There have been bad behaviour by some companies that process invalid debit orders to consumer bank accounts. In addition, there are consumers that avoid paying valid debit orders by unfairly disputing these with their banks. As a result, the Reserve Bank has asked PASA, which includes the South African banks, to find a solution.
This is why DebiCheck is being introduced as the new secure debit order platform.
Read more on Debicheck here: PASA DebiCheck
In order to be compliant, DC Partner will also switch all Naedo Debit orders over to DebiCheck. To load/convert a DebiCheck debit order on Finwise is straight forward and easy. Our training agents are ready to assist our debt counsellors with information and training support on DebiCheck.
Finwise is developed to accommodate DebiCheck and many debt counsellors are already using DebiCheck with success on Finwise.
When you upload a new Debit Order via Finwise, the consumer will receive a notification the following morning via push notification or sms. The consumer is then required to authorise the mandate by 20h00 that same day - via his banking app, ATM or internet banking.
South Africans use debit orders as a convenient way to pay accounts.
To reduce the risk of unauthorised debit orders on consumer accounts, the Reserve Bank together with PASA, and the South African banks, introduced DebiCheck as a solution. DebiCheck will be the new debit order platform for secure debit order payments in South Africa.
A DebiCheck debit order is a debit order which is electronically confirmed by the consumer, via one of the following methods; his banking app, online banking, SMS/USSD or ATM.
The consumer will receive a notification via push notification or sms. The consumer must authorise the mandate by 20h00 that same day - via his banking app, ATM or internet banking.
In our industry the debt review debit orders will also be changed over to DebiCheck to be compliant and secure.
It’s important to ensure your cell phone number is updated with your bank.
Contact your Debt Counsellor if you need more information on how to switch your current debt review debit order over to DebiCheck.