Manage account

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Index

Request release funds

The release funds option allows you to release your available funds that is in your Netcash account into your bank account that is linked to your Netcash account.

 

  • Select Services
  • Click on Account from the dropdown menu
  • Click on Manage account > Request release funds
  • Click on the Release funds button
  • Your available balance is displayed
  • Select Release all available funds or Release own amount
  • Click on the Release funds button

  • Funds are released to your bank account linked to your Netcash profile

Note:

  • The amount available for release is finalized after 13h00 on the day of release.
  • Funds will be available in your bank account the next day and will reflect the date on which the release was requested
  • Authorisation cut-off time is 14h30 on the payment day.
  • Valid payment dates are Monday to Friday (excluding public holidays)

Inter-account transfer

This Functionality allows you transfer funds across your Netcash accounts, from your main account to your sub accounts or from your sub accounts to your main account.

 

  • Select Services
  • Click on Account from the dropdown menu
  • Click on Manage account > Inter-account transfer
  • Click on the Transfer to account drop-down box > select the receiving account
  • Insert the amount to be transferred
  • Insert a reference for the receiving account
  • Click on Transfer funds

Netcash account transfer

Transfer funds to other Netcash accounts.
Navigate to Services/Account/Manage Account/ Netcash account transfer

 

Click on Add New
1. Insert the account number for the funds to transfer.
2. Add Amount
3. Add Beneficiary reference
4. Insert Extra fields if required for reconciliation
5. Click on Submit

 

Click on Transfer funds button
1. Please select the transfer(s) that you would like to perform
2. Click on the transfer funds button
3. Select the Entry values checked and verified box
4. Enter the One Time PIN that was sent to your mobile phone
5. Click on Authorise

 

Funds will reflect momentarily in the recipient’s Netcash account. Details can be viewed on the Netcash statement for both the transferer and recipient.

Release funds history

  1. Select Services.
  2. Click on Account from the dropdown menu.
  3. Click on Manage account > Release funds history.

Netcash clearing accounts

  1. Select Services.
  2. Click on Account from the dropdown menu.
  3. Click on Manage account > Netcash clearing accounts.
  4. Select the bank from the drop-down menu to which you will be making payment
  5. The Netcash bank account details for that particular bank will be displayed
  6. Please use the correct deposit reference
  7. Click on the Print details button to print to PDF
  8. Click on Bank Letter button to download a Bank account confirmation letter for the bank selected

Advance settlements

Early Settlements (Advance Settlements) allow you to access the proceeds of your Debit Order collections before the action date, against Authorised Debit Order batches. The Early Settlement amount will be calculated by deducting the security and unpaid retention amounts from the Debit Order batch value. 

 

To access the Early Settlements feature, you will be required to accept the “Purchase of Future Receivables” terms, which are an annexure to your Netcash Master Agreement. By accepting these terms, you understand that Netcash is buying the future receipts/receivables of the Debit Order batch in question. The amount due to Netcash when the batch is processed will be the same as the amount that will be credited to your Netcash account when early settlement is requested. A document fee will be levied by Netcash for this service.

 

The available amount is equal to the batch value minus the security and unpaid Retentions for the batch. It includes authorised Debit Order batches that are future dated.

 

Only batches with action dates within 15 days of the current date will be available for Advance settlements. Once an advance has been granted, the relevant debit batch cannot be unauthorised.

Notes:

  • Advances are requested per batch.

  • The request cannot exceed the available amount and may not be less than the advance fee.

Requesting an Advance Settlement

  • Navigate to Services > Account > Manage account > Advance settlements.

  • Click on the Request button next to the debit batch you would like to advance.

Remember to allocate permissions to users requiring this service (The batch name and available amount will be prepopulated)

 

  • Enter the amount to be advanced.
  • Click on Submit.
  • The fee for the advance is displayed.
  • Click on the textbox to accept the Terms and Conditions. (Click on accept terms and conditions hyperlink to view the Terms and conditions)
  • Click on Submit.

View Advanced amount on your Netcash statement.

 

To view available funds, navigate to Services >Account >Reports >Statement.

Transaction type displayed on the statement: Advance settlement.

 

View Advance Settlements History

 

Select between Current advances and Previous advances.

Click on the icon next to the advance settlement to view the history.

 

Columns include:

  • Date.
  • Batch name.
  • Amount.
  • Authorised by.
  • Click on the printer icon to view the terms and conditions.
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