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Cash Management Process

The Action iT Money Market offers our clients a secure and stable way to invest their money, while enjoying highly competitive returns.

We have introduced processes that ensure that we comply with the legal and legislative requirements set out by the Financial Services Board (FSB) and the South African Government. Our online banking administration system facilitates the following investment process:

  • As the Primary Accountable Financial Institution we are required to obtain and verify the required FICA documentation and the signed Investment Mandate before we can make any investment on the client's behalf
  • Once the FICA process has been completed and the signed Client Investment Mandate has been received, Action iT (Pty) Ltd will open the client investment account on the CCM system (which creates the electronic account number) and set up the beneficiaries as per written mandate / instructions
  • The client can then transfer the funds either by electronic transfer or cheque deposit into the call account opened in the client's name. (Investec leverages the ABSA branch network for cheque deposits)
  • For each individual investment, the interest rate offered will be confirmed
  • Action iT (Pty) Ltd will then invest the funds as requested by the client
  • If required and accordingly mandated, Action iT (Pty) Ltd will make electronic payments against the investment account on behalf of our clients (two signatories are required)
  • Guarantees can be issued on condition that the money is available in the client's call account
  • Monthly statements will be distributed, preferably by e-mail
  • Account closures will be processed as requested by the client
  • Payment confirmations will be sent via SMS, email and/or fax
  • Transfers / payments out of the investment account back to the client will be made on the same day, provided the instruction is received by Action iT (Pty) Ltd before 12 noon.

For more information on our investment process or to sign-up, email invest@actionassist.co.za

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