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Topic Title: Fees by Direct Debit
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Created On: 25 February 2011 07:15 AM
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 25 February 2011 07:15 AM
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Posts: 140
Joined: 25 June 2006

Is there a reason why IET does not take fees by Direct Debit on a monthly basis ?
 25 February 2011 04:32 PM
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Posts: 235
Joined: 10 May 2003

The reason may be:

Direct Debit payment result in a premium added to the overall fee, similar to insurance DD monthly payments? Hence increasing the overall membership fee?
 28 February 2011 09:41 AM
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Joined: 17 July 2002

Payment by monthly Direct Debits is a payment option we've investigated but introducing it is not without its problems. Firstly our computer system has been designed for annual payment and so there would be a significant cost in adapting the software. There would also be a significant increase in the amount of administrative support required to deal with the rejections and chasing missed payments. Finally monthly DD would only be available to holders of UK bank accounts which would mean IET members from outside the UK might feel they are being penalised.

Anne Fitzsimons
Membership Manager
The Institution of Engineering and Technology

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