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Thread: Is Standard Bank Autoplus transaction a reliable proof of payment

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    Is Standard Bank Autoplus transaction a reliable proof of payment

    We have received a recent order which has sent up some red warning flags: i.e, its for a commodity type product (easy to resell), the amount is reasonably large, its urgent, its a first time customer.

    They have sent through an "Electronic account payment" slip from a Standard Bank Autoplus machine. It seems to have been done from a Debit MasterCard. The amount is reflecting in our bank account as an Autoplus transfer.

    Do any of you know this mechanism for payment? Is it reversible?

    Thanks

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    You know, when ever the order is so urgent, and usually happens just after the banks close, I get very weary, because that's how you get taken.

    What bank are you with?

    Get hold of your bank manager and get them to investigate. Rather deliver late and be safe than sorry. If it is legit, you got the money anyway, so the onus is on the customer to accept.

    Credit card transactions have a 10 day window in which they can be reversed, the customer simply complains to the credit card division that the goods are faulty.

    I am familiar with FNB, any deposit made into our account always reflects exactly what it is, eg cheque, cash deposit, EFT.

    I know that with Standard, you can print a payment slip, with out the funds being released yet, you have to check at the top right hand side to verify what type of print out has been done.

    I have heard that Capitec debit card payment has similar rules, so be weary with the 10 day window.
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    Well I have until Monday to figure it out so its not same day urgent.
    I am with Standard Bank.
    I thought credit card transactions could be reversed much later than 10 days? Can't you query transactions on your statement for a while after you receive your month end statement?

    I can see the transaction in my bank account and its labelled as an Autoplus transfer (or something similar to that), I just don't know if that's the same as an EFT or not.

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    Quote Originally Posted by BusFact View Post
    I can see the transaction in my bank account and its labelled as an Autoplus transfer (or something similar to that), I just don't know if that's the same as an EFT or not.
    In the aspect that matters most in this case (reversibility), pretty much the same a.f.a.i.k.
    It certainly is treated as cleared funds on the recipient's side.
    The trouble with opportunity is it normally comes dressed up as work.

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