DebiCheck is a secure debit order payment system that requires you to confirm your debit order details electronically at the start of your contract. This confirmation process is crucial to ensure that the debit order details are correct before any money is deducted from your account.
What is DebiCheck?
A DebiCheck debit order is a type of debit order that you confirm electronically on a once-off basis at the beginning of your contract. Its primary purpose is to allow you to verify the details of the debit order with your bank before it is processed. This step ensures that you are aware of and agree to the terms of the debit order, adding an extra layer of security to the transaction.
How to Handle Unauthorised DebiCheck Debit Orders
If you did not authorise a DebiCheck debit order, you have the right to dispute it. Here are the steps you can take:
- Disputing a DebiCheck Debit Order: If a DebiCheck debit order is processed without your authorisation, you can dispute it through your bank. It is important to act quickly to prevent further unauthorised deductions.
- Reversing a Normal Debit Order: If a normal debit order (not DebiCheck) is processed without your authorisation, you can reverse it through your bank.
Disputing a Registered Debit Order
You can dispute a registered debit order if it does not match the terms and conditions that you agreed to. However, it is also advisable to contact the service provider to stop the contract and prevent future debits.
How to Suspend a DebiCheck Mandate
If you have already accepted the DebiCheck debit order and wish to suspend it, you will need to contact the service or credit provider. Discuss your concerns with them and request to cancel the debit order.
Expiration of DebiCheck Mandates
An approved mandate will not expire if the creditor registers an electronic mandate at the start of a contract and does not use it for DebiCheck collections within a set period. The mandate will remain active until it is required or cancelled by the creditor.
Cancelling a DebiCheck Direct Debit
If you cancel a DebiCheck direct debit without the approval of the company, the company does not need to approve your cancellation unless the debit is connected to a contract or outstanding balance. In such cases, the company could take action against you if you do not fulfill your payment obligations.
Non-Reversible Debit Orders
Authenticated debit orders, which you have authorised using your card and PIN, cannot be disputed if the money deducted from your account matches the mandate.
Does a DebiCheck Mean My Loan is Approved?
DebiCheck is a secure system that allows you to electronically approve your debit order details with your bank. An approved DebiCheck debit order mandate is required to process your loan and collect monthly instalments. For example, with Wonga Loans, you will receive an SMS from ABSA requesting you to action a pending mandate. You can approve this mandate by dialing 1202272# and following the instructions.
DebiCheck Tracking
DebiCheck tracks your account for 10 days to ensure that there are sufficient funds available. If there is enough money in your account during this period, your account will be debited accordingly.
DebiCheck USSD Codes
Different banks have specific USSD codes for approving DebiCheck mandates:
- Standard Bank: Dial *120*2345#
- Capitec: Dial *120*3279# and select option 8: “Approve DebiCheck”
- Nedbank: Dial *120*001# and select DebiCheck by entering the number
- ABSA: Dial *120*2277# and select option 9
- FNB: Dial *120*321# and enter your 5-digit Cellphone Banking PIN
Conclusion
DebiCheck adds a layer of security to the debit order process by requiring you to electronically approve your debit order details. This system helps prevent unauthorised debits and ensures that you are aware of and agree to the terms of the debit order. By understanding how DebiCheck works and knowing the steps to dispute or suspend a mandate, you can manage your finances more effectively and securely.