrating existing direct debits.
Stripe, PayPal, and Square are some of the alternatives.
Yes, GoCardless operates in over 30 countries.
Currently, GoCardless does not offer discounts or promotions.
Yes, all costs and fees are clearly outlined on their website.