NACH Debit mandates include general details, creditor details and customer details.
These are the main fields that appear in an NACH Debit mandate.
- Type - CREATE / AMEND / CANCEL
- Date - the date on which the customer submitted authorisation
- Frequency - the maximum frequency with which transactions can be taken (optional)
- Amount - either Fixed or Maximum
- First collection date - the start date
- Final collection date (optional, nil value means 'Until cancelled')
- Category code
- Reference 1 - Customer reference (optional)
- Reference 2 - Plan/scheme reference (optional)
Creditor (merchant) details
- Creditor agent - the RTGS head office IFSC of the sponsor bank
- Creditor name - the beneficiary or the merchant
- Creditor utility code - the NACH user code of the creditor
Debtor (customer) details
- Bank account name (physical mandates can have up to three joint account holders)
- Bank account number
- Bank account branch IFSC/MICR (physical mandate only)
- Bank NACH code (generally first four characters of IFSC, eMandate only)
- Bank account type - savings, current, cash credit etc.
You can create mandates in LotusPay via API, forms and file import. We reduce the complexity by pre-filling and validating many details.