ACCEPTANCE OF ELECTRONIC FUNDS TRANSFER PAYMENT SPECIFICALLY IN SALE OF VEHICLES AND TRANSFER OF REGISTRATION ON ENATIS

Payments, better known as EFTs, have become a popular payment method in South Africa, accepted by many in lieu of cash or cheque payments. Many accept the printed electronic funds transfer document as “proof” of a cash payment into the bank account, especially in the selling and purchasing of motor vehicles. They insist on the […]