Why is Standard Bank debiting accounts before the usual due date in December?
During the holiday period, some clients struggle to make debit order payments as most customers are paid earlier than usual. Debit orders do not automatically adjust to detect a salary payment, meaning some customers may fall behind on payments. Where clients have given the bank a flexible debit mandate on their loan account, the bank will adjust the debit orders dates to their expected salary dates in December.
How has Standard Bank communicated to customers about this change?
Customers will receive an SMS either on the day or 1 day before their debit order date.
Which customers are excluded from early debits?
Weekly and bi-monthly paying customers on AccessLoan and RCP
Customers who do not have flexible mandates
Will the early debit orders deduct from my overdraft facility?
Yes, if there are funds available.
Will I get charged an unpaid fee before the debit order due date?
In the event that you do not have any money in the account, the debit order will continue to be tracked and funds collected as they become available. It is important to note that NO unpaid debit order fee will apply for non-payments before the usual debit order due date, therefore if we do not receive an earlier payment, you will not be penalised.