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what_is_the_difference_between_a_debit_order_and_an_early_debit_order

What is the difference between a debit order and an early debit order?

Both debit orders and early debit orders are facilities that allow for a third party to collect money from your account. An early debit order is simply processed close to a credit payment, which means that after your salary is processed, the early debit order is processed against your account.

There are two types of early debit orders:

  • An Authenticated Early Debit Order (AEDO) which enables an account holder to mandate the contracted future dated early debit orders through the use of his/her bank cards by entering a PIN.
  • A Non-Authenticated Early Debit Order (NAEDO) would allow qualifying service providers and consumers transacting with such service providers the equivalent benefit of AEDO, however without the PIN authentication requirement.
what_is_the_difference_between_a_debit_order_and_an_early_debit_order.txt · Last modified: 2015/09/30 09:39 by Jaco van Wyk