ACB/EFT

EFT Debits or basic debit orders are payment instructions directed by businesses to the account of their customers in terms of an authority (a mandate) granted by the paying customer. The basic debit order is most commonly used to collect monthly subscriptions.

The basic debit or der is processed without tracking / polling, the customers bank account is processed only once and the result of either successful or unsuccessful is reported to the system.
Flexifusions offers a complete secure online debit order portal available to businesses large or small, therefore your business is enabled to collect recurring payments from your customers bank accounts electronically, without the administrative time-consuming factors and the recurring manual process. The Flexifusions debit order system is web based which enables the user to optimally manage their debit order book at their convenience.

Flexifusions have implemented this basic debit order as a two-day service improving our client’s conversion
rate. You will be required to process, authorise and submit the debit orders before 12h00 two business
days prior to the action da te. The same day service is available on request however not recommended.

The basic functionality enables the user of the system to generate a debit order payment
instruction on authorization from the user’s client via a signed mandate.

THE FOLLOWING BANK ACCOUNTS CAN BE DEBITED:

The Flexifusions debit order system is available to approved businesses, it allows for efficient debit order processing.

BASIC DEBIT ORDER BENEFITS

Inexpensive Collection

Basic debit orders are generally an inexpensive debit method and are more cost effective than the Authenticated Early Debit Order and the Non-Authenticated Early Debit Order, more commonly known as the AEDO and NAEDO debit orders.

Cash Flow Management

Businesses control the date of
receipt of funds into its account, unlike waiting for customer payments or cancellations.
Receive the cleared funds in the
business account on a known
date increasing the cash flow
and improving the financial
forecast.

Reduced Administration Time and Costs

Utilizing the many features of the system greatly reduces the administrative cost and time. Unpaid data is received in real time allowing for the optimal management of exceptions. Businesses can opt in to receive immediate SMS notifications prompting immediate action to improve the conversion rate.

Account Validation

Account holder validation allows you to validate the authenticity of the natural person or legal entity claiming to be the holder of a specific bank account. This is done by verifying the person’s identity number or business registration number against the specified bank account.

Higher Transaction Limit

The basic debit order has a transaction limit of R1 000 000 per instruction compared to R15 000 for the AEDO and NAEDO debit orders.

Streamlined Reconciliation

Time consuming reconciliation is reduced saving the accounts department time and reducing human error interference.

PARTICIPATING BANK

Flexifusions deal with all major participating banks. These banks all f orm part of the debit order collection service.