Do you want to be in control of your debit orders?
The biggest financial industry collaboration in recent years is ramping up across South Africa.
Debit order abuse has been on the rise over the past few years, with an alarming increase in debit orders that are processed to bank accounts without permission from consumers. This is a concern not only for consumers and the banks in South Africa, but to the Reserve Bank. For this reason, they sought the assistance of PASA (Payments Association of South Africa), in finding a solution. All South African banks have collaborated with PASA to create DebiCheck.
The solution is DebiCheck; a new way for you as a consumer to electronically confirm your debit orders. This also means that your bank will now know the details of what you have agreed to and will not allow your DebiCheck to be processed outside the terms agreed to by you.
What does it mean for you?
It means that you may be introduced to a new additional process to electronically confirm your debit orders. Your transactional bank will communicate with you directly. To watch a short video about DebiCheck and how it works click here
Be in the know
DebiCheck will be rolled out in a phased approach over the next two to three years. It is not an app, a service you can subscribe to, nor is it a replacement of your current debit orders - but a way to help you protect your money.
The DebiCheck website is equipped with a library of information to assist you on this journey so that you are always informed. The FAQ section provides all the guidance you may need to gain better understanding about DebiCheck. You can also follow the DebiCheck journey here.
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.