Risk Reports

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Index

Activating the Risk Report service

Once the decision has been made to use the Risk report service there are a few steps which must be carried out by Netcash and the applicant before the account can be activated, and transactions processed.
Please refer to the email you received email which includes a signature token to sign the Netcash online agreements.

 

  • Log in to the account using the provided Account login details.
  • Access the Account Profile menu in the top menu bar.
  • Click the left side menu bar and click on “My space”.
  • Select the Service Agreements link.
  • Insert the token above into the box provided for risk reports.
  • Click on the Accept button to sign the agreement.
  • Risk reports service activated.

 

Click on the resend signature token to resend the token if not received.
The service agreement can be downloaded by clicking on the service icon.

Generating a Netcash service key

The View risk report service key settings, allow you to generate your service keys if this is required. If it has already been generated, you are able to view it here. You are also able to edit the email address or deactivate the service key. You can select a nominated enquirer as well.

 

  • Click on Account profile.
  • Click on NetConnector > Risk reports.
  • Complete the required fields.
  • Tick the postback URL active box if required.
  • Select the pre-defined postback URL if your software appears in the dropdown list – or
  • Insert the postback URL where the responses should be electronically sent.
  • If no postback URL is entered the selection should be NONE.
  • Choose from the following options: Ignore errors, Autoforward action date or Lock batch on upload.
    (See notes below for details).
  • Click on the Submit button.
  • The service key is generated and emailed to the email address linked to the service key.

Definitions

Validation – Details are checked using an algorithm, this means that they pass validation and will be accepted when processed.
Verification – Information supplied is checked against known records to confirm that it exists or is correct.
Credit Bureau – An organisation which researches and collects individual credit information and sells it for a fee to parties interested in making use of that information to make an informed decision on offering credit.
Service Key – A token which is used to uniquely identify and authenticate the application making use of the service.

 

Please note that Netcash uses a third party service to draw information from the different credit bureaus and
information providers. This information is consolidated by Netcash into the relevant report.

 

Netcash does not interpret any of this information. We only source the data from the bureaus and present it as a summarized report and are not responsible for any decisions made based upon the information provided. The following disclaimer can be found on the large page of any report:

 

“This report contains information from public records which the data providers do not control, and which have not been verified unless otherwise indicated. The data providers do not give any undertakings of any nature in relation to the report or as to the accuracy or correctness of the report.

 

Use of the report requires the customer to use their own skill and judgement to make a final decision. The data providers shall not be liable for any decisions or actions taken by the customer in reliance on the report save as aforesaid, the report and the use of thereof are subject to the data providers’ standard subscription agreement, terms and conditions and general use of information, a copy of which is available on request.”

 

Important!
In terms of the National Credit Act, any person requesting a consumer report on the individual must have the written permission of that person. It is also recommended that written permission be obtained for business reports.

 

Note that credit check reports will be available for a period of 30 days on the Netcash system from the date of request, thereafter please access the latest report for updated relevant information

Risk Reports overview

Consumer reports
Netcash offers access to the consumer credit reports from the following companies listed below:

1. Consumer credit checks:

  • TransUnion
  • XDS
  • Experian
  • Compuscan

2. Credit-data – Business linked to Consumer.

 

ID Verifications:
1. TransUnion
2. XDS

 

Commercial reports
We offer access to the commercial reports/registration number verifications from the following companies listed
below:
2. CIPC – CIPC Business Report
3. TransUnion – CIPC Business Report with principal clearance
4. TransUnion – Mini Company Report

 

Bank account verification:
1. Bank account verification sent to relevant participating bank.
The various reports the following information:

 

Consumer Credit reports
• Personal information
• Address history
• Email address history
• Occupation history
• Adverse

 

CIPC Business Report
• Business information (business name, registration number and years in business)
• SARS Tax number.
• Directors (name, surname, and ID number)
• Historic Principals of the Business.

 

CIPC Business Report with principal clearance
• Business information (Business name, registration number and years in business)
• SARS Tax number.
• Directors (name, surname, ID number, date of birth and designation)
• Historic Principals of the Business.
• Directors – Indicates bad ITC, judgments, defaults, and administrations.

 

Mini Company report
• Business information (business name, registration number and years in business)
• Previous Business name.
• Directors (name, surname, ID number, date of birth and designation)
• Historic Principals of the Business.
• Directors – Indicates bad ITC, judgments, defaults, and administrations.
• Auditors’ information if listed.
• Adverse information such as notices defaults and judgements for the business.
• Enquiry history.
• Property/ deeds of business.

Accessing Risk Reports

To access risk reports in the Netcash system, log in using the username, password and PIN provided.
Navigate to Services > Risk Reports
Select from one of the following:

 

Consumer
• Consumer Credit Checks
• ID Verification
• Bank Account Verification

 

Commercial
• Commercial Credit Checks

 

Reports
Consumer Risk Reports
When doing a consumer enquiry, you will be requested to provide the consumer’s:
1. Identity Number
2. First name
3. Last name
4. Reason for the request. There is a dropdown box which offers a number of predefined reasons for the request.

 

These are all compulsory fields. Having provided the information, the system then validates the identity number before moving to enable to data to be submitted. Terms and conditions must be ticked before being allowed to proceed. By agreeing to the terms and conditions, please be aware that you are confirming you have the necessary approval of the client to draw the report.

 

Commercial Risk Reports
When doing a business enquiry, you will be requested to provide the following:
1. The business name
2. The registration number of the business
3. Reason for the request. There is a dropdown box which offers a number of predefined reasons for the request.
These are all compulsory fields. Having provided the information, the system then validates the registration number before moving to enable to data to be submitted. Terms and conditions must be ticked before being allowed to proceed. By agreeing to the terms and conditions.

 

Bank account verification
The Account verification service enables a bank account to be verified. Verification differs from validation – validation of an account number is simply an algorithmic check that ensures the number is theoretically correct whereas verification confirms that the account number exists and the recorded identity number matches that of the enquiry. Account verification is limited to specific banks. They are currently:

1. Standard Bank
2. FNB
3. Nedbank
4. ABSA
5. Capitec
6. African Bank
7. Bank of Athens
8. Bidvest
9. Discovery
10. Investec
11. Sasfin

 

Since the verification request is processed through a third-party provider and needs to access the relevant bank to return a report, the response is not instant. It may take anything from a few minutes to 48 hours for the results to be returned. These will be located under the Reports menu item and by selecting the AVS reports radio button. Where a result has been returned from the bank the returned column will show “Yes” otherwise it will say “No” meaning that Netcash is still waiting for the response. The Acc Exists and Id Match results will indicate either a “Yes” or a “No” for a match.

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