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Direct debits and collections

Direct debits and collections

Cutting costs while improving work procedures and optimising working capital are essential for any growing business.

Our Electronic Payment solutions offer your business a cost-effective and comprehensive range of domestic and cross-border payment solutions from a single platform.


 

Payment collection has a big impact on your cash flow and business growth. That’s why you need easy-to-use transactional solutions that enable you to improve your customer collections and manage your cash flow better.

Our understanding of the payment landscape across Africa, combined with our extensive experience and physical footprint throughout the continent, helps us offer you a range of innovative payment and collection solutions to meet your unique needs. 

Our Transactional Services offer direct debits, a transaction where your customer authorises you to collect money directly from their bank account through a mandate for an amount due on an agreed upon date. It’s typically used for collection of recurring payments, such as credit card and utility bills (even if the amounts vary from time to time). A direct debit is a flexible, holistic solution to remove the administrative burden from your business.

Our digital and physical payment solutions, such as Instant Payments, Mobile Money and SWIFT GPI Cross Border, open opportunities for you to transact anywhere while our collections capabilities, including electronic bill presentment, receipt referencing and direct debits, help you navigate the challenges associated with collecting money, ensuring that funds are received predictably and reliably and passed to your accounts swiftly and securely. 

Note: direct debit order collections are only available as local transactions, and only in the local domestic currency.

Collect payments from customers

Direct debit order collections are offered in three forms in different markets:

  • Collect upfront: You have access to the funds upfront, prior to the successful completion of the collection transaction. An approved credit facility is required with this model.
  • Value on success: You have access to the funds once the bank has successfully collected from the debtor.
  • Fixed dated: You have access to the funds after the maturity date set on the debtor has been reached.
Set up direct debits
  • Direct debit order collections are available for both ‘on-us’ (SBG) and ‘off-us’ (agent bank) transactions.
  • Direct debit order collections can be made on the following basis: ‘one-to-one’, ‘one-to-many’ and ‘many-to-many’.
  • The direct debit order collection functionality allows for the storing of debtor details online.
  • Direct debit order collections can be created 30 days in advance, where they will be stored in the system and released for payment on the defined action date.
  • Direct debit order collections are traceable back to the client, allowing for quick and easy reconciliation.
  • Payments initiated on Business Online after the published cut-off times for a particular day will automatically be warehoused and released for processing on the next business day.
  • To facilitate multiple (bulk) direct debit order collections, clients can upload payment batches online through a range of proprietary formats that can be audited and authorised.
Direct Debits FAQs
  •  
  • What documents do I need from my customer to set up a debit order collection?
    • You would need to comply with the necessary requirements specific to the country applicable, e.g. a signed mandate from the debtor authorising you to collect funds from their account.
  • How do I set up a debit order collection on Business Online?
    • You can submit a collection through Business Online by creating the collection online, importing a Transaction file containing the debtor information you wish to collect from or using the file upload facility for a bulk file.
  • How many debit order collections can I set up on my account?
    • There are no restrictions applicable to the number of debit order collections loaded to the account you are collecting the funds too.
  • How will I know that my debit order has been successfully processed?
    • Every transaction on Business Online has detailed transaction status feedback, which provides you with the status of the particular transaction. This includes unpaid reporting for debtor accounts not held with Standard Bank / Stanbic Bank, which contains information on why the collection may not have been successful.
  •  
  • Collect payments from customers
  • Set up direct debits
  • Direct Debits FAQs

Direct debit order collections are offered in three forms in different markets:

  • Collect upfront: You have access to the funds upfront, prior to the successful completion of the collection transaction. An approved credit facility is required with this model.
  • Value on success: You have access to the funds once the bank has successfully collected from the debtor.
  • Fixed dated: You have access to the funds after the maturity date set on the debtor has been reached.
  • Direct debit order collections are available for both ‘on-us’ (SBG) and ‘off-us’ (agent bank) transactions.
  • Direct debit order collections can be made on the following basis: ‘one-to-one’, ‘one-to-many’ and ‘many-to-many’.
  • The direct debit order collection functionality allows for the storing of debtor details online.
  • Direct debit order collections can be created 30 days in advance, where they will be stored in the system and released for payment on the defined action date.
  • Direct debit order collections are traceable back to the client, allowing for quick and easy reconciliation.
  • Payments initiated on Business Online after the published cut-off times for a particular day will automatically be warehoused and released for processing on the next business day.
  • To facilitate multiple (bulk) direct debit order collections, clients can upload payment batches online through a range of proprietary formats that can be audited and authorised.
  •  
  • What documents do I need from my customer to set up a debit order collection?
    • You would need to comply with the necessary requirements specific to the country applicable, e.g. a signed mandate from the debtor authorising you to collect funds from their account.
  • How do I set up a debit order collection on Business Online?
    • You can submit a collection through Business Online by creating the collection online, importing a Transaction file containing the debtor information you wish to collect from or using the file upload facility for a bulk file.
  • How many debit order collections can I set up on my account?
    • There are no restrictions applicable to the number of debit order collections loaded to the account you are collecting the funds too.
  • How will I know that my debit order has been successfully processed?
    • Every transaction on Business Online has detailed transaction status feedback, which provides you with the status of the particular transaction. This includes unpaid reporting for debtor accounts not held with Standard Bank / Stanbic Bank, which contains information on why the collection may not have been successful.
  •