What happens to Debit Orders on the Action date?

What happens to Debit Orders on the Action date?

Debit Order Proceeds (Credits)

Early on the Action date, 1Day and 2Day debit orders credit the Nominated account (either Rapid Pay Collect or the Client's account) with the full amount of the batch. In the case of SameDay batches, the Nominated account is credited in the late afternoon of the Action date.

Debit Order Collections (Debits)

For all service types (SameDay, 1Day and 2Day), the debits on the homing accounts (debtor accounts) take place in the late afternoon of the Action date. This is after the afternoon payment update, and after NAEDO and AEDO (Now, Debicheck) have run. Note that NAEDO and AEDO [DEBICHECK] (the early debits) first run in the early morning of the Action date immediately after the early morning payment update, so they have considerable priority over EFT debit orders.


Unpaids

Unpaids start coming in on the action date and are delivered early each morning for up to 5 days after the Action date. And after that, unpaid disputes can continue.


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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