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when_can_a_customer_initiate_a_naedo_stop_payment

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when_can_a_customer_initiate_a_naedo_stop_payment [2015/09/30 10:12] (current)
Jaco van Wyk created
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 +====== When can a customer initiate a NAEDO stop payment? ======
  
 +Customers are entitled to revoke NAEDO mandates previously issued and once such NAEDO mandate is revoked, no future NAEDO payment instructions may be submitted by the User until such time as a new NAEDO mandate is obtained from the Customer.
 +
 +Where a returned item is marked "​Payment Stopped",​ the authority under which it was processed is deemed to be revoked and the user must ensure that no further transactions are processed under the authority concerned. If the user succeeds in getting an agreement from the customer to continue payments, the user should impress on the customer that he must cancel the stop payment instruction held by his bank. Non-cancellation will result in the transaction being returned.
 + 
 +1. The User will cancel all NAEDO payment instructions relating to any Customer and will cease to submit these NAEDO payment instructions to the BANK when the response message received on any of the NAEDO payment instructions for that:
 +
 +  * Bank Account Closed  ​
 +  * Bank Account does not exist 
 +  * Bank Account frozen  ​
 +  * Payment stopped ​
 +
 +2. When an account holder places a Stop Payment for a NAEDO debit with their bank, the User will receive notification of the Stop Payment.
when_can_a_customer_initiate_a_naedo_stop_payment.txt ยท Last modified: 2015/09/30 10:12 by Jaco van Wyk