There have been bad behaviour by some companies that process invalid debit orders to consumer bank accounts. In addition, there are consumers that avoid paying valid debit orders by unfairly disputing these with their banks.
As a result, the Reserve Bank has asked PASA, which includes the South African banks, to find a solution. This is why DebiCheck is being introduced as the new secure debit order platform.
Read more on DebiCheck here: PASA DebiCheck
DebiCheck for Debt Counsellors on Finwise
Debt Management System
Many Debt Counsellors are already using DebiCheck on Finwise for secured debit order collections. Finwise is ready and developed to provide DebiCheck.
How to load on Finwise
To load/convert a DebiCheck debit order on Finwise is straight forward and easy. Our training agents are ready to assist our Debt Counsellors with information and training support on DebiCheck. Finwise agents will provide detailed step-by-step training and DebiCheck manual.
When you upload a new debit order via Finwise, the consumer will receive a notification the following morning via push notification or SMS. The consumer is then required to authorise the mandate by 20h00 that same day - via his banking app, ATM or internet banking.
Finwise DebiCheck Report gives Debt Counsellors full control and quick results on DebiCheck successes or errors.
DebiCheck for Consumers
South Africans use debit orders as a convenient way to pay accounts.
To reduce the risk of unauthorised debit orders on consumer accounts, the Reserve Bank together with PASA, and the South African banks, introduced DebiCheck as a solution. DebiCheck will be the new debit order platform for secure debit order payments in South Africa.
A DebiCheck debit order is a debit order which is electronically confirmed by the consumer, via one of the following methods; his banking app, online banking, SMS/USSD or ATM.
The consumer will receive a notification via push notification or SMS. The consumer must authorise the mandate by 20h00 that same day - via his banking app, ATM or internet banking.
In our industry the Debt Review debit orders will also be changed over soon to DebiCheck to be compliant and secure. All Naedo debit orders will be phased out eventually, and DebiCheck will be the preferred platform for debit orders.
It’s important to ensure your cell phone number of the consumer is updated with the bank.
Should you want to sign up with Finwise and DebiCheck contact us: firstname.lastname@example.org or 044 873 4530.