Acts Online
GT Shield

National Credit Act, 2005 (Act No. 34 of 2005)

Notices

Guideline for the Submission of Credit Information in terms of Regulation 19(13) of the National Credit Act, 34 of 2005, as amended

Annexures

Annexure A : Data Format prescribed by the National Credit Regulator

 

Overarching Category 1: Data Subject Demographics

 

Consumer name/s and surname/s, address, and unique identifier (e.g. ID number/passport/date of birth).

 

Overarching Category 2: Data Supplier Demographics

 

Account number/s of consumer account/s; name of Credit/Data Provider; and supplier reference number per file, which number is issued by SACRRA; and month end date or transaction date of the file.

 

Overarching Category 3: Product Descriptors

 

Current categories of credit agreements, products, and services (Account types) utilised by industry for credit information reporting as at September 2016. Should SACRRA innovate these to meet the dynamics of the market, the NCR will be advised accordingly.

 

Account

Type

Name of Account

Type

Product Description / Criteria for Use

B

Building Loan

Loans which are granted independently of a Bond account which are specifically for use in building, either in additions or from foundation.

These are generally consumed in portions as the build progresses.

C

Credit Card

Account where an available allowed facility is granted, payment commitments in line with the agreed timelines must be made in order that the facility can be retained.

D

Debt Recovery

Where an account has been previously written off and is now in the collections environment.

E

Single Credit Facility

A facility where numerous products have been combined or where facility allows for various transaction types to occur within an agreed available limit at a specific rate.

F

Open-Services

Service type accounts which do not have a credit limit but where the total expenditure in the previous month is expected to be paid in full after each cycle.

This will include the accounts such as: Telecoms, Security, Cellular, Subscription accounts for value-add services (prepaid etc.).

G

Garage

Only Independent Cards which are not paid by automatic transfer linked to a credit card account; if automatic transfer linked to credit card, the expenditure on this card must be included in the credit card submission.

H

Home Loan

Bond accounts, including “Access Bond” type accounts which are not considered to be single credit facilities.

I

Instalment

Where an instalment agreement is signed. A specific instalment is expected for the purchase of goods.

L

Life Insurance

For Life Insurance Policies – premiums only.

M

One-Month Personal Loan

Loan granted to consumer for use in his personal capacity where the loan is to be repaid within 1 month.

N

Secured Pension/

Policy-Backed Lending

Loan granted against a pension/policy.

Must be treated in the same way as a personal loan.

O

Open-Limitless

Open Credit Facility where the account is truly limitless in terms of available credit AND where repayment in full is expected at the end of each agreed period.

P

Personal Loan

Loan granted to consumer for use in his personal capacity where the loan is to be repaid over a term greater than 1 month.

R

Revolving Credit Store Cards

A Store Card where a limit is available to the consumer and an instalment is required monthly.

This value may be accessed as required up to the agreed limit.

S

Short Term Insurance

For Short Term Policies – premiums only.

T

Student Loan

Use only if the product is paid directly to the Tertiary Institution.

If funds are dispersed directly to the consumer, please use M or P.

U

Utility

Rates, Water, Electricity, Levies Accounts.

V

Overdraft

Overdraft Facility.

W

Rentals Asset

Rental of Vehicles, white goods (such as Appliances, Televisions etc.).

X

Rentals Property

Property Rentals.

Y

Vehicle Asset Finance

Vehicle Asset Finance.

Z

Revolving Non-Store Card

A limit which is available to the consumer where a specific instalment is required monthly and once a percentage or agreed value is repaid, this value may be accessed again up to the agreed limit.

 

 

 

Overarching Category 4: Financial Descriptors

 

Opening balance/credit limit

Date of commencement of credit agreement (account open date)

Instalment amount

Term, where applicable and repayment frequency

Overdue balance and months in arrears, where applicable

Current balance, where applicable

 

Overarching Category 5: Current Account Status Codes and Status Date

 

The current account status codes as utilised by industry for credit information reporting as at September 2016.

 

CODE

DESCRIPTION

DEFINITION

B

Final Closure

To be supplied once. Used to indicate that the debt has prescribed.

No further updates are allowed after Status Code B.

C

Account Closed

Account fully paid and has been closed.

D

Disputed

An indicator to remove the record from display while a dispute is investigated.

E

Terms Extended

Repayment terms have been extended.

F

Lapsed Policy

Consumer has allowed Insurance Policy to lapse due to non-payment.

G

Cancelled by Consumer

Policy cancelled by Consumer.

H

Cancelled by Supplier

May only be used for Account Types S & L.

I

Facility Revoked

Supplier has revoked access to the facility.

J

Repossession

Goods have been repossessed due to non-payment.

K

Paid-out Deceased Claim

Deceased Claim paid to Principal Policy Holder only – i.e. to be used in instances where the Principal Policy Holder receives a pay-out for cover of another individual.

L

Handed Over

Account handed over to attorney or collection agency for recovery but still owned by the Member.

M

Paid-out Disability

Disability Claim paid out to Principal Policy Holder.

N

Pending Registration Removal

Used on Account Types B and H in the event of an NTU or where a Pending Registration has been converted to a registration. This status code will act as an instruction to the bureau to remove the Pending-Registration record from the bureau database. Status Code N will not be displayed in the Payment Profile Line or on the Account Record.

P

Paid Up

Account paid up but may become active in the future.

S

Surrendered

Policy surrendered and paid out.

T

Early Settlement

Outstanding balance settled before agreed term.

U

Settlement of Adverse Arrears

Where the obligation under the agreement relating to the adverse has been settled, but the account is still active.

V

Cooling-Off Settlement

Loan settled within the 5-day cooling off period.

W

Written Off

(Adverse Code)

Account written off due to non-payment.

Y

Prescription Interrupted Indicator

Used to indicate that an account is in arrears and that prescription has been lawfully interrupted.

Z

Deceased

Where a consumer has been confirmed as deceased.

 

 

 

Data Validation Status Code

 

Will not be displayed, but required for data submissions.

 

CODE

DESCRIPTION

DEFINITION

Y

Prescription interrupted Indicator

Used to indicate that an account is in arrears and that prescription has been lawfully interrupted.

 

Please direct all queries relating to this Guideline to Mpho Mackenzie at mackenziem@ncr.org.za or call 011 554 2898.