Direct Credit

Payment by Direct Credits is an inexpensive and efficient way of making payments to various beneficiaries in respect of e.g. salaries and settlement of bills for payments and services.

Direct Credits reduces your administrative costs in issuing cheques.

• You pay your beneficiaries on any given date
• Funds are credited to beneficiaries on the same day that your account is debited
• Payments can be made to beneficiaries at other Banks
• You submit payment instructions electronically from your office via file transfer.
• You can subsequently reconcile the bulk debit on your account against the file total.
• We will provide you with specifications for the file transfer
• We will provide you with an agreement that you will need to sign prior to taking up service
• You will require a modem to transfer files electronically
• Files must contain 10 or more payments
• Manual instructions are accepted (10 or more payments)