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.
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
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
Reduced Administration Time and Costs
Higher Transaction Limit
Flexifusions deal with all major participating banks. These banks all f orm part of the debit order collection service.