Direct Transact has developed a state-of-the-art Electronic Funds Transfer system for the processing of large volumes of electronic transactions such as collection of debit orders and electronic payments like creditors and salaries. This service is offered to any corporate company or small business to eliminate the use of an expensive bank cheque facility. The pricing of these transactions is highly competitive and will undoubtedly hold a huge cost savings factor to the user.

These electronic instructions can be made on a once-off or future dated basis and Direct Transact provides a data warehouse with secured links to transfer the data to ensure data integrity. Direct Transact has developed a highly effective Check Digit Verification (CDV) module against which all external bank account numbers are validated. This CDV module is available to registered Direct Transact customers and is updated regularly. Customer maintenance is not required, which reduces development and operational costs.

Direct Transact is constantly updating its EFT services to keep abreast with new developments in the banking industry, and businesses wanting to make use of this service need to have written or voice recorded mandates from their customers.