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what_must_a_naedo_debit_order_mandate_contain [2015/09/30 10:25]
Jaco van Wyk created
what_must_a_naedo_debit_order_mandate_contain [2019/03/08 11:52] (current)
Kyle Liebenberg
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 The notice must reflect the User’s new abbreviated name/ agreement reference and must be kept as an addendum to the mandate. The notice must reflect the User’s new abbreviated name/ agreement reference and must be kept as an addendum to the mandate.
-  + 
-Mandates are revoked under the following conditions:​ +|< 100% >| 
-  +^Mandates are revoked under the following conditions: 
-  - Stop payment +|Stop payment| 
-  ​- ​Direct instruction from the customer to the user +|Direct instruction from the customer to the user| 
-  ​- ​Terminated services +|Terminated services| 
-  ​- ​Changes to the conditions under which the mandate was given +|Changes to the conditions under which the mandate was given| 
-  ​- ​If the debit order is unpaid on two consecutive occasions +|If the debit order is unpaid on two consecutive occasions| 
-  ​- ​Account closed+|Account closed|
  
 Users must retain such authority, for a period of (5) five years, after payments have ceased. If a customer disputes a transaction it is the responsibility of the User to provide proof of the mandate even though the payments have ceased, or be liable for the claim. Users must retain such authority, for a period of (5) five years, after payments have ceased. If a customer disputes a transaction it is the responsibility of the User to provide proof of the mandate even though the payments have ceased, or be liable for the claim.
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 ===== Paper Mandates ===== ===== Paper Mandates =====
  
-Mandates must conform to the minimum requirements as specified+===Mandates must conform to the minimum requirements as specified===
-  +
-==== 1. Agree the following information with the customer: ==== +
-  +
-  * Account number  +
-  * Type of account +
-  * Branch number  +
-  * Abbreviated short name +
-  * Contract reference  +
-  * Frequency of debit +
-  * Action date +
-  * Start and termination date +
-  * Beneficiary name +
-  * Beneficiary contact details  +
-  * Amount  +
-  * Escalation of amount +
-  * Variable amounts +
-  * Maximum limits+
  
-==== 2Inform ​the customer of the specific points as stipulated on the specimen form. ====+|< 100% >|  
 +^1Agree the following information with the customer:^ 
 +|Account number|  
 +|Type of account| 
 +|Branch number|  
 +|Abbreviated short name| 
 +|Contract reference|  
 +|Frequency of debit| 
 +|Action date| 
 +|Start and termination date| 
 +|Beneficiary name| 
 +|Beneficiary contact details|  
 +|Amount|  
 +|Escalation of amount| 
 +|Variable amounts| 
 +|Maximum limits|
  
-==== 3Identify and indicate ​the Agreement from where the amounts payable will be calculated: ==== +|< 100% >| 
-  +^2Inform ​the customer ​of the specific points as stipulated on the specimen ​form.^
-  * indicate the payment cycle for payment; +
-  * indicate the first date of payment; and +
-  * indicate that the amounts payable will be paid, using payment instructions collectable from available funds held by the account holder’s bank in the form of a monetary claim in the account of the account holder +
-  +
-==== 4. Obtain authority to debit. ==== +
-  +
-==== 5. A copy of the signed mandate must be provided to the account holder prior to any debit being processed to the account of the account holder in terms of the mandate====+
  
-==== 6. The mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer. ​====+|< 100% >| 
 +^3. Identify and indicate the Agreement from where the amounts payable will be calculated:​^ 
 +|indicate the payment cycle for payment| 
 +|indicate the first date of payment| 
 +|indicate that the amounts payable will be paid, using payment instructions collectable from available funds held by the account holder’s bank in the form of a monetary claim in the account of the account holder| 
 + 
 +|< 100% >| 
 +^4. Obtain authority to debit.^ 
 + 
 +|< 100% >| 
 +^5. A copy of the signed mandate must be provided to the account holder prior to any debit being processed to the account of the account holder in terms of the mandate.^ 
 + 
 +|< 100% >| 
 +^6. The mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer.^
    
