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Value added Services |
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Stop Orders and Payment Services
This is an instruction from the client to the bank
to make a series of payments, consisting of a
specific amount and on a specific date to a
nominated beneficiary with an account either held at
Nedbank Lesotho or another bank in Lesotho or South
Africa.
Types of Payment Services
- Stop orders: Here the customer allows the third
party to withdraw regular amounts from the
customer’s bank account. Insurance companies
normally obtain debit orders from their policy
holders to pay monthly insurance and assurance
premiums
- Credit transfers: This transaction is initiated by
the customer and the amount intended for the
beneficiary is ‘pushed’ through the system by the
customer himself
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