The following are the possible scenarios for bank code requests to be referred and thus delayed:
- When there is some hold on the account, e.g. (Financial Intelligence Centre Act) .
- Notice for bank to consent (obtain permission) from account holder for any details required on the account.
- The account holder did not give consent for bank code to be issued. (In line with the National Credit Act).
- Authorization for the amount of certain limits from Credit Team. (Mandates).
- Duplication of requests from the same or different source(s), e.g. one request sent twice.
- The relationship manager needs to get facts about the transaction prior to making a decision on a bank code to issue, thus contacting the account holder.