EFT Direct Debit Transfers Option

EFT Direct Debit Transfer Option facilitates the transfer of money for school fees from the parents’/guardians’ accounts to the educational institutions’ accounts electronically, after the customer has executed a Direct Debit Agreement (DDA). The DDA, when executed, authorizes the bank to remit school fees money from the parent’s/guardian’s bank account through electronic transfer to the educational institutions bank account.

Product Features

  • Same as EFT under above

Benefits

  • All the benefits under 4.4 above
  • Hustle free, convenient payment of school fees
  • Saves time for the customer – no lining up in time-taking queues to pay school fees
  • Minimizes the risk of loss of money through conmen and unscrupulous children
  • Reconciliation process is automated which makes it easier for bot the customer and the bank to trace the payments
  • Eliminates the presentation of forged/fake bank slips by students to parents/ guardians or to schools, thus helping the customer

Requirements

  • As above
  • Direct Debit Agreement with the bank

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