Why are people cancelling direct debits in this recession?
Howard Lake | 30 March 2009 | Blogs
Some my larger clients report that they, and others, are experiencing the cancellation of direct debits; which did not happen in the last two recessions on any scale. Indeed, those with direct debits, standing orders and those using other committed giving mechanisms were the backbone of their individual income streams.
My conjecture (and I would be very interested in your views on this) is that the most effective organisations have now moved committed giving far from their hard core supporters to the softer multitude who just do not care so much. So, those cancelling in this recession are not just the few who have lost their jobs; but those, for example, on fixed mortgages who are simply trying to reduce their debts.
Any views?
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.