pbVerify Bank Code Update gives added assurance

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bank code update2For absolute assuredness around credit risk, complete your business credit report with a bank code update.

As a business striving for problem-free, profitable dealings with customers, you know how important complete, accurate and up-to-date credit information is, and you will want to leave no stone unturned when it comes to assessing creditworthiness.

As South Africa’s leading credit bureau, pbVerify provides you with all the products you as a business need, to guarantee sound commercial transactions – including a Bank Code Update service to round off business credit reports.

Complementing pbVerify’s recently launched XDS Business Credit Report, is our commercial bank code update service – also provided by XDS – that allows you to acquire an up-to-date bank code from any listed South African bank.

Bank codes are critical when it comes to assessing the credit limits and creditworthiness of potential customers. Before extending credit to any business, request a Bank Code Update on the pbVerify system to the value of credit you are considering.

In a nutshell, this is how it works: After you have submitted the required information, pbVerify’s Bank Code Update service makes contact with the customer in question’s bank, and requests the latest bank code against the desired Rand value. The return bank report is kept in your pvVerify account and can be retrieved any time after it is received.

What is a Bank Code?

A bank code is essentially a code provided by a bank on the company in question’s account, representing how good the company is for the amount of credit it is applying for. This is an investigation report that takes 24 hours.

As the business looking into a company as a potential customer, you are required to enter the company’s bank details (bank name, branch, account number) and the terms of the enquiry. For example, if the company in question signed a credit agreement of R10 000 for 12 months. The terms would then be R10 000 at 30 days over 12 months.

Below are the possible bank codes pbVerify’s Bank Code Update service could return:

A = Undoubted for the amount of your enquiry

B = Good for the amount of your enquiry

C = Good for the amount quoted if strictly in the way of business

D = Fairtrade risk for the amount of your enquiry

E = Figures considered too high

F = Financial Position Unknown

G = Paper occasionally dishonoured

H = Paper frequently dishonoured

Bank Code Update is a standard feature within the pbVerify system and is also available to third-party integrators via an API.

Please note:

  • Before requesting a bank code, businesses need to ensure that the company registration number matches that associated with their bank account.
  • It takes 24 hours from the time of enquiry for a bank code to be returned to the business enquiring.
  • This product is only available for companies – a bank code cannot be requested for an individual.

pbVerify launches new business report

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business credit reportSA’s leading data bureau has added a new B2B product to its extensive suite of credit risk management products.

SA’s leading data bureau, pbVerify, has just launched a new product to complement its existing B2B suite – the XDS Business Credit Report.

The new product will furnish businesses looking to draw business credit reports with instant insight into the existing status of any company that is registered with the Companies and Intellectual Property Commission (CIPC).

XDS is one of South Africa’s leading credit bureaus and, while pbverify has been an XDS partner for many years and offered a range of consumer verification products, the new XDS report is the first business product to be launched on the pbVerify website.

A comprehensive overview and statement of the credit status of any company being researched for credit worthiness, the XDS Business Credit Report is competitively priced and offers all the information (on both the company and its directors) a business requires to make sound commercial decisions.

The information offered in the XDS Business Credit Report also helps businesses prevent fraud by exposing whether any prior legal action has been taken against the company in question. It also gives businesses assurance that the Business and Principal information the company in question has provided, is 100% legitimate.

Below is just some of the information businesses can expect to garner from pbVerify’s new Business Credit Report from XDS:

  • Company CIPC status and information
  • Commercial credit score (with indicator)
  • Auditor information
  • Active director information
  • Business contact information
  • Business banking details
  • Bank Code history information
  • Commercial adverse information (judgements, defaults, etc)

Note: When drawing a business credit report, consent will always be required in terms of the National Credit Act (NCA) and its Prescribed Purposes. Read more about this here.

Get through winter with a quality air purifier

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Don’t let the ailments associated with the season get the better of you – create pure indoor air, breathe freely and enjoy good health this winter.

The sudden icy temperatures over the past week are proof that winter is well and truly upon us and, while many may associate allergies with the summer months, the truth is that winter is a breeding ground for the particles and germs responsible for poor health during this time.

Studies have shown that most people spend as much as 90% of their time indoors in winter – if not more – and, with the cold season being the time dusty winter coats and blankets are brought out, and long-dormant heating devices powered up, indoor air quality hits an annual low.

On top of this, the chances of transmission of common winter ailments rise steeply, due to the bacteria and viruses that cause them densely populating indoor air.

In fact, if we had to really grasp the extent of allergens, particles, germs and irritants that circulate through our indoor air during the winter months, we would probably wonder how it is that we can breathe at all.

The good news is, using a high-quality air purifier can reduce – and even completely eradicate – winter allergy symptoms and significantly reduce your susceptibility for catching a cold or getting the flu.

pbOffice (a division of PBSA) offers a range of top-quality air purifiers by IDEAL, which feature all the vital components needed to turn contaminated indoor air into pure, healthy and allergen-free air – including HEPA filters and intelligent air quality sensors.

Our devices work on a six-stage AEON Blue air purification system, which filters almost 100% of the smallest particles and pathogenic germs from the polluted air before they reach your airway. Additionally, the clean air is enriched with negative ions – oxygen atoms that are charged with an extra electron (as found in nature) and are proven to have significant health benefits.

With pbOffice’s air purification solutions, you can safely say goodbye to indoor air pollutants like viruses and bacteria, pollen, animal hair, chemical fumes, dust, odours, tobacco smoke and aerosol fumes.

This winter, don’t succumb – invest in and enjoy a quality air purifier for your home and office and say goodbye to the “sick season” blues.

[REFERENCES]  

Wikipedia – HEPA

Web MD – Negative Ions Create Positive Vibes