Frequently Asked Questions
No, Paysoft Flow does not act as a bank account or wallet. All funds are dispersed according to instructions and necessary retention rules for collections.
No, we do not support any international payments at this stage.
Only in South Africa at the moment.
Yes, please do, contact support.
Subscription is billed monthly in advance and the Variable transaction cost will be billed for the month that is passed together with the following months' subscription. A detailed breakdown will be available in the Subscription menu.
Please check FAQ under specific headings.
The Debit Order Facility application can take up to six weeks after documentation has been received by us. This is due to a credit application process via the compliance teams at the Banks & PASA (Payments Association of South Africa).
Yes, we require a 10% security deposit upon approval. This is 10% of the total monthly collection amount. The Debit Order function will only be operational after we have received the security deposit. This amount will need to be reviewed in line with your total monthly collection requirement and be increased as you request additional facility.
90% after 5 business days and the remaining 10% after 21 days. This payment is nett of unpaid debit orders and any disputes.
No, the system runs all Valid Mandate Debit Orders on the Run Date automatically with a scheduler.
As quoted in the application process to provide competitive pricing.
Yes, contact support.
The Payments service is live within 48 hours of receiving all the application documents.
To one of our nominated bank accounts displayed in the system under payment details. To assist with instant clearing of funds, we have bank accounts with the major banks. If you work via a bank account that we don’t cater for, we will need you to do a REALTIME payment for the bulk amount into our Absa account.
It remains your responsibility to ensure that the correct banking details are used when submitting processing requests.
CDV = Check Digit Validation. This is a pre-validation of bank accounts to confirm that account numbers are consistent with bank and branch rules. This check does not verify the account holder and account number are a match. That service is called Account Verification Service.
The payment will fail when we attempt to process it. We will then return the funds back into your bank account and inform you which payment failed.
This will be as quoted in the application process.
Payments will be made to recipient bank accounts based on the payment services selected by you. We offer the following options:
1 Day = The funds reflect in the recipient account just after midnight on the action date.
Same Day = The funds reflect in the recipient account from 20:00 onwards that same day.
Both the above options are subject to the 15:00 cut-off times for the payment instruction, and the associated funds being made available in our system.
Yes. This service is subject to specific conditions. Please contact support for more information.
Legal & Security
All financial data is encrypted and securely stored. Our systems are regularly audited by our banking partners as we are subject to SA Reserve Bank regulations.