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EDS, a secure Electronic Deposit System set up within the banking infrastructure, allows E-Deposit clients (retailers and wholesalers) to deposit their money with or without the use of a CIT (Cash in Transit) Company.  Thus, after registering as an E-Deposit client, any retailer or wholesaler can deposit the cash that was generated through its business by means of the EDS into a central bank account that is held at ABSA. The E-Deposit client’s money is then transferred instantly and automatically by means of Electronic Fund Transfer (EFT) to its own bank account, whether the latter is held at FNB, ABSA, NEDBANK, Standard Bank, Capitec, etc.  


The EDS is an automatically driven mechanism that is accessible to all retailers/wholesalers irrespective of where their own bank account is held.  Having been developed by professionals, the system’s software complies with Reserve Bank and PASA (Payments Association of South Africa) requirements and is acknowledged and works hand in hand with our Sponsoring Bank’s payment system.  The EDS requires neither additional software nor human interaction.


All registered E-Deposit clients can deposit cash directly into the Local Alta Cash Management Bank Account, where the system recognises the client’s Unique Client Code (UCC) and automatically and instantly transfers the deposit to the client’s own business account at any local bank.

The registration process is easy and effortless. A retailer can register online or manually by means of a documented process that is in accordance with FICA (Financial Intelligence Centre Act) and NPA (National Payments Act) rules.

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