Bank Transfer / EFT
The payment method in which the order amount is transferred directly from the buyer's account to the seller's bank account. The order is processed the moment the amount reaches the account and is matched with the relevant record; writing the order number in the description field noticeably speeds up matching.
Havale means a money transfer within the same bank, EFT between banks. The difference from card payment is that confirmation is not instant: in an interbank transfer, the amount appearing in the receiving account can take time depending on working hours and the sending channel.
- Make the transfer with the name or company name you used to create the order; a payment coming from a different account takes longer to match.
- Write the order number in the description.
- Send the amount in full; an amount arriving with the transfer fee deducted does not close the order.
Until the payment is matched, the order status stays pending and the stock is not considered definitively reserved. In corporate purchases, recording the receipt in your accounting entry together with the order number makes the later reconciliation easier. Since the account details and the methods offered at the payment step can change with the store setting, rely on the current terms shown on your payment page and order page for valid information.
The context in which this term is used: contact page