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- With Netcash you can automatically and electronically debit your clients’ accounts with your recurring and non-recurring collections as well as eliminate the ongoing expense of accepting payments through the traditional paper and magnetic methods.
- Debit Orders are an effective and safe alternative to receiving money in cash, by cheque or stop order.
- Netcash does not require you to provide upfront guarantees against your Debit Order collections.
- You will receive up to 90% of your debit batch value on the day the debit orders are processed.
- The retained amount is released to you 22 working days later.
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Netcash will provide you with the required wording for the debit order instruction forms that need to be signed by your customers. In addition, Netcash is the only service that will allow you to debit from bank accounts as well as selected credit card accounts. Client mandates can be uploaded electronically onto the Netcash system as a backup to your original documents.
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Processing Days
Debit Orders can be processed on any workday, Monday to Friday on the 2 day service and Saturdays on the Same day service. We do not process on Public holidays. We have two debit order services available:
2 Day Service
You will be required to process and authorize your debit order batch by 12pm (evening) two working days prior to the requested action (deduction) date. Funds are transferred to your account on the action date
Same Day Service
You will be required to process and authorize your debit order batch by 11am on the action (collection) date. Funds are transferred to your account the next working day.
Credit Card Transactions
You can add and process debit orders against all Southern African bank accounts, Master & Visa Credit Cards.
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