SUMMARY OF RULES:
The following information MUST appear on all mandates, written or voice:
. Abbreviated Short Name of the User.
. User Name.
. Deduction Date (Date of first deduction and day of month for subsequent deductions).
. Deduction Amount (Initial amount and recurring amounts).
. Surname, Initials and bank account number / full banking details of the account holder.
Any mandate not complying with one or more of the Crucial Criteria will be regarded as a deficient mandate.
A penalty of R1, 000.00 per mandate where no mandate exists or could not be provided on request or per deficient mandate or if mandate is falsified, will be levied by PASA.
Debit Order Abuse List:
If on request more than 10% of requested mandates could not be delivered or is found to be deficient, or if a user has been convicted for processing fraudulent debit orders, such users will be placed on a Debit Order Abuse list by PASA and no service provider will be allowed to process transactions for such user.
For more information go to www.pasa.org.za