 ===== Voice-Recorded Mandates ===== ===== Voice-Recorded Mandates =====
  
-Voice-recorded mandates are to comply with the following criteria:  +|< 100% >| 
- +^Voice-recorded mandates are to comply with the following criteria: 
-  - The details as set out in the specimen voice recorded mandate must be obtained from a customer. +|The details as set out in the specimen voice recorded mandate must be obtained from a customer.| 
-  ​- ​The voice recorded mandate must be confirmed to the account holder in writing to the account holder within 21 days of the taking of the mandate and prior to any debit payment instructions being processed to the account of the account holder +|The voice recorded mandate must be confirmed to the account holder in writing to the account holder within 21 days of the taking of the mandate and prior to any debit payment instructions being processed to the account of the account holder 
-  ​- ​A customer must be made aware of the fact that his/her voice is being recorded and that the recorded message will be accepted as the official authority to debit +|A customer must be made aware of the fact that his/her voice is being recorded and that the recorded message will be accepted as the official authority to debit 
-  ​- ​A customer must be made aware of the unique contract reference and abbreviated short name to be reflected on the account holder’s bank statement +|A customer must be made aware of the unique contract reference and abbreviated short name to be reflected on the account holder’s bank statement| 
-  ​- ​The use of Voice recorded mandates must be approved by the Bank prior to the commencement of processing +|The use of Voice recorded mandates must be approved by the Bank prior to the commencement of processing 
-  ​- ​Recording devices must be reliable and with acceptable acoustic quality (preferably SABS approved) +|Recording devices must be reliable and with acceptable acoustic quality (preferably SABS approved) 
-  ​- ​The recorded messages must be properly indexed for easy accessibility to promptly deal with enquiries and disputes. +|The recorded messages must be properly indexed for easy accessibility to promptly deal with enquiries and disputes| 
-  ​- ​On request from the Bank, a recording of the mandate must be produced within 10 days of receipt of such request. +|On request from the Bank, a recording of the mandate must be produced within 10 days of receipt of such request| 
-  ​- ​The voice mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer.+|The voice mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer|
  
 ===== Electronic Mandates ===== ===== Electronic Mandates =====
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 Digital mandate authorisations are stored in a tamper proof vault (in the cloud), keeping you protected from future customer disputes. Digital mandate authorisations are stored in a tamper proof vault (in the cloud), keeping you protected from future customer disputes.
  
-The cloud-based electronic debit order mandate solution which allows your customers to sign and authorise your debit order mandate from anywhere and on any device+|< 100% >| 
-Some notable features include:+^The cloud-based electronic debit order mandate solution which allows your customers to sign and authorise your debit order mandate from anywhere and on any device^
  
-  * Electronic acceptance and signing of the mandate on any device (computer, tablet or smart-phone) +|< 100% >| 
-  ​* ​Advanced signature authentication +^Some notable features include:^ 
-  ​* ​Fully customisable (your own terms and form fields to complete) +|Electronic acceptance and signing of the mandate on any device (computer, tablet or smart-phone)| 
-  ​* ​Pre-complete mandate by sending us your customers information in the URL as query string +|Advanced signature authentication| 
-  ​* ​Storage and backup of the mandate in encrypted PDF format +|Fully customisable (your own terms and form fields to complete)| 
-  ​* ​Sign up new customers anywhere and from any device +|Pre-complete mandate by sending us your customers information in the URL as query string| 
-  ​* ​Easy integration with existing systems+|Storage and backup of the mandate in encrypted PDF format| 
 +|Sign up new customers anywhere and from any device| 
 +|Easy integration with existing systems|
  
-==== 1. Mandates must conform to the minimum requirements as specified: ​====+|< 100% >| 
 +^1. Mandates must conform to the minimum requirements as specified:
 +|Account number|  
 +|Type of account| 
 +|Branch number|  
 +|Abbreviated Short name| 
 +|Contract Reference | 
 +|Frequency of debit| 
 +|Action date| 
 +|Start and termination date| 
 +|Beneficiary name| 
 +|Beneficiary contact details|  
 +|Amount|  
 +|Escalation of amount| 
 +|Variable amounts|
  
-  * Account number ​ +|< 100% >| 
-  * Type of account +^2. Inform the customer ​of the specific points as stipulated on the specimen form.^
-  * Branch number  +
-  * Abbreviated Short name +
-  * Contract Reference  +
-  * Frequency of debit +
-  * Action date +
-  * Start and termination date +
-  * Beneficiary name +
-  * Beneficiary contact details  +
-  * Amount  +
-  * Escalation of amount +
-  * Variable amounts ​+
  
-==== 2. Inform the customer of the specific points as stipulated on the specimen form. ==== +|< 100% >| 
- +^3. Identify and indicate the Agreement from where the amounts payable will be calculated.^ 
-==== 3. Identify and indicate the Agreement from where the amounts payable will be calculated; ==== +|indicate the payment cycle for payment| 
-  +|indicate the first date of payment| 
-  ​* ​indicate the payment cycle for payment; +|indicate that the amounts payable will be paid, using payment instructions collectable from available funds held by the account holder’s bank in the form of a monetary claim in the account of the account holder|
-  ​* ​indicate the first date of payment; and +
-  ​* ​indicate that the amounts payable will be paid, using payment instructions collectable from available funds held by the account holder’s bank in the form of a monetary claim in the account of the account holder ​+
  
-==== 4. Obtain authority to debit through an electronic signature. ​====+|< 100% >| 
 +^4. Obtain authority to debit through an electronic signature.^
  
-==== 5. A copy of the signed mandate must be provided to the account holder prior to any debit being processed to the account of the account holder in terms of the mandate. ​====+|< 100% >| 
 +^5. A copy of the signed mandate must be provided to the account holder prior to any debit being processed to the account of the account holder in terms of the mandate.^
  
-==== 6. The mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer. ​====+|< 100% >| 
 +^6. The mandate must make mention of tracking and state that tracking will be implemented on account at no cost to the customer.^
    
what_must_a_naedo_debit_order_mandate_contain.1443608735.txt.gz · Last modified: 2015/09/30 10:25 by Jaco van Wyk