Nedbank Debit Order
What is DebiCheck?
DebiCheck is an industrywide initiative that lets you approve your new debit orders – once-off and electronically – to prevent incorrect debit orders from coming off your account.
You can approve your debit order by instant message or SMS, through the Nedbank Contact Centre, at a Nedbank branch or ATM, or on a point-of-sale device. DebiCheck is designed to put you in control of your debit orders and to help you manage your money better.
An example of how DebiCheck works
- You have decided to join a gym. To become a member you need to sign a contract and agree to pay the membership fee, which will be debited monthly from your account, using DebiCheck.
- The new contract information is sent to the bank that holds the business account for the gym.
- The gym’s bank then contacts your bank.
- A DebiCheck mandate is created on your account, but not before your bank checks with you first.
- You receive a message from your bank to confirm the debit order information electronically.
- You electronically confirm the debit order information with your bank.
- You and your new gym now have a valid and confirmed DebiCheck debit order arrangement.
- Each month, the debit order is submitted to your bank by the gym’s bank.
- Your bank checks against the confirmed debit order mandate information before processing the debit order to your account.
The benefit to you
DebiCheck puts you in control of your debit orders and helps you manage your money better.