https:/help.netcash.co.za/docs/account-profile/debit-orders/manage-debit-orders/#view-and-edit-a-debit-order-batch

https:/help.netcash.co.za/docs/account-profile/debit-orders/manage-debit-orders/#view-and-edit-a-debit-order-batch

https://help.netcash.co.za/docs/account-profile/debit-orders/service-profile/#group-1

https://help.netcash.co.za/docs/account-profile/debit-order/manage-debit-orders/#authorising-a-debit-order-batch

https://help.netcash.co.za/docs/account-profile/debit-orders/manage-debit-orders/#master-file

Retention amounts are not paid out to the merchant bank account. Any remaining amount is released to your Netcash account to form part of the available balance. The balance of any security and unpaid retention becomes available 22 working days after the action date of the batch.

https://help.netcash.co.za/docs/account-profile/debit-orders/debit-order-service-guide/#Retenrtions

https://help.netcash.co.za/docs/account-profile/debit-orders/manage-debit-orders/#debit-batches

This is the amount being retained from the batch value to cover returned transactions. The percentage is calculated on the average returns on batches for the past 6 months. If the value of the unpaid transactions in a batch is lower than the amount being retained, any remaining balance will become part of the available balance after 22 working days. However, if the total of the unpaid transactions is higher than this percentage then, as mentioned above, the extra unpaid value will be refunded out of the 10 percent surety retention. Since we have no transaction history on the first batch, the unpaid retention for this first batch will be applied at 10 percent. Thereafter the retention will be based on the calculated unpaid history on the account.

https://help.netcash.co.za/docs/account-profile/debit-orders/retentions/This is the amount being retained as surety to be provided to the banks against the value of your batch. Security, in effect, is a minimum liquidity level that we must provide to our bankers in order to be able to process debit orders. It is also used as additional cover for late returned transactions not provided for in your unpaid retention.

Security retention is calculated as 10 percent of the debit order batch where the legal entity is a company or close corporation. Where the legal entity is a sole proprietor, the 10 percent security will not apply.  Because of the potentially higher risk associated with recovering funds from sole proprietors, Netcash will retain 100 percent of the value of any batch processed which will be released to form part of the available balance after 22 working days.

Quick Start Guide:

Retentions

This is dependent entirely on how quickly the regulators complete their part of the process. However, we normally begin our follow up 72 hours after submission of the documentation. That be said, the timeline for completion is entirely in the hands of the regulators.

Whenever a debit order batch is processed, Netcash is exposed to risk because of the possibility of unpaid debit orders being returned days, sometimes weeks, after the funds have been remitted to our merchant. Unlike a bank which does a detailed financial analysis to determine a potential client’s creditworthiness, Netcash opens accounts based on information provided at the time of application. Given that we are not experts in the area, we are unable to determine a business’s underlying fundamentals and, to that end, mitigate our risk exposure by requiring that personal security be signed.