Netcash Creditor Payment Service

Organisation : Netcash
Facility Name : Creditor Payment Service
Country : South Africa
Website : https://netcash.co.za/services/creditor-payments/

What is Netcash Creditor Payment Service?

A reliable and simple way to pay your creditors. Paying suppliers can be time-consuming and admin intensive. Netcash provides you with a single, secure account to make all of your business payments. Integrate Netcash with your existing accounting or billing software to make creditor payments more efficient than ever before.

Related / Similar Facility : Netcash Salary Payment Service

Why Use Netcash For Creditor Payments?

Save Time:
Avoid unnecessary last-minute payment rejections with bank validation. Now, you have the peace of mind that all payments will be accepted by the banks on payday.

Extra security:
You have full control over the security of your account. Dictate the levels of access, the number of authorisers per payment batch, and use One Time Pins (OTPs) or 2 Factor authentication to authorise payments.

Save Money:
Take advantage of our discounted transaction fees when you process creditor payments. The higher your transaction volume, the more you save

Increase accuracy:
Accuracy is of utmost importance when making payments, which is why we ensure that you pay the correct bank account every time by using our bank account verification service.

Be in control:
Stay in the loop. Netcash provides extensive reporting including statements, batch, and audit reports, as well as payment notifications, so you’re never left in doubt.

Greater flexibility:
Our Dated Payments service ensures all creditors receive their funds on the same day, at the same time, regardless of their bank. Need more speed? Use Real-Time Clearance (RTC) for 15-minute transfers – ideal for urgent payments and cash flow control.

FAQ On Netcash Creditor Payment Service

Frequently Asked Questions FAQ On Netcash Creditor Payment Service

What is the difference between Dated and Same day payment?
All beneficiaries receive funds to their bank account on the payment action date irrespective of where the bank account is held. Perfect for salary and wage payments. Same day: Funds will be available in the beneficiaries bank account the next day, value-dated for the (same day) payment date.

On which days can payments be made?
Monday to Saturday, excluding public holidays. Same-day: Mon – Fri, excl. public holidays.

How do I fund my Netcash account in order to process my payments to beneficiaries?
Simply pay your total payment batch value into your Netcash account by funding one of our clearing accounts held at major South African banks. If you’re an existing Netcash client, login to your account to see these account details, and choose the one suitable for your business. New to Netcash? Chat to us for more information.

How do I know my payments will reach my beneficiaries on payment date?
Netcash bank account validation service will prevent last-minute rejections at the bank. Our bank account verification services (AVS) ensures that you are making payment to the correct beneficiary by matching the bank account number to an ID number or company registration number.

Can I automate creditor payments?
Yes, depending on the software integration you are using, you are able to automate creditor payments. Chat to us for more information.

How do creditor payments differ from debit orders?
Creditor payments are outgoing funds from your business – this is when you owe a third-party funds. With creditor payments, you can pay businesses and individuals, on an ad-hoc or recurring basis. Debit orders are incoming funds for your business, sometimes referred to as a payment collection. Memberships and insurance premiums are examples of common debit orders, where a business collects funds on a recurring basis from its clients’ bank accounts. Debit orders require a mandate to be valid, whereas creditor payments are usually invoice-based.