Non-Authenticated Early Debit Order (NAEDO)
NAEDO deductions are presented using the Payers Bank Account details and the Payers are not required to be present when the deductions are created. Although amounts can be Disputed and successful payments received can be reversed, NAEDO shares all the characteristics of EDO and therefore increases the probability of success due to the time that the deductions are processed.
When there is a potential increases in the instalments collected the value of the NAEDO deduction can be changed e.g. when annual increases are applicable such as insurance premiums or the rate of interest charged is linked to the REPO rate.
The Payer supplies a mandate which can be paper based or voice recorded which authorised the NAEDO User to process the debits.
Intecon provides access to a service that gives a business or organisation the ability to verify the bank account details prior to loading the payment instruction. Bank account details obtained through a call centre or agent can be verified prior to parting with funds, goods or services and this vastly reduces the risk associated with these types of transactions. This services is called Account Verification Services (AVS)
The following businesses are typical Users of NAEDO
(but not limited to):
- Credit Providers (Call Centres, Internet Loans etc.)
- Debt Collectors
- Insurance Companies
- Letting agents / agencies
- Ongoing subscription services
- Professional Services
- Mobile phone companies