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Collection Service via
Current Accounts

Overview

Collection Services enable Co-opBank, upon authorization by a People's Credit Fund (PCF), to collect payments from customers by debiting their payment accounts to settle amounts payable to the PCF, based on the customer's specific authorization.

The PCF must be a participant in Co-opBank’s CF-eBank fund transfer system.

The PCF must be a participant in the CFePCF remote service initiation system.

The customer must maintain a current account at Co-opBank.

The customer must execute a Debit Authorization Form empowering the Co-opBank Branch to debit their current account for the settlement of payables at the PCF.

Cta (1)
Registration
PCFs may register for the Collection Service at the
Co-opBank Branch or Transaction Office managing the respective PCF, where they will receive guidance on the service implementation.

Collection Service via Current Accounts - coopbank