Debit Order Facilities

We provide a debit order collection service to companies who need to collect debit orders from their customers on a monthly basis.

This service is normally very difficult to obtain from the banks as you will be required to lay down a deposit (normally around the value of R10000 or more) and guarantee the bank a specified debit order amount or number of monthly debit orders. By offering your monthly clients the option of a debit order, you will reduce your monthly debtors and guarantee yourself month end income and cashflow. Don't rely on client promises to pay via EFT, take the hassles away by providing them with a debit order service.

With WAPPoint, you will not have no minimum debit order requirements. We will process your debit orders and make an 80% payment to you on the 4th business day after the debits have been processed. The remaining 20% will be held back for one month and paid out with the following month's debit orders. This is to ensure that any failed debit orders which may occur, are covered by the retainer amount. Companies who can benefit from the debit order service: Service based businesses ie Insurance, Magazine Subscriptions, Schools, Garden Services etc

How it works:

Each debit order client will be required to complete our debit order form. This provides you with their debit order banking details as well as their permission to debit their bank account on a monthly basis. We will then provide you with a pre-compiled excel spreadsheet which you must populate with each of your debit order clients' bank details and debit amounts. As your debit order clients change, you will need to update the spreadsheet. On a monthly basis, you will be required to submit the relevant month end spreadsheet to our accounts department before the 21st of the month. Without this, we will not be able to upload your debit orders. We will then schedule your debit orders to go off on the 1st of the month (unless the 1st falls on a public holiday or weekend, the next business day will apply). We will pay out 80% of the debit batch value on the 4th business day and retain 20% of the debit batch value for one month. If you require additional debit order dates, we can arrange these to suite your specific needs.

Please contact us for detailed pricing





Call us on: 086-121-0-121

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