The Intelli-Debit, or NAEDO collection service allows you, the beneficiary, to collect funds owed via the NAEDO payment stream. The Intelli_Debit service helps to ensure collections and reduce non-payments and bad debts, by tracking the availability of funds in the account for the period of time you stipulate.
Intelli-Debit Credit tracking is an optional feature of NAEDO, whereby the beneficiary (yourself) can choose a tracking period, so that should insufficient funds be available in the accountholder’s account on the first debit attempt, tracking will be invoked for the chosen period. This will then invoke a system at the accountholder’s bank which will either monitor the account for incoming credits, and proces re-randommised. NAEDO then debits the account once a credit is detected, or reprocess the NAEDO debits a minimum of twice a day against the account. Should a transaction fail after the tracking period, it will be returned as an unpaid transaction.
Intelli-Debit has the following features:
Use NAEDO to take priority over normal debit orders and receive outstanding funds from debtors with failed payments
Track a debtor’s account for up to 32 days and process your debit orders when funds become available in the account
Use NAEDO to collect a maximum amount per transaction of R5000