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.

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.

CODE

DESCRIPTION

DEFINITION

Y

Prescription interrupted Indicator

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