The Payment Association of South Africa (PASA) and the South African Reserve Bank (SARB) have introduced an initiative called DebiCheck to protect South Africans from fraudulent and incorrect debit orders.
As a responsible insurer Bidvest Insurance has aligned with the new DebiCheck process. In short, this means that when you take a new product with us you will simply be asked to verify this new debit order with your bank.
What is DebiCheck?
DebiCheck is the name for a specific type of debit order mandate where you verify electronically and on a once-off basis, the details of the debit order with your bank before it is processed to your account.
How does it work?
Purchase a new product from us.
Get an SMS
Your bank will send you an SMS to the number you usually use to communicate with your bank, with a request to authorise the debit.
Follow the Process
Simply follow your bank’s process to validate the debit on your cell phone. This might include USSD, banking app, internet banking, ATM, etc.
You can now rest assured that your debit order with us is authorised.
You have until 8pm to verify the DebiCheck debit so don’t delay.
If you experience any problems confirming the DebiCheck debit, please contact your bank directly.