As of 2020, Cool Ideas is retiring our old EFT facility called "Credit Card & Instant EFT (Payfast)
", and introducing a new facility titled "Recurring / Instant EFT"
The various payment methods will work as follows:Credit Card Payments
If you used your credit card previously to pay, nothing will change, except that the payment option will now be called "Credit Card (Payfast)".
Instructions on how to pay via Credit Card can be found here: https://help.coolideas.co.za/knowledgebase/article/payfast-payments-credit-card
The option on your invoice will need to be set to the following:
Recurring / Instant EFT (New Payment Option)
If you were using EFT before, you will now be offered the new "Recurring/Instant EFT" option when viewing your invoice online.
On your invoice you would just need to change the drop down to the following.
The new facility allows you to use the same reference every month, when making a payment, which means you can simply schedule an automatic EFT payment using your bank's EFT facilities, or do an instant EFT using the reference --- saving you time!
When selecting the "Recurring/Instant EFT" option you will be displayed your unique reference number (similar to making municipal bill payments).
This reference number will not change (unlike the old Payfast system), and any deposits made into our account using the COOLxxxx
reference will always be allocated to your account.
Thus you can safely schedule a recurring payment using your bank's systems, or simply pay every month using the unique reference number.
You could even schedule the automatic transfer on a calendar day of your convenience (when you get paid for example) and we will automatically allocate the amount paid to your next invoice which is generated on the 1st of every month.
Please be sure to always transfer your funds to:
First National Bank
Account Number: 62814411229
Branch Code 250655, using the unique reference number on your invoice
The bank details will always be displayed on the electronic invoice you receive, and we will not change it without prior notification.Important note!
The reference always starts with COOL
directly followed by your unique account number, such as COOL1234 --
no spaces or anything else in between.
If you do not pay using the correct reference we will not be able to allocate the funds correctly to your account.A few more notes and FYIs
- Payments from First National Bank accounts may take up to 5 minutes to reflect. Payments from banks other than First National Bank may take up to 48 hours before reflecting, unless you use your bank's "Immediate/Instant transfer" option. *Note that "Immediate/Instant transfers" may incur a service charge from your bank, for which Cool Ideas are not liable.
- Payments are automatically allocated to the OLDEST invoice on a customers account.
- If you pay using the incorrect reference number and the payment is not allocated to your account, we will have to manually find and allocate the payment. This can take up to one week and will require sending a proof of payment to our accounts team. Cool Ideas reserves the right to suspend your service during this time.
- Please do consult our T&Cs for more information on Instant / Recurring EFT payments. This can be found here.
Should you have any issues please don't hesitate to contact our accounts team on 010-593-2665 or via email