Customer direct debits

When a vendor has an agreement with a customer to collect payments automatically, the vendor sends a payment request message to the vendor's bank. The vendor's bank is prompted to collect the customer payment by requesting money from the customer's bank. Typically, the communication between the vendor and the bank is electronic.

A remittance advice, manual or electronic, is sent by a vendor to the customer to indicate which invoices are being paid. Typically, they include invoice numbers and invoice amounts.

New Zealand specifics

These New Zealand banks can be used for customer direct debits:

  • Bank of New Zealnd (BNZ)

  • BNZ use Internet Banking for Business (IB4B) banking platform. Direct Debit import file allows to transfer data from ERP directly into IB4B for processing. Direct debit files can receive funds from any New Zealand domestic bank account.

  • Westpac

    The New Zealand Direct Entry file format can be either in fixed length format, or in CSV format (Comma separated values). The same format is used for either Payment or Direct Debits but each file can only contain all Payments or all Direct Debits.

  • ASB Bank

    Direct Debit Receipts are also known as direct debit batch files. A direct debit receipt deducts money from customer's bank accounts and deposits it into vendor's account.

    Vendor's account is determined by the registration ID in the receipt. Either of the following formats can be used for importing Direct Debit Receipts into ASB FastNet Business:

    • MT9 File Format

      MT9 is a data standard used within the banking industry for the creation of Bulk Payment and Receipts. It is ASB's preferred data standard.

    • CSV File Format

      CSV File format allows the user to import direct debit receipts into ASB FastNet Business.

How Infor meets this requirement