Settlement of Debit Orders into your banking account

Settlement of Debit Orders into your banking account

Once your debit orders batch is processed, all transactions will show as 'Complete'. After this the status might change to Unpaid (ie. because of insufficient funds, invalid account or the customer rejecting the debit order).

Settlements into your account:


Payout Terms - EFT Debit Orders


  • After 5 working days: 90% of your successful debit orders is settled to your account;
  • After 22 days: 100% of your successful debit orders is settled to your account;
  • The transaction fees are invoiced monthly in arrears and will be debited directly from your settlement account.
  • The transaction fees can be Paid via EFT upon the presentation of an invoice, however by special arrangement as agreed between Rapid Pay Collect and the merchant/ultimate creditor/client.


 

Payout Terms - DebiCheck 

  • Once the batch(es) is completed, i.e. Tracking days fulfilled.


If you want to apply for a facility with Rapid Pay Collect, please find our Application Form attached hereto.

Please email our Sales Team at: sales@rapidpaycollect.co.za with the fully completed application form as well as the supporting documents as requested.


For your convenience, we have also attached our API Specifications document, for Debit Order Collections and Payments, for integration into your own software systems>>>> See attached API Technical Specification Document.

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