Debit Order Cancellations At Standard Bank
Debt Counsellors who are communicating with Standard Bank’s debt review department are able (with a mandate or signed form from the client) to send Standard Bank a debit order cancellation.
Standard Bank Debt Review department have a fancy email system that is able to check the titles of incoming emails and then automatically send them to the right department. The only snag is that if there are too many things attached to the email with tasks for many different departments (within debt review) it can be sent to one team and not the other.
Use The Correct Email Address
Standard Bank Debt Review are trying to make things as easy as possible to get these debit order cancellations done. This is why they have set up a dedicated email address just for these matters. The email address is:
They ask that Debt Counsellors avoid using the DRApplications@standardbank.co.za address as this can slow down the process or the request could even get totally missed.
Why Is This So Important?
Cancelling debit orders that go off a consumer’s bank account can help prevent the old debit payments toward a debt going off as well as a new payment through debt review (via the PDA). If both go off at the same time it can leave the consumer without cash flow just when they need it the most.
‘If both go off at the same time it can leave the consumer without cash flow just when they need it the most’
Fortunately, if this does happen then the Debt Counsellor can approach the credit provider and most will make efforts to refund the consumer (most times). Even though this takes care of the issue there will be a few days when the consumer has little funds available so it is best to avoid this situation by taking care of these debit orders as soon as possible when entering debt review.
If you have just begun debt review, then it is important to discuss clearly with your Debt Counsellor which debit orders you have on your accounts (and what they are for) as they will want to assist you in cancelling debit orders for debt repayments that will be included in the debt review.