Debit order collections
- With the Netcash debit order system you can automatically and electronically lodge a debit order on your clients’ accounts with your recurring and non-recurring debit order 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 order batch value on the day the debit orders are processed.
- The retained amount for your debit order batch is released to you 22 working days later.
Debit order services
Debit Orders can be processed on any workday, Monday to Friday, excluding public holidays. We have three debit order services available:
2 Day Debit Order Service
You will be required to process and authorise 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 Debit Order Service
You will be required to process and authorise your debit order batch by 11am on the action (collection) date. Funds are transferred to your account the next working day.
NAEDO Debit Order Service
You will be required to process and authorise your NAEDO debit order batch by 11am one working day prior to the action (collection) date. Funds are transferred to your Netcash balance for immediate clearance the same day they are collected.
Credit Card Transactions
You can add and process debit orders against all Southern African bank accounts, Master & Visa Credit Cards.
Debit order mandates
Netcash will provide you with the required wording for the debit order instruction forms that need to be signed by your debit order customers. In addition, Netcash is the only service that will allow you to lodge debit orders from bank accounts as well as selected credit card accounts. Client mandates can be uploaded electronically onto the Netcash debit order system as a backup to your original documents.