The ECA’s National Finance Manager, Tembe Mwemba, has announced that to streamline its administrative procedures, the ECA(SA) will be implementing a ‘reference validation functionality’ on its FNB bank account. This means that from 12 September 2022 all deposits into the ECA(SA)’s bank account will require a specific reference to be used. You will not be able to proceed and make a deposit without this reference.
In the past, some deposits with incorrect or incomplete references resulted in unallocated or unmatched deposits, which has made it extremely difficult to identify the source of the payments and caused delays in allocating payments to the correct accounts.
The reference validation functionality will ensure that all payments made into the ECA’s FNB bank account will now be allocated correctly, thereby reducing the administrative burden of identifying the deposits and allowing administrative staff’s time to be used more productively to provide a better service to our members.
The reference numbers to be used when depositing funds into the ECA’s FNB account will consist of a combination of letters and digits. Any of the four references which will be accepted are as follows:
- • Invoice number as reflected on the invoice
- • Membership number as reflected on the invoice
- • Customer number as reflected on the invoice
- • Quotation number as reflected on the quotation
Please contact your nearest ECA office for any challenges that you may encounter.
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