Bulk Payment Solutions
Bulk Payment Solutions
NAEDO – Non-authenticated Early Debit Orders
Mercantile Bank offers the NAEDO collection service via the Electronic Services Division. The service allows you, the beneficiary, to collect funds owed via the NAEDO payment stream. The NAEDO service has the following features:
- NAEDO transactions are submitted to the Bank in a batch file format, and the Bank will submit these for processing on the day before the action date. No action date span is allowed, and thus a file must be submitted with transactions for a single date only.
- NAEDO also offers a tracking service, whereby the beneficiary can request that if a particular payment request is unsuccessful at the first attempt, the system will invoke tracking for a period of up to 32 days. As soon as sufficient funds are available, the payment request will be processed, and a successful transaction notification will be sent to the beneficiary.
Should you require more details on this service, please contact Matthew Coaker, Head of Electronic Services on mcoaker@mercantile.co.za.
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Last Update: 25/02/2010