Direct debit system refers to a scheme whereby an instruction is given to a banking institution that allows a transaction to be carried out.

How it works?

• Originator create contract specifying start/end date of contract, how much and when transaction needs to take place and which accounts needs to be debited and credited.
• Originating bank send mandate to paying bank passing through clearing house (BOM).
• Paying bank adhere to direct debit instructions and process the mandate. Accept or reject.
• If mandate is accepted, account of payer is debited while account of originator is credited.
• If mandate is rejected, paying bank sends a return file to originating bank who informs concerned parties.

Our main clients for Direct Debit are:

• ABC Banking Limited
• Bank of Baroda
• Habib Banking Limited
• The Hongkong and Shanghai Banking Corporation
• The Mauritius Revenue Authority