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difference-between-eft-naedo-ac-card-collections [2020/06/05 13:00] (current)
Schuzelle van Wyk created
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 +====== Difference between EFT, NAEDO, AC & Card Collections ======
 +
 +
 +|<100% 20% 20% 20% 20% 20% >|
 +^            ^   EFT Debit Order     NAEDO Debit Order      Authenticated collection     Card Collection     
 +|**Definition**|Normal debit order|Normal debit order with tracking|Authenticating Mandate before collecting|Debit order directly form debit/credit card|
 +|**Limitation/Not allowed**|No share accounts|No splitting|No splitting|No shared accounts|
 +|**Maximum**      |Maximum 500,000 per transaction|Maximum 30,000 per transaction|Maximum 30,000 per transaction|-|
 +|**Cut off times**|2 day service:2 days before action date before 12:00|Must be submitted before 12:00|Must be submitted before 12:00|Same day before 15:00|
 +|      |Same day service: before 12:00 on action date|                                                                                                 |
 +|**When can a customer submit stop payment**|Immediately|**Stop Payment When:**|
 +|      |                                   |1.Bank account closed|        
 +|      |                                   |2.Bank account doesn't exist|   
 +|      |                                   |3.Bank account frozen|   
 +|      |                                   |4.Payment stopped|   
 +
  
difference-between-eft-naedo-ac-card-collections.txt ยท Last modified: 2020/06/05 13:00 by Schuzelle van Wyk