EFTCollections

EFT Collections

EFT Collections are traditional debit orders that allow businesses to collect funds directly from a debtor’s account—either as a once-off payment or on a recurring basis. To collect the funds, authorisation is required from the debtor. This can be obtained via a signed, electronic, or voice-recorded mandate. We offer this service to enable the secure recovery of funds via the electronic collections stream sponsored by the bank.

To ensure transparency and control you can monitor the progress of your collection instructions with real-time status updates. Our service includes features like auto-bumping; partial and straight-through processing; itemised or consolidated files; proof of collection and the management of unpaid transactions. Highly secure and very flexible, our Host-to-Host and API capability allows you to connect directly from internal systems or through trusted third-party providers.