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list-of-debit-order-definitions [2020/06/15 14:10]
Schuzelle van Wyk [EFT] 		list-of-debit-order-definitions [2020/06/22 12:44]
Schuzelle van Wyk
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 ====== List of debit order definitions ====== ====== List of debit order definitions ======
  
-The list of debit order definitions include [[https://www.directdebit.co.za/|EFT, NAEDO]] and Authenticated Collection ([[https://www.directdebit.co.za/debicheck|DebiCheck]]) payment stream definitions.+The list of debit order definitions include [[https://www.directdebit.co.za/|EFT, NAEDO]] and ([[https://www.directdebit.co.za/debicheck|DebiCheck]]) payment stream definitions.
  
 For any queries regarding any of the terms please feel free to **[[[email protected]|contact]]** us. If you want to signup for our service do go to our [[https://www.electronicmandate.com/directdebit/signup/|Online Application]] page. For any queries regarding any of the terms please feel free to **[[[email protected]|contact]]** us. If you want to signup for our service do go to our [[https://www.electronicmandate.com/directdebit/signup/|Online Application]] page.
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 |Customer|Any person to whom the User is paying money, or from whom the User is collecting money through the Service.| |Customer|Any person to whom the User is paying money, or from whom the User is collecting money through the Service.|
 |Credit Order/Credit Entry/Credit Transaction (including Credit when used as a noun)|An instruction from the User to a bank, presented in the form of an electronic record, to pay money to a client; e.g. salaries, pensions, creditors, dividends etc.| |Credit Order/Credit Entry/Credit Transaction (including Credit when used as a noun)|An instruction from the User to a bank, presented in the form of an electronic record, to pay money to a client; e.g. salaries, pensions, creditors, dividends etc.|
-|Debit Order/Debit Entry/Debit Transaction (including Debit when used as a noun)|A mandated payment instruction from the user to a bank, presented in the form of an electronic record, to collect money from a client; e.g. insurance premiums, unit trust investments, hire purchase payments, rentals etc.|+|Debit Order/Debit Entry/Debit Transaction (including Debit when used as a noun)|A mandated payment instruction from the User to a bank, presented in the form of an electronic record, to collect money from a client; e.g. insurance premiums, unit trust investments, hire purchase payments, rentals etc.|
 |Disputed Item|Authority of processed payment instruction has been disputed by the account holder.|  |Disputed Item|Authority of processed payment instruction has been disputed by the account holder.| 
-|EFT|Short for Electronic Funds Transfer.|+|EFT|Short for Electronic Funds Transfer and refers to the EFT debit order payment stream.|
 |File|A defined formatted batch of EFT transactions, which is a self-balancing entity submitted electronically for processing into the EFT system.| |File|A defined formatted batch of EFT transactions, which is a self-balancing entity submitted electronically for processing into the EFT system.|
 |Homing Account|Client’s account at a bank into which credits will be paid or from which debits will be drawn.| |Homing Account|Client’s account at a bank into which credits will be paid or from which debits will be drawn.|
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 |User Data Set|A number of transactions, all having the same user code, and organised into a self contained defined formatted batch.| |User Data Set|A number of transactions, all having the same user code, and organised into a self contained defined formatted batch.|
 |Vet Date|The same as processing date.| |Vet Date|The same as processing date.|
-|Vet Report/Input|A report confirming that the data set has been processed and detailing all errors which have been detected.| +|Vet Report/Input|A report confirming that the data set has been processed by Bankserv. The VET report also details all errors which have been detected.| 
-|Working Days|Mondays to Fridays excluding public holidays for the two-day service and Mondays to Saturdays excluding public holidays for the same day service.|+|Working Days|Monday to Saturday excluding Sunday and public holidays for the Two-Day service and Monday to Saturday excluding Sunday and public holidays for the Same Day service.|
  
 ===== NAEDO ===== ===== NAEDO =====
list-of-debit-order-definitions.txt · Last modified: 2020/06/22 13:48 by Schuzelle van Wyk

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