What is DebiCheck, and what am I approving?

DebiCheck is a way for your bank to confirm a debit order with you before it can run. For a RandLeaf loan you approve our name, the repayment amount, the date and how often it runs. Approving it doesn’t pay out the loan, and it doesn’t end the debt.

What you confirm

Your bank shows you the mandate details. Compare them with your quote and agreement before you approve.

Creditor name

RandLeaf, or the legal entity named in your agreement.

Amount

Your repayment amount. On an instalment or personal loan, the last instalment can differ by a few cents because of rounding.

Date and frequency

The day your repayment is collected, usually monthly and matched to your payday.

Maximum amount

Some mandates include a maximum, which allows only for the changes your agreement permits. It is never a licence to collect whatever we like.

Reference

A contract or mandate reference that links the debit order to your agreement.

How to approve it

1. Accept your quote and agreement. The DebiCheck request is sent after you have seen the personal quote and accepted the agreement.
2. Your bank sends the request. It arrives in your banking app, by USSD or SMS prompt, depending on your bank. Some banks also allow approval at an ATM or branch.
3. Check every detail. Name, amount, date and frequency should match your agreement exactly.
4. Approve, or tell us if something is wrong. Once approved, the mandate is in place and we can complete the payout.

What approving DebiCheck is not

• It is not the payout. The loan is paid separately into your verified account.
• It doesn’t end the debt. Cancelling the mandate does not cancel the loan or what you owe.
• It is not an extra charge. There is no RandLeaf fee for setting up the mandate.
• It never needs your PIN or password to be given to anyone. You approve it with your own bank.

If something goes wrong

The request never arrived

Check your banking app notifications and your phone for a USSD or SMS prompt. Requests can expire. Contact us and we can check its status and send it again.

You rejected it by mistake

Tell us. We can send a new request with the same details.

The amount or date looks wrong

Don’t approve it. Compare it with your agreement and contact us before doing anything else.

You decided not to approve it

We pay out once the mandate is in place, so declining a correct request means the payout can’t go ahead. If you no longer want the loan, tell us.

Changing or disputing a debit order

If you change bank account, a new mandate is needed for the new account. Contact us before your next repayment date so it can be set up in time.

Because you approved the mandate details with your bank, a debit that matches the mandate is treated differently from an unauthorised debit order. If a collection doesn’t match what you approved, contact us and your bank. Your bank can explain how its dispute rules apply.

Who to contact

Our phone, email and support hours are not yet published. You can also see every official channel on the contact page. If a message claiming to be from us looks wrong, check it against that page before you reply.