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accuracy_of_data_provided

Accuracy of data

Users must ensure that the account numbers used are accurate and belong to the intended beneficiary, as the EFT Service operates solely on account numbers. An Account Verification Service (AVS) is available which enables the User to verify that the account details are correct prior to the submission of an EFT transaction.

Incorrect account and/or branch account numbers will be handled as follows:

  • If the error is detected by account holder's bank at the time of posting the transaction to the account, the item will be returned.
  • If a credit is paid to the incorrect account as a result of an incorrect account number being submitted, the User can request Direct Debit to assist with the recovery of the amount involved. Direct Debit is not under any obligation to assist beyond supplying the name and address of the person who was paid in error. The User must then seek recourse from the party concerned.
  • Users may not generate debit transactions to reverse a credit transaction or visa versa.
accuracy_of_data_provided.txt · Last modified: 2017/08/31 13:29 by Schuzelle Smit