TSDN


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What is TSDN?

Teba Bank’s commitment to the responsible provision of financial services has led to the development and operation of an Internet-based deduction system called Teba Bank Secure Data Net (TSDN). TSDN allows third parties to access an on-line information and deduction system for credit risk management purposes. It is intended to limit customer over-commitment.

The system is used by the bank in its function as paymaster for the gold and platinum mining industries. TSDN is able to assess customers’ affordability for any potential creditor subscribing to TSDN. This includes banks, retailers, micro-lenders and insurance companies who wish to process deductions from Teba Bank’s customers’ accounts.

TSDN Functionality:
  • Assessment of customers’ affordability of payment to creditors (e.g. retailers, micro lenders and insurers) based on minimum take-home pay and existing or future commitments
  • On-line real-time lodging of deductions on the system, once the customers’ approval has been obtained. This is based on the affordability of the customer
  • Changes to, reinstatements and cancellations of deductions
  • Secure access through passwords and firewalls
  • On-screen and hard copy reporting of all transactions, including monthly downloads
  • Automatic arrears collection, thus reducing arrears administration. (Credit related deductions)
  • Deductions may only be lodged against net pay of customers credited to Teba Bank savings account
  • Different from deductions because there are no expensive reversals if there are insufficient funds
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Qualifying Criteria

Service providers applying for access to the TSDN system must be registered with relevant bodies regulating their industries. For example, micro-lenders must be registered with the National Credit Regulator and insurance companies with the Financial Services Board.

Application Form for TSDN Membership
>;>;Download in pdf format [146 KB] Right click and select "Save Target As"
>;>; Download in MS Word format[469 KB] Right click and select "Save Target As"
>;>; Download the TSDN Brochure: Deduction Facilities for Mineworkers[pdf format 201KB] Right click and select "Save Target As"

Login to TSDN:
www.tebabank.com

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News

New pricing effective 1 August 2010.

Click here for Pricing Guide

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