Payment Options
CyberDyne supports multiple payment options for orders placed. The payment options
available will vary depending on your customer registration.
Reseller Payment Options
Electronic Funds Transfer (EFT) - any payment
made electronically from your account to CyberDyne through the use of either Internet
Banking or providing your bankers with an instruction to electronically transfer
funds from your banking account to CyberDyne. This is the suggested method of payment
as it is both safe and secure, provides both parties with a full audit trail and
is the least expensive in terms of service fees.
Direct Bank Deposit - any payment made at an
FNB branch into CyberDyne's account. Payments made via Cash Notes will reflect immediately,
however will be subject to the banks prevailing Cash handling fees. Payments made
via Cheque will only be approved subject to the banks default clearance period for
Cheque based instruments of payment.
Cash notes - any payment made cross counter at
CyberDyne House in the form of cash notes i.e. hard currency.
Account - Orders are charged to either a 7-day
or 30-day account facility. Credit facilities are only available to customers who
have been assigned Credit facilities by CyberDyne management.
End User Payment Options
Electronic Funds Transfer (EFT) - any payment
made electronically from your account to CyberDyne through the use of either Internet
Banking or providing your bankers with an instruction to electronically transfer
funds from your banking account to CyberDyne. This is the suggested method of payment
as it is both safe and secure, provides both parties with a full audit trail and
is the least expensive in terms of service fees.
Direct Bank Deposit - any payment made at an
FNB branch into CyberDyne's account. Payments made via Cash Notes will reflect immediately.
Payments made via Cheque will only be approved subject to the banks default clearance
period for Cheque based instruments of payment.
Cash notes - any payment made cross counter at
CyberDyne House in the form of cash notes i.e. hard currency.
Credit / Debit Card - any payment made cross
counter at CyberDyne House in the form of either a VISA or MasterCard Credit card,
or Debit Card. Diners Club & American Express are not accepted.
Frequently Asked Questions
Will a Sales Order be released as soon as payment
is made ?
Unless a customer has been granted Credit facilities with
CyberDyne, our Warehouse only releases orders based on clearance of payment in our
banking account. Payment clearance will depend entirely on the method of payment
made. Orders paid for with Cash notes or via Credit / Debit card are released immediately.
Orders via Electronic Funds Transfer (EFT) or Direct Deposits will only be released
once the funds reflect as 'Cash' in CyberDyne's banking account. We do not release
orders on the presentation of an EFT or Direct Bank Deposit receipt - only when
payment made via these methods is reflecting as cleared funds in CyberDyne's banking
account.
How long does it take for payment via a bank
transfer or EFT to reflect ?
This will depend upon which institution the payment to
CyberDyne was made from and when payment was made. By default, Electronic payments
made from FNB to FNB (CyberDyne’s bankers) will reflect immediately. Payment made
from a non-FNB account will take between one (1) to two (2) business days to reflect
- depending entirely when payment was made.
Do you accept payments made via Cheque ?
Cheque payments are only accepted upon the condition that
the customer is prepared to wait the banks default clearance period for such payments
- this being up to seven (7) business days from date of Cheque presentation to the
bank regardless of if the customer or CyberDyne deposits the cheque.
What is the suggested method of payment ?
Without doubt, Electronic Funds Transfer (EFT) is our preferred
method of payment. Payment is safe and secure for both parties and will normally
take a maximum of two (2) business days to reflect in CyberDyne's banking account
depending entirely on which institution payment is initiated from.
Do you deliver on a C.O.D. basis ?
For security purposes, none of CyberDyne's drivers are
permitted to carry any instruments of payment. Cash notes are only accepted cross
counter CyberDyne House or in the form of a Cash deposit made directly into our
banking account at any FNB branch. Unless Credit facilities have been granted, orders
for delivery purposes need to be pre-paid in full prior to Warehouse release.
Why are Re-sellers charged cash handling fees
for Direct Bank Deposits ?
Wholesale distribution margins are razor thin - for this
reason the costs associated with a Cash deposit are billed back to the customer’s
account in direct accordance with the prevailing bank cash handling fee incurred
by CyberDyne. Since the vast majority of customers make use of Electronic payments
which do not incur bank cash handling fees, CyberDyne has not built these fees into
its pricing structure and as a result has to recover such charges in the event of
a cash deposit being made at branch level.
Why are Card payments for end users only processed
at CyberDyne premises ?
CyberDyne does not offer an online Card payment system
to protect the business of its E-Tailers. Part of the attraction of an E-Tailer
is the ability to make secured payment via either a Credit or Debit card online.
While the business of an E-Tailer procuring product from CyberDyne is already protected
on the basis of the E-Tailer qualifying for Wholesale pricing, we further wish to
protect the business of such customers by not competing with them in terms of online
Credit / Debit card payments. For this reason CyberDyne is only able to process
such payments cross counter, CyberDyne House in the presence of the card holder.
Will the method of payment used determine the
pricing structure which applies to me ?
Your assigned pricing structure is based upon your original
registration. This will define what methods of payment are applicable to you as
well as your pricing structure.
I have registered as a Reseller, but why when
I process orders am I unable to use the Payment on Account option ?
The Payment on Account option is only available to customers
who have been granted Credit facilities by CyberDyne. Credit facilities are not
automatically granted to a new Reseller registration. Business needs to be conducted
first on the basis of payment prior to delivery with each and every order for a
period of six (6) months before a Credit facilities application is processed.
What payment reference should I use ?
Your CyberDyne assigned customer code must be used for
all Electronic or Direct Bank Deposit payments made to ensure rapid reconciliation
our side. This code will be located on all quotations issued by CyberDyne and remains
for life.
How will I know you have received my Electronic
or Direct Bank Deposit payment ?
Once payment reflects in CyberDyne's banking account, our
accounts department will allocate the payment accordingly and you will receive an
emailed notification confirming receipt of your payment. Notification will be based
on the condition that you only use your CyberDyne assigned customer code as payment
reference. Payments made not using this reference will be allocated to an internal
suspense account until they have been correctly identified, for which CyberDyne
will not be held liable for any delays in payment allocation / notification which
may result. The onus is on the customer to ensure the use of the correct reference
prior to concluding payment.
How often do you check for payment receipts
?
Our accounting department draws bank statements three (3)
times per day - this being in the morning, midday and late afternoon. Payments received
which contain valid customer codes as references are allocated the same business
day and the relevant payment receipt notifications are generated.