We will be improving our Debit Order and Naedo service over the next 6 months. The first change takes place on September 23, 2019 when we will be switching our Debit Order and Naedo service from FNB to ABSA.
What will this mean for you?
You do not have to make any changes at all. We will simply be changing from one bank to the other. All file formats, existing processes, billings, mandates and notifications will not change.
You will continue to be billed for and receive notifications of Return Debits and Disputes for files uploaded before and up to the date of the migration and these need to be actioned as per your usual process.
Payouts and Reserves:
- Your payout period will remain unchanged during the migration period.
- Your reserves will remain unchanged during the migration period. Your bank reserve will not be paid out to you as a result of the migration.
We are confident that the migration will run smoothly with minimal impact on you and to your customers. If you have any concerns or questions, please let us know at email@example.com.
Support for Naedo and Debicheck:
- We will unfortunately not be able to support the creation of new Naedo mandates as of the 1st of November, so should you want to setup new Naedo mandates, you will need to do so between the the 23rd of September and the 31st
- Debicheck is the Payment’s Association of South Africa’s (PASA) initiative, that protects clients from unauthorised debits. To ensure that we are in line with regulation, we are currently working on adding support for Debicheck and will be able to confirm a launch date for this in the coming months. Read more about DebiCheck here.