Monthly plans in, repairer payments out, held funds in order
A service plan collects a small amount monthly and pays out when something breaks, often to a third-party repairer rather than the customer. The collection is routine; the payout and, where funds are held against future claims, the safekeeping are where it needs care.
Collect monthly, pay the repairer, hold the rest
Plan payments are a steady monthly collection, and on a card they leak to declines, turning an active plan into a lapsed one for no real reason.
When a claim is made, the money usually goes to a repairer or engineer who has done the work, so the payout is to a third party and must reconcile against the claim and the plan.
Where the model holds funds against future claims, that money must be kept segregated and accounted for rather than treated as revenue.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Collect the monthly plan on a durable mandate that does not expire like a stored card.
Pay repairers and engineers on an approved claim the same day, referenced to the claim.
Hold plan funds in segregated accounts where the model requires it, accounted for per plan.
Your flow of funds, orchestrated
The monthly plan collects over Direct Debit, a durable rail that does not lapse on card expiry. When a claim is approved, the repairer is paid over Faster Payments the same day, referenced to the claim and plan. Where funds are held against future claims, they sit in segregated accounts, accounted for per plan. Collection, payout and held funds reconcile on one ledger.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for warranty and service plans: FAQs
Over Faster Payments the same day, referenced to the claim and plan, so the third party is paid promptly and the payout reconciles.
By collecting over Direct Debit, a durable mandate that does not expire or decline like a stored card.
Where the model holds funds against future claims, they sit in segregated accounts accounted for per plan.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.