DebiCheck – The future of debit orders collections is here…

An advanced debit order service is now available to Netcash customers – DebiCheck Debit orders, a system that protects both parties involved in the transaction.

DebiCheck is a secure debit order system requiring the bank account holder to give specific electronic permission (via their bank) once-off at the start of a new contract, prior to any debit order being processed. DebiCheck replaces both AEDO (Authenticated Early Debit Order) and NAEDO (Non-Authenticated Early Debit Order) transactions.

You can debit a bank account confidently as specific consent is received via the account holders bank and the likelihood of transactions being disputed is drastically reduced. Bank account holders have the comfort of knowing that the debit order can only be processed within the terms as agreed by them.

DebiCheck does not replace Same-day and Dated debit orders but can be used as an alternative.

With DebiCheck debit orders, bank account holders will need to confirm debit orders electronically and on a once-off basis. The intention is for customers to confirm the details of the debit order with their bank before it is processed to their account. |Standard debit orders do not require electronic confirmation and rely solely on a signed or voice recorded mandate.

Reduced dispute rate

Debit order disputes will be reduced by initially authenticating mandates with your customer making it a lot more difficult for a customer to dispute.

Eliminate consumer abuse

Clients returning debit orders to boost their cashflow will be drastically reduced.

Tracking

Should funds not be available when the debit order is presented, banks will keep checking the account for available funds for the tracking period specified which will improve your collection rate.

Netcash clients have 3 options for submitting authentications:

• Capture/ upload Electronic Mandates that include requests for authentication or
• Capture DebiCheck authentication details manually in your Netcash account or
• Upload DebiCheck authentication requests

Netcash

• Submits authentication requests to account holder’s bank
• Confirms authentication results
• Automatically updates Masterfile with debit order detail

Account holders’ bank

• Authenticates DebiCheck request by various electronic channels available to the account holder. Methods may include banking Apps, USSD, ATM or branch.
• Communicates results to Netcash

Account holder

• Receives authentication request
• Verifies amount, date, and terms of the debit order
• Accepts or declines the request

Settlement 

• Successful collections will be credited to your Netcash account once payment is received from the account holder’s bank
• Bank accounts can be tracked for up to 10 days
• After the tracking period has expired, unsuccessful transactions with zero values will be processed to the Netcash account for ease of reconciliation

With DebiCheck Collections, customers will give consent to debits through an electronic authentication process which means greater success rates and fewer disputes.