African Bank Automate CoBs

African Bank are making some changes

Please see the African Bank notice below:

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Kindly be advised of certain system changes and enhancements within the debt review department of African Bank.

 

Form 17.1 Notifications

 Our COB (Certificate of Balance) process has been automated.

This will mean that no user is perusing the Form 17.1.  This may impact the verification process of e-mail addresses and or fax numbers. We require that you notify us immediately should your contact details change. Our turnaround time for the issuing of a COB will be a minimum of 3 days. Should you not receive your COB within a 5 day period we request that you bring it to our urgent attention.

 

In addition to the above we require that any request, other than that of a COB, must be sent to us as separate correspondence.  This includes your request for the cancellation of a debit order, copies of contracts and assessments.

Kindly keep in mind that our system is able to link one e-mail address only per Debt Counsellor (per NCR registration number).

We are unable to accommodate: multiple addresses relating to multiple branches associated with a single NCR registration number; Individual addresses of various employees working in a debt counsellor’s firm.

Debit order cancellation requests

A request for cancellation of debit orders must be sent on your letterhead and MUST NOT be included in the Form 17.1. All request for the cancellation of a debit order must be accompanied by a Form 17.2 and a written instruction/consent signed by the consumer.  Should the request be submitted by the debt counselor the request must be accompanied by a Power of Attorney signed by the consumer.

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It seems there is a trend toward reducing staff and increasing automation at most of the large banks debt review departments. The recent DCRS system is one such step to allow for automation to replace additional staff. The upcoming Central Data Switch (CDS) will also make many positions in these departments unnecessary.

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