Manage account

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Index

Request release funds

The release funds option allows you to release your available funds in your Netcash account into your business bank account (the bank account that is linked to your Netcash account)

 

Navigate to the Services menu > Account > 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)

Release funds history

A history of all your released funds will be displayed here, which includes the release date and the amount released to your bank account.

 

Navigate Services > Account > Manage account > Release funds history.

  • Select the date range
  • Click on submit

 

To download the release funds history click on the download button

Inter-account transfer

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

 

Navigate Services > Account > 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
  • The transaction can be viewed on the Netcash statement. (The intended sub-accounts balance will be credited.)

Netcash account transfer

The Netcash account transfer allows you to transfer funds to other Netcash accounts. This excludes sub-accounts

 

Navigate to Services > Account > Manage Account >  Netcash account transfer

 

Click on Add New

  1. Insert the account number for the intended sub-account.
  2. Add Amount
  3. Add Beneficiary reference
  4. Insert extra fields if required for reconciliation
  5. Click on Submit
  6. Select the relevant transfer.
  7. Click on the transfer funds button.
  8. Click the entered values, checked and verified the box.
  9. Click on confirm transfer.
  10. Insert the OTP sent to your cellphone.
  11. Click on the authorise button.

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

 

To view a full history of all your Netcash account transfers. Click on the ” View History ” account button (top right-hand corner)

Netcash clearing accounts

Netcash holds clearing accounts with all major South African banks, enabling you to fund your Netcash account quickly and securely.

 

Navigate to Services > Account > Manage account > Netcash clearing accounts.

 

  1. Select the bank from the drop-down menu to which you will be making a payment
  2. The Netcash bank account details for that particular bank will be displayed
  3. Please use the correct deposit reference (This is displayed in the top-right-hand corner of your Netcash account.)
  4. Click on the Print details button to print to PDF.
  5. Click on the Bank Letter button to download a Bank account confirmation letter for the bank selected.
  6. You can now easily transfer funds from your business bank account to your Netcash account using the provided Netcash clearing account details.

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.

A limit of 5 advances is allowed in the 15 day period.

 

The advance date and the batch date cannot be the same. An advance for a Debit Batch may not be actioned on the batch (action) date. Advances can only be processed up to, and including, the day before the batch date.

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 the 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.

Account top-up

If you need to upgrade your Netcash Shop plan or fund monthly fees or ad-hoc amounts, simply top up your Netcash account balance.

 

To create a top-up:

Navigate to Services > Account > Manage Account > top-up > top-up Account

 

    1. Type: select either Email, SMS or WhatsApp
    2. Reference: the reference is prefilled
    3. Amount: the top-up amount
    4. Description: description of the transaction for your records
    5. Email address/Mobile number: the person who will be receiving the payment link
    6. Click on send top-up request.

The payment link will be sent via the specified payment type (WhatsApp, SMS or Email), alternatively a QR code will be displayed on screen which can be scanned to make the payment. The balance will be automatically updated once payment is successful. The top-up balance will be visible on your Netcash statement.

Note: A maximum of R2000 per account top – up.

The Top-up may take up to 24 hours to reflect in your Netcash account.

Account Top-up history

Navigate to Services> Account> Manage account> Account top-up

 

A list of all account top-ups will be displayed with the relevant status of the top-up.

Status: processing, successful and unsuccessful.

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