This screen is used to place standing orders for payment of regular proceeds by directly debiting the customer's named account.
The customer must fill out at own responsibility the payment type (i.e. proceeds) and the register number.
An upper debit limit on the bank account specified by the customer can be set and if bills are higher than that amount they will not be paid.
Customer accounts can be debited to cover third party liabilities. Consequently, the orders are issued by customers who are beneficiaries of the deposit accounts to be debited.
The debit will be applied to the customer's named account on the last date mentioned on the notice.
The Bank is not liable for non-payment of the customer's debt in the case where on the payment-debit date there are inadequate funds in the named account or the account is inactive or the amount exceeds the upper debit limit stated in the standing order.
In the case of a double payment (e.g. debit applied to customer account via the system and simultaneous payment in any way such as via National Bank) the party responsible for handling the matter is the TSMEDE Fund and insured persons should turn to that body.
No slip which can be stapled to the notice is issued in the case of standing orders. If a person insured with the TSMEDE Fund wishes to have a certificate (e.g. to confirm payment of premiums for the tax office) he should contact the TSMEDE Fund which will issue the relevant certificates.
The applicant should fill out the upper amount which he authorises the Bank to pay to the TSMEDE Fund in the MAXIMUM DEBIT field. If the customer does not wish to set a limit, leave this field blank.
TSMEDE standing orders will be executed on the same day unless the following message appears: 'Your order is being processed and will be forwarded to the system later. You can check whether your order has been forwarded to the system through the Search-Recall menu option', which means that it will be executed on the next working day.
The Bank is not liable for any mistakes in the amount debited to the customer's account where this is not due to its fault. Liability lies solely with the TSMEDE Fund.