EFT (Electronic Funds Transfer)

By: Direct Debit  07-22-2012
Keywords: Debit Order, Payment System, Debit Order Collection

EFT debit orders are made possible via BankservAfrica. BankservAfrica developed a bulk electronic transaction processing system for daily clearing and settlement of debit orders and direct credit payments. The EFT service is available to all businesses and enables fast and efficient processing of salaries, account payments and debit orders. EFT debit orders are generally more cost effective than AEDO or NAEDO debit orders and also feature a higher collection limit of R500,000.00 per instruction compared to the R5,000.00 per debit for AEDO as well as NAEDO debit order instructions.

Keywords: Billing System, Debit Order, Debit Order Collection, debit order company, debit order services, eft credit, eft debit, Payment System,

Other products and services from Direct Debit


Billing System

We integrate with a billing system for a comprehensive billing solution that ties in with our debit order services and features full invoicing, client management and automated debit order batch generation/submission.


Payment System

Our payment system is suitable for most businesses to manage debit order collections and request account holder verifications.


AHV (Account Holder Verification)

Account holder verification (AHV) is a service that allows you to verify whether a natural person claiming to be is indeed the holder of a specific bank account.


AEDO (Authenticated Early Debit Order)

Authenticated Early Debit Order (AEDO) is supported by many banks and is a safer debit order collection method as transactions may not be disputed.


NAEDO (Non-authenticated Early Debit Order)

Non-Authenticated Early Debit Order (NAEDO) aims to level the electronic debit order collection playing field by creating an equal opportunity for creditors to collect funds from their debtors